Australia-based NGS Super has joined forces with US-based Mercer to launch its new direct investment platform.
The partnership will offer members with access to this new platform and allow them to trade ASX300 shares, a choice of exchange traded funds and term deposits from their super or pension accounts, reported Financial Standard.
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Anthony Rodwell-Ball, CEO of NGS Super, said that the new platform will offer members more choice, while reducing costs.
"We know that some members want more control over their investments, but for a fund of our size, the cost of developing a direct investment platform looked prohibitive at first. Working with Mercer, however, it cost at less than half as much as going it alone."
Ben Walsh, Mercer financial services business leader for the Pacific region, was quoted by Financial Standard saying that the platform’s design sought to gain economies of scale while still tailoring the product for each fund.
Walsh added: "Working collaboratively with NGS Super helped Mercer develop our thinking and refine our solution, enabling better outcomes than working alone."
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