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Home Investments Direct Investment Option Direct Investment Option menu

Direct Investment Option menu

The approved investment menu provides details of the investments that members may select from when invested in the Direct Investment Option (DIO). The document includes general investment rules and limits that apply.

The approved investment menu is not a recommendation.

All responsibility for the investment decisions in the DIO rests with the member. The inclusion of a share, ETF, LIC or term deposit as an allowable investment within the DIO is not an endorsement or recommendation by the Trustee as to the quality or suitability of that investment. The rules for investing in the DIO should not be considered as a recommendation by the Trustee as to the manner in which members should approach their investments in the DIO. Investment decisions regarding the diversification of assets rest with the member.

Before investing in an ETF or LIC you should obtain and consider the Product Disclosure Statement (PDS) or disclosure documents applicable to the ETF or LIC, available from the website of the ETF or LIC issuer.

The Trustee does not review any trades that members make in the DIO, and members should consider obtaining investment advice from a licensed financial adviser before investing in the DIO. 

Menu – Securities

The following companies and Trusts were included in the S&P/ASX300 as at October 2021:

Menu 1: Securities in S&P/ASX300

The following companies and Trusts were included in the S&P/ASX300 dated 29 October 2021.
Note that securities will change from time to time as the composition of the S&P/ASX300 Index changes.

# Code Company
1 ABP Abacus Property Group Units/ord Stapled
2 AX1 Accent Group Limited
3 ADH Adairs Ltd
4 ABC Adelaide Brighton Limited
5 APT Afterpay Limited
6 AGL AGL Energy Ltd
7 ALQ ALS Limited
8 ALU Altium Ltd
9 AWC Alumina Limited
10 AMA AMA Group Limited
11 AMC Amcor Limited
12 AMP AMP Limited
13 ALD Ampol Ltd
13 ANN Ansell Limited
14 APE AP Eagers Limited
15 APA APA Group
16 ADI APN Industria REIT
17 APX Appen Ltd
18 ARB ARB Corporation Limited
19 ARF Arena REIT
20 ALL Aristocrat Leisure Ltd
21 ASX ASX Limited
22 ALX Atlas Arteria Ltd
23 AUB AUB Group Limited
24 AIA Auckland International Airport Ltd
25 AD8 Audinate Group Ltd
26 AMI Aurelia Metals Ltd
27 AZJ Aurizon Holdings Limited
28 AST AusNet Services
29 ASB Austal Ltd
30 ANZ Australia and New Zealand Banking Group Limited
31 AAC Australian Agricultural Company Limited
32 AEF Australian Ethical Investment Limited
33 AFG Australian Finance Group Ltd
34 API Australian Pharmaceutical Industries Ltd
35 ASM Australian Strategic Materials Limited
36 AVN Aventus Group
37 BBN Baby Bunting Group Ltd
38 BOQ Bank of Queensland Ltd
39 BAP Bapcor Limited
40 BPT Beach Energy Limited
41 BGA Bega Cheese Ltd
42 BGL Bellevue Gold Ltd
43 BEN Bendigo and Adelaide Bank Limited
44 BET Betmakers Technology Group Limited
45 BHP BHP Group Limited
46 BKL Blackmores Limited
47 BSL Bluescope Steel Limited
48 BLD Boral Limited
49 BRN BrainChip Holdings Ltd
50 BXB Brambles Ltd
51 BVS Bravura Solutions Limited
52 BRG Breville Group Ltd
53 BKW Brickworks Limited
54 BWP BWP Trust
55 BWX BWX Ltd
56 CMM Capricorn Metals Ltd
57 CVN Carnarvon Petroleum Ltd
58 CAR Ltd
59 CWP Cedar Woods Properties Limited
60 CNI Centuria Capital Ltd
61 CIP Centuria Industrial REIT
62 COF Centuria Office REIT
63 CHN Chalice Mining Ltd
64 CGF Challenger Ltd
65 CIA Champion Iron Ltd
66 CQE Charter Hall Education Trust
67 CHC Charter Hall Group
68 CLW Charter Hall Long Wale REIT
69 CQR Charter Hall Retail
70 CNU Chorus Ltd
71 CIM CIMIC Group Ltd
72 CCX City Chic Collective Ltd
73 CWY Cleanaway Waste Management Ltd
74 CUV Clinuvel Pharmaceuticals Limited
75 COH Cochlear Limited
76 CDA Codan Limited
77 COL Coles Group Limited
78 CKF Collins Foods Group Ltd
79 CBA Commonwealth Bank of Australia
80 CPU Computershare Limited
81 COE Cooper Energy Limited
82 CRN Coronado Global Resources Inc
83 CTD Corporate Travel Management Ltd
84 CGC Costa Group Holdings Ltd
85 CCP Credit Corp Group Limited
86 CMW Cromwell Property Group
87 CWN Crown Resorts Ltd
88 CSL CSL Limited
89 CSR CSR Limited
90 DBI Dalrymple Bay Infrastructure Ltd
91 DTL Data#3 Limited
92 DEG De Grey Mining Ltd
93 DRR Deterra Royalties Ltd
94 DXS Dexus
95 DDR Dicker Data Ltd
96 DHG Domain Holdings Australia Limited
97 DMP Domino's Pizza Enterprises Limited
98 DOW Downer Edi Limited
99 DUB Dubber Corporation Limited
100 ECX Eclipx Group Ltd
101 ELD Elders Ltd
102 EOS Electro Optic Systems Holdings Limited
103 EHL Emeco Holdings Limited
104 EML EML Payments Limited
105 EDV Endeavour Group Ltd/Australia
106 EHE Estia Health Ltd
107 EVT EVENT Hospitality and Entertainment Ltd
108 EVN Evolution Mining Ltd
109 FCL Fineos Corp Ltd
110 FPH Fisher & Paykel Healthcare Corp Ltd
111 FBU Fletcher Building Limited
112 FLT Flight Centre Travel Group Limited
113 FMG Fortescue Metals Group Limited
114 GEM G8 Education Ltd
115 GDI GDI Property Group
116 GMA Genworth Mortgage Insurance Australia Ltd
117 GOR Gold Road Resources Ltd
118 GMG Goodman Group
119 GPT GPT Group Stapled Securities Fully Paid
120 GNC Graincorp Limited
121 GOZ Growthpoint Properties Australia
122 GUD GUD Holdings Limited
123 GWA GWA Group Ltd
124 HSN Hansen Technologies Limited
125 HVN Harvey Norman Holdings Limited
126 HLS Healius Limited
127 HMC Home Consortium Ltd
128 HDN Homeco Daily Needs REIT
129 HPI Hotel Property Investment Ltd
130 HUB HUB24 Ltd
131 IEL IDP Education Limited
132 ILU Iluka Resources Limited
133 IMD Imdex Limited
134 IMU Imugene Limited
135 IPL Incitec Pivot Limited
136 IGO Independence Group Nl
137 IFM Infomedia Ltd
138 INA Ingenia Communities Group
139 ING Inghams Group Ltd
140 IAG Insurance Australia Group Limited
141 IDX Integral Diagnostics Ltd
142 IAP Investec Australia Property Fund
143 IVC Invocare Limited
144 INR Ioneer Ltd
145 IFL Ioof Holdings Limited
147 IRE IRESS Limited
148 JHX James Hardie Industries PLC
149 JHG Janus Henderson Group PLC
150 JBH JB Hi-Fi Limited
151 JLG Johns Lyng Group Limited
152 JIN Jumbo Interactive Limited
153 KAR Karoon Energy Ltd
154 KGN Limited
155 LLC Lend Lease Group
156 360 Life360 Inc
157 LIC Lifestyle Communities Ltd
158 LNK Link Administration Holdings Ltd
159 LTR Liontown Resources Limited
160 LOV Lovisa Holdings Limited
161 LYC Lynas Corporation Ltd
162 MQG Macquarie Group Limited
163 MFG Magellan Financial Group Limited
164 MMM Marley Spoon AG
165 MYX Mayne Pharma Group Ltd
166 MMS McMillan Shakespeare Limited
167 MPL Medibank Private Ltd
168 MP1 Megaport Limited
169 MSB Mesoblast Limited
170 MTS Metcash Limited
171 MIN Mineral Resources Ltd
172 MGR Mirvac Group Stapled Securities
173 MND Monadelphous Group Limited
174 MNY Money3 Corp Ltd
175 MGX Mount Gibson Iron Limited
176 MYS MyState Ltd
177 NAN Nanosonics Limited
178 NAB National Australia Bank Limited
179 NSR National Storage REIT
180 NEA Nearmap Ltd
181 NWL Netwealth Group Limited
182 NHC New Hope Corp Ltd
183 NCM Newcrest Mining Limited
184 NWS News Corp - Class B
185 NXT Nextdc Ltd
186 NHF NIB Holdings Limited
187 NCK Nick Scali Ltd
188 NIC Nickel Mines Ltd
189 NEC Nine Entertainment Co. Holdings Ltd
190 NST Northern Star Resources Ltd
191 NVX Novonix Limited
192 NWH NRW Holdings Limited
193 NUF Nufarm Limited
194 NXL Nuix Ltd
195 OSH Oil Search Limited
196 OBL Omni Bridgeway Ltd
197 OML Ooh Media Ltd
198 OPT Opthea Ltd
199 ORI Orica Limited
200 ORG Origin Energy Limited
201 ORE Orocobre Ltd
202 ORA Orora Ltd
203 OZL Oz Minerals Limited
204 PGH Pact Group Holdings Ltd
205 PDN Paladin Energy Ltd
206 PAR Paradigm Biopharmaceuticals Ltd
207 PDL Pendal Group Ltd
208 PRN Perenti Global Ltd
209 PPT Perpetual Limited
210 PRU Perseus Mining Limited
211 PLL Piedmont Lithium Ltd
212 PLS Pilbara Minerals Ltd
213 PNI Pinnacle Investment Management Group Ltd
214 PTM Platinum Asset Management
215 PBH Pointsbet Holdings Ltd
216 PNV PolyNovo Ltd
217 PPK PPK Group Limited
218 PMV Premier Investments Limited
219 PME Pro Medicus Limited
220 QAN Qantas Airways Limited
221 QBE QBE Insurance Group Ltd
222 QUB Qube Holdings Ltd
223 RMS Ramelius Resources Ltd
224 RHC Ramsay Health Care Limited
225 REA REA Group Limited
226 RED Red 5 Ltd
227 RBL Redbubble Ltd
228 REH Reece Ltd
229 RRL Regis Resources NL
230 RWC Reliance Worldwide Corp Ltd
231 RMD Resmed Inc
232 RSG Resolute Mining Ltd
233 RIO Rio Tinto Limited
234 RFF Rural Funds Group
235 SFR Sandfire Resources Nl
236 STO Santos Limited
237 SCG Scentre Group
238 SLK Sealink Travel Group Ltd
239 SEK Seek Limited
240 SHV Select Harvests Ltd
241 SXY Senex Energy Ltd
242 SSM Service Stream Ltd
243 SVW Seven Group Holdings
244 SZL Sezzle Inc
245 SCP Shopping Centres Australasia Property Group
246 SIG Sigma Healthcare Limited
247 SLR Silver Lake Resources Limited
248 SGM Sims Metal Management Limited
249 SKC SKYCITY Entertainment Group Ltd
250 SIQ SmartGroup Corp Ltd
251 SHL Sonic Healthcare Limited
252 S32 South32 Limited
253 SXL Southern Cross Media Group
254 SKI Spark Infrastructure Group
255 SPK Spark New Zealand Ltd
256 SSR SSR Mining Inc
256 SBM St Barbara Ltd
257 SGR Star Entertainment Grp Ltd
258 SPL Starpharma Holdings Limited
259 SDF Steadfast Group Ltd
260 SGP Stockland Units/ord Stapled
261 STX Strike Energy Limited
262 SUN Suncorp Group Ltd
263 SUL Super Retail Group Limited
264 SYD Sydney Airport
265 TAH Tabcorp Holdings Limited
268 TGR Tassal Group Ltd
269 TNE Technology One Ltd
270 TLX Telix Pharmaceuticals Ltd
271 TLS Telstra Corporation Limited
272 TPW Temple & Webster Group Ltd
273 A2M The A2 Milk Company Limited
274 TPG TPG Telecom Ltd
275 TCL Transurban Group
276 TWE Treasury Wine Estates Ltd
277 TYR Tyro Payments Ltd
278 UMG United Malt Group Ltd
279 UWL Uniti Group Ltd
280 VCX Vicinity Centers
281 VUK Virgin Money UK PLC
282 VRT Virtus Health Ltd
283 VEA Viva Energy Group Ltd
284 VUL Vulcan Energy Resources Limited
285 SOL Washington H Soul Pattinson & co Ltd
286 WPR Waypoint REIT Ltd
287 WEB Webjet Ltd
288 WES Wesfarmers Limited
289 WAF West African Resources Ltd
290 WSA Western Areas Ltd
291 WGX Westgold Resources Ltd
292 WBC Westpac Banking Corporation
293 WHC Whitehaven Coal Limited
294 WTC WiseTech Global Ltd
295 WPL Woodside Petroleum Ltd
296 WOW Woolworths Group Limited
297 WOR Worleyparsons Limited
298 XRO Xero Ltd
299 Z1P Zip Co Limited

Menu 2: Listed Investment Companies

1AFIAustralian Foundation Investment Company Limited
3ARGArgo Investments Limited
4AUIAustralian United Investment Company Limited
5BKIBKI Investment Company Limited
6BSNBisan Limited
7CAMClime Capital Limited
8CBCCBG Capital Limited
9CDMCadence Capital Limited
10CIEContango Income Generator Limited
11CINCarlton Investments Limited
12CLFConcentrated Leaders Fund
13CVFContrarian Value Fund Limited
14CYACentury Australia Investments Limited
15DJWDjerriwarrh Investments Limited
16DUIDiversified United Investment Limited
17EFFEvans & Partners Australian Flagship Fund
18FGXFuture Generation Investment Company Limited
19FORForager Australian Shares Fund
20FSIFlagship Investments Limited
21IBCIronbark Capital Limited
22MA1Monash Absolute Investment Company Limited
23MIRMirrabooka Investments Limited
24MLTMilton Corporation Limited
25MVTMercantile Investment Company Ltd
26NGENGE Capital Limited
27OEQOrion Equities Limited
28PICPerpetual Equity Investment Company Limited
29WAMWAM Capital Limited
30WHFWhitefield Limited
31WICWestoz Investment Company Limited
32WLEWAM Leaders Limited

Menu 3: Exchange Traded Funds


1VACFVanguard Australian Corporate Fixed Interest Index ETF
2VAEVanguard FTSE Asia Ex-Japan Shares Index ETF
3VAFVanguard Australian Fixed Interest Index ETF
4VAPVanguard Australian Property Securities Index ETF
5VASVanguard Australian Shares Index ETF
6VBNDVanguard Global Aggregate Bond Index (Hedged) ETF
7VCFVanguard International Credit Securities Index (Hedged) ETF
8VDBAVanguard Diversified Balanced Index ETF
9VDCOVanguard Diversified Conservative Index ETF
10VDGRVanguard Diversified Growth Index ETF
11VDHGVanguard Diversified High Growth Index ETF
12VEQVanguard FTSE Europe Shares ETF
13VEUVanguard All-World ex US Shares Index ETF
14VGADVanguard MSCI Index International Shares (Hedged) ETF
15VGBVanguard Australian Government Bond Index ETF
16VGEVanguard FTSE Emerging Markets Shares ETF
17VGSVanguard MSCI Index International Shares ETF
18VHYVanguard Australian Shares High Yield ETF
19VIFVanguard International Fixed Interest Index (Hedged) ETF
20VLCVanguard MSCI Australian Large Companies Index ETF
21VSOVanguard MSCI Australian Small Companies Index ETF
22VTSVanguard US Total Market Shares Index ETF


1AUMFiShares Edge MSCI Australia Multifactor ETF
2BILLiShares Core Cash ETF
3IAAiShares S&P Asia 50 ETF
4IAFiShares Core Composite Bond ETF
5IEMiShares MSCI Emerging Markets ETF
6IEUiShares S&P Europe ETF
7IGBiShares Treasury ETF
8IHCBiShares Core Global Corporate Bond (AUD Hedged) ETF
9IHDiShares S&P/ASX High Dividend Yield ETF
10IHEBiShares J.P.Morgan USD Emerging Markets Bond (AUD Hedged) ETF
11IHHYiShares Global High Yield Bond (AUD Hedged) ETF
12IHOOiShares Global 100 AUD Hedged ETF
13IHVViShares S&P 500 AUD Hedged ETF
14IHWLiShares Core MSCI World All Cap AUD Hedged ETF
15IJHiShares S&P Midcap ETF
16IJPiShares MSCI Japan ETF
17IJRiShares S&P Small-Cap ETF
18IKOiShares MSCI South Korea Capped Index ETF
19ILBiShares Government Inflation ETF
20ILCiShares S&P/ASX 20 ETF
21IOOiShares S&P Global 100 ETF
22IOZiShares Core S&P/ASX 200 ETF
23ISECiShares Enhanced Cash ETF
24ISOiShares S&P/ASX Small Ordinaries ETF
25ITWiShares MSCI Taiwan ETF
27IVViShares S&P 500 ETF
28IWLDiShares Core MSCI World All Cap ETF
29IXIiShares S&P Global Consumer Staples ETF
30IXJiShares S&P Global Healthcare ETF
31IZZiShares FTSE China Large-Cap ETF
32MVOLiShares Edge MSCI Australia Minimum Volatility ETF
33WDMFiShares Edge MSCI World Multifactor ETF
34WVOLiShares Edge MSCI World Minimum Volatility ETF


1A200Betashares Australia 200 ETF
2AAABetashares Australian High Interest Cash ETF
3BEARBetashares Australian equities Bear Fund
4BNKSBetaShares Global Banks ETF - Currency Hedged
5CREDBetaShares Australian Investment Grade Bond ETF
6DRUGBetaShares Global Healthcare ETF - Currency Hedged
7EEUBetaShares Euro ETF
8ETHIBetaShares Global Sustainability Leaders ETF
9EX20BetaShares Australian Ex-20 Portfolio Diversifier ETF
10FAIRBetaShares Australian Sustainability Leaders ETF
11FOODBetaShares Global Agriculture Companies ETF
12FUELBetaShares Global Energy Companies ETF - Currency Hedged
13HACKBetaShares Global Cybersecurity ETF
14HEURBetaShares WisdomTree Europe ETF - Currency Hedged
15HJPNBetaShares WisdomTree Japan ETF - Currency Hedged
16MNRSBetaShares Global Gold Miners ETF - Currency Hedged
17NDQBetaShares NASDAQ 100 ETF
18OOOBetaShares Crude Oil Index ETF-Currency Hedged (Synthetic)
19POUBetaShares British Pound ETF
20QAGBetaShares Agriculture ETF-Currency Hedged (Synthetic)
21QAUBetaShares Gold Bullion ETF (AU$ Hedged)
22QCBBetaShares Commodities Basket ETF-Currency Hedged (Synthetic)
23QFNBetaShares S&P/ASX 200 Financials Sector ETF
24QOZBetaShares FTSE RAFI Australia 200 ETF
25QPONBetaShares Australian Bank Senior Floating Rate Bond ETF
26QREBetaShares S&P/ASX 200 Resources Sector ETF
27QUSBetaShares FTSE RAFI US 1000 ETF
28USDBetaShares U.S Dollar ETF
29YMAXBetaShares Australian Top 20 Equity Yield Maximiser Fund ETF


1RARIRussell Australian Responsible Investment ETF
2RCBRussell Australian Select Corporate Bond ETF
3RDVRussell High Dividend Australian Shares ETF
4RGBRussell Australian Government Bond ETF
5RSMRussell Australian Semi-Government Bond ETF


1BONDSPDR S&P/ASX Australian Bond Fund
2DJRESPDR Dow Jones Global Real Estate ESG Fund
3GOVTSPDR S&P/ASX Australian Government Bond Fund
4OZFSPDR S&P/ASX 200 Financials ex A-REITs Fund
5OZRSPDR S&P/ASX 200 Resource Fund
6QMIXSPDR MSCI World Quality Mix Fund
8SLFSPDR S&P/ASX 200 Listed Property Fund
9SPYSPDR S&P 500 ETF Trust
10SSOSPDR S&P/ASX Small Ordinaries Fund
12SYISPDR MSCI Australia Select High Dividend Yield Fund
13WDIVSPDR S&P Global Dividend Fund
14WEMGSPDR S&P Emerging Markets Carbon Control Fund
15WXHGSPDR S&P World ex Australia Carbon Control (Hedged) Fund
16WXOZSPDR S&P World ex Australia Carbon Control Fund

Menu 4: Term Deposits

Term Deposits are issued by the following companies for terms as available:

  • ANZ
  • NAB
  • ME Bank


There is a $20 per month ‘Portfolio Administration Fee’ (PAF) (also known as the ‘DIO account fee’) legalsuper charges administration fees of $1.30 per week plus 0.29% of total asset value. The amounts invested through the DIO are counted for the calculation of administration fees.

Brokerage fees will apply if you purchase or sell shares in your DIO account. Please note, the $20 per month fee is payable regardless of whether or not you transact. This is calculated daily and deducted from your cash account on the first business day each month.

In addition, a ‘DIO Cash account fee’ of 0.40% is charged by the DIO platform provider (UBS). This fee only applies to funds held in the DIO Cash account, is calculated daily and is deducted monthly from your DIO Cash account. Further details of the ‘Fees and costs’ associated with the DIO are contained in the Employer Sponsored Super & Personal Super Additional Information document, or the Pension Product Disclosure Statement.

Investment limits

Super DIO limitsPension DIO limits*
Minimum legalsuper balance$10,000$10,000
Minimum non–DIO holding requirement$3,000$3,000**
Maximum single S&P/ASX300 security25% of total legalsuper balance25% of total legalsuper balance
DIO Cash account minimum balance$250$250

* Excludes Transition to Retirement (TTR) pensions.

** In addition to the $3,000 shown above, existing or new Pension members who instruct legalsuper to transfer funds into their DIO must be aware of the Minimum Pension Payment Requirement (Requirement). This Requirement is to ensure that Pension members maintain sufficient money in their non-DIO investment option(s) to meet the legislated annual minimum pension payment. Therefore, the minimum non-DIO holding requirement for Pension members will be the greater of $3,000 or the equivalent of 13 months of the required annual minimum pension payment.

General Rules


  • The DIO has been declared an illiquid investment option in accordance with Superannuation Industry (Supervision) Regulations.
  • Ordinarily, the Superannuation Industry (Supervision) Regulations require the Trustee to transfer or roll over amounts within 3 days of receiving a request or obtaining additional information if required.
  • The 3-day requirement does not apply to amounts invested in the DIO plus the minimum legalsuper holding.
  • Requests to transfer or roll over amounts invested in the DIO plus the minimum legalsuper holding are unable to be transferred until all DIO assets have been sold, the DIO account has been closed and all monies have been transferred to another legalsuper option.


  • By requesting a transfer of monies to your DIO Cash account and by issuing investment instructions for the DIO, you are consenting that you understand and accept that all amounts invested in the DIO plus the minimum legalsuper holding amounts are illiquid.


  • Members must issue their own investment instructions using the online system.
  • legalsuper is unable to pay pensions from the DIO.
  • Members must ensure that the balance held in their other legalsuper investment option(s) is sufficient to meet any required pension payments and, at all times, maintain the minimum holding requirement.
  • The Trustee of legalsuper will only issue investment instructions on behalf of members in the Exceptional Circumstances listed in this Approved Investment Menu.


  • The Trustee of legalsuper will only issue investment instructions on behalf of you in the following circumstances:
    - to maintain the minimum non-DIO holding requirements;
    - to replenish the DIO Cash account to at least $250;
    - under a court order;
    - if you open a new legalsuper account and then exercise your right to cool-off, and fail to sell down your DIO investments;
    - if you have a Pension account and have insufficient funds in your non-DIO investment option(s) to meet your Minimum Pension Payment Requirement; or
    - following the death of a member (where no reversionary pensioner has been nominated) at the same time that the Trustee approves payment to beneficiaries.
  • The Trustee reserves the right to issue redemption instructions on behalf of legalsuper members in respect of one or more of the underlying assets held by that member in the DIO in each of the above circumstances. 
  • The Trustee will use reasonable endeavours to contact a member prior to taking such action in respect of investments in the DIO. The assets to be redeemed will be determined by the Trustee in its absolute discretion.