About the Direct Investment Option
The Direct Investment Option (DIO) lets you choose how your money is invested. You can buy and sell investments, track your performance and access comprehensive market research.
If self-control is your preference, be our guest. Our Direct Investment Option (DIO) offers control and flexibility much like a self-managed super fund. You can take the reins yourself with the best tools, resources, and industry insights. It’s your super. It’s up to you how to control it. Our DIO allows you to invest and trade in:
- Securities listed on the S&P/ASX300
- A range of Exchange Traded Funds (ETFs)
- A range of Listed Investment Companies (LICs)
- Term Deposits
Benefits of the legalsuper DIO
- Control & customisation: Choose exactly how your money is invested
- Cost efficiency: DIO is often more cost effective that an SMSF
- Time efficiency: Let us take care of all the admin, compliance and reporting
Get set up with 1:1 support
Our DIO specialists can help set you up with your own direct investment account.
To book a meeting, select one of the following specialists (please note, our DIO specialists can help members from any state, however, you will need to select one of the states below).
- Tony Dodd (QLD)
- Benjamin Fernandes (VIC)
- Greg Leaney (QLD)
If you’d like to set up your DIO yourself, click here to find out how.
You can invest in the DIO if you...
- Are a legalsuper member (Super or Pension – this excludes TTR accounts)
- Hold a minimum legalsuper balance of 10,000
- Have a minimum DIO cash account balance of $250
- Have a minimum non-DIO holding of $3,000*
- Your maximum single S&P/ASX300 is 25% of your total legalsuper balance
Please note that setting up your DIO account may take between 2-7 business days depending on various factors.
* 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.
We've answered some of your most frequently asked questions below.
Is the DIO right for me?
The legalsuper DIO is aimed at members who want more control over their investments and actively manage them. Because the Trustee does not review trades nor will it arrange for the purchase, sale, redemption or reinvestment, members need to commit the time required to manage their chosen investments.
DIO investors also need to have knowledge of the investments they are interested in, how these investments work and matters such as the tax treatment that will apply.
How much does it cost?
If you choose to establish an account as a Full Access User, you will be charged additional fees, on top of the normal fees and costs of your legalsuper account. The fees include a DIO Account fee of $20 per month ($240 per year), 0.29% of your account balance and 0.40% of your Cash Account balance. For more information, and a full list of fees for a Direct Investment Option account, please refer to the the Fees and Costs page.
How the DIO works
The Direct Investment option platform is provided by FNZ (Australia) and overseen by legalsuper.
FNZ (Australia) and legalsuper provide this option to members by partnering with:
- The authorised ASX market participant, UBS, acting for legalsuper to facilitate share transaction execution and clearing via the Direct Investment option platform.
- legalsuper's custodian, The Northern Trust Company; and
- legalsuper's administrator, Link Group.
For more information regarding the roles of FNZ (Australia) and UBS, please refer to our Product Disclosure Statement.
Can you transfer your DIO to a new legalsuper account?
If you are a member of legalsuper with some of your account invested in the DIO, you may be able to transfer your Direct Investments from your existing legalsuper account to commence a new legalsuper account without having to sell down investments.
Please note Direct Investments are not available to Transition to Retirement Pension members & transfers for members with Term Deposits are not permitted.
|Existing legalsuper account||New legalsuper account|
What are the benefits of transferring Direct Investments?
If you are able to transfer your DIO account, the benefits may include:
- No liability for capital gains tax on unrealised gains on assets transferred and subsequently sold.
- No ‘out of market risks’* associated with selling and repurchasing investments.
- No brokerage costs or early redemption fees.
* Purchase price of a pension includes the full value of all assets held by the DIO account on the date of transfer of the DIO account.
- The transfer will not result in less than $3,000 being invested in your non-DIO investments.
- That there are no pending cash transfers, are no unsettled trades in the member’s account, no stocks with a mandatory open corporate action or an election on a non-mandatory corporate action, and there are no share holdings in delisted companies.
- You must accept the Terms and conditions of the transfer.
What we invest in
Portfolio Holdings Disclosures as at 30/06/2023
Useful resources and general information
You should read the relevant Product Disclosure Statement and Additional Information documents for details of how the DIO works. This contains information on maximums that apply and the fees and costs payable.
The Approved Investment Menu details the investments that you can select from.
Other useful resources
Before you invest in legalsuper’s Direct Investment Option, you may want to learn more about share market investing. The Australian Stock Exchange website has a range of educational material and general information that may assist you. Visit the ASX website for more information.
In addition, the Federal Government’s Australian Securities and Investment Commission (ASIC) website, called MoneySmart, has a range of useful educational material and general information. Visit the MoneySmart website