Switching your investments. A quick guide. .
Investments | 27/03/2020 |
5 min read
Here’s what you need to know.
When you contribute to your super, your money is invested into a range of investments such as property, Australian and overseas shares, and other assets. There are a range of investment options to choose from. You can either make this decision yourself or your super will automatically be invested into the most appropriate option for you.
At some point in time, you may consider switching your investment options. However, before you do, there are some things you should consider first.
How do I know if I have the right investment option?
The best way to determine this is to access sound financial advice. To get started on this, you can book an appointment with one of our financial planners.
How often can I switch investments?
You can switch between investment options at any time. If your investment switch is received by 4:00 pm AEST on a business day, your switch will be calculated at the unit price for that business day. If you switch after 4:00 pm, the unit price for the following business day will be used.
Are there any fees for switching my investments?
Equip does not charge fees for switching investments.
How do I know how much I've switched?
The amount you switch is not known until we calculate the unit prices for the effective date of your switch. This means that the amount switched will not be the balance you currently see.
For example, when you look at your balance online, it is based on the latest available unit price. This is usually from two days ago. When your switch is processed, your balance will be updated with the unit price for the date you switched. The unit price will reflect changes in investment markets which will also impact your balance. This means that the amount switched will not be the same as the balance you last saw.
How long does it take for the investment switch to take effect?
It usually takes about two business days to see a switch reflected on your account. This is because the unit prices are calculated once investment markets have closed for the day you switched. The unit price is calculated on the next business day and will usually be applied to your account the following business day.
It’s important that you consider these things before making an investment switch. You should also consider seeking sound financial advice before you make investment switches to your super. You can book an appointment with a financial planner here.
This information is provided for general information only. It does not take into account your personal objectives, financial situation or needs and should therefore not be taken as personal advice. You should consider whether it is appropriate for you before acting on it and, if necessary, you should seek professional financial advice. Togethr Trustees Pty Ltd ABN64 006 964 049, AFSL246383 ("Togethr") is the trustee of the Equipsuper Superannuation Fund ABN 33 813 823 017 ("Equip" or "The Fund"). Past performance is not an indication of future performance.
Togethr Financial Planning Pty Ltd (“TFP”) (ABN 84 124 491 078, AFSL 455010), trading as Equip Financial Planning, is licensed to provide financial planning services to retail and wholesale clients. TFP is owned by Togethr Holdings Pty Ltd (ABN 11 604 515 791). You can obtain the TFP Financial Services Guide and/or Privacy Statement by contacting our Helpline on 1800 682 626. This is general information only and does not take into account your personal objectives, financial situation or needs and therefore should not be taken as personal advice