Member Investment Choice

Member Investment Choice (MIC) gives members the opportunity to invest their superannuation in one or more of the five investment options offered by AMIST Super.

The five investment options are identical for AMIST Super, the AMIST Super Personal Division and the AMIST Super Pension.

Your Choice of Options

Secure Option

The Secure Option provides investment in domestic cash. This is the lowest risk strategy available to AMIST Super members and there is little likelihood that this option will provide a negative return. Whilst this option is designed to consistently provide a positive return on investment, long-term investment may result in a low accumulation of retirement savings.

 

Capital Stable Option

The new Capital Stable option is designed for members who want to target returns that are better than Cash, with a lower risk than the Balanced Fund. The assets held in this option will be diversified with some small exposure to Australian and Overseas shares. However the majority of the investment will be in Fixed Interest (target allocation 55% and cash (target up to 15%). Fixed Interest investments are things like Government or Corporate Bonds. The risk profile is greater than the Secure Option, but less than the Balanced Option.

 

Balanced Option

This is the default investment strategy used by AMIST Super if you don't choose how you wish to have your superannuation invested. The Balanced option provides a diversified mix of investments, which attempts to provide a balance between risk and return.  It is estimated that the probability of a negative return on average is a six out of every thirty years. Please refer to the Investments section of this website for more details of this investment strategy.

 

Growth Option

The Growth Option provides investment mainly in Australian and international shares with a relatively small component in Australian bonds. Returns are expected to vary significantly from year to year. There is a higher probability of negative returns than the Balanced Option with an estimated probability of a negative return on average eight out of every thirty years. Please refer to the Investments section of this website for more details of this investment strategy.

 

High Growth Option

The new High Growth option is designed to try to achieve a higher return than the existing Growth Option but of course with more risk. The assets will be in Australian and Overseas shares. The risk profile of the High Growth option is greater than the Growth Option.

 

Switching

Question:
How do I switch between investments?

Answer:
You can switch online or by filling in a form

Online switching: from 1 April 2010, members will be able to make changes to their investment allocations online. If you’re already registered for access to your super account you’ll be able to make switches online. If not, just call the AMIST Super Hotline on 1800 808 614 to get a password.

Or you can fill in this form and just post it back to us.

How much does it cost?

It’s $0 within the first 12 months of joining and just $35 to make a switch after that (no matter how many ways you might split your account at that point).

Up to 31 March 2010, you were allowed to make one investment switch within twelve months of joining AMIST Super, after which you could not make another switch until your account balance reached $1,100. From 1 April 2010, there will be no minimum balance requirement – you can switch between investment options irrespective of your account balance. Your first investment switch is free if it is made within twelve months of joining. After that, all investment switches attract a fee of $35 per switch. Please see the Product Disclosure Statement for details.

When does my switch take effect?

Investment switches can be made monthly and take effect from the first day of each month. You will need to complete a Member Investment Choice Form which must be received by AMIST Super’s Administrator within five calendar days of the end of the month. If switching online, the switch must be made within 5 days on the end of the month to take effect on the 1st of the next month.

 

Current balance invested one way / future contributions invested another

Up to 31 March 2010, where you elected to change the way your AMIST Super account was invested, your current balance and any new contributions were then invested according to your new investment choice. From 1 April 2010, you can choose to leave your current balance invested in the current investment option and nominate to have only your future contributions invested in a different manner.

Of course the option to switch both your balance and new contributions to the new option will remain – it’s your super and it’s your choice! Prior to making any change to the way your superannuation is invested you should refer to the current Product Disclosure Statement, which contains full details of  all of the investment options offered. You can download it here or obtain a printed copy by calling 1800 808 614.

It is also recommended that you seek financial advice prior to making any decision regarding the investment of your super. AMIST Super can assist you through our partnership with Mercer Wealth Solutions, who have been engaged by the Trustee to provide members with independent financial advice. Starting in June 2010 – members will be able to call 1800 808 614 8am-8pm EST and speak to a financial planner who can offer advice on investment options and other super related topics. This basic advice is provided at no additional cost to members – it is paid for from the fund.