AustralianSuper members will be able to participate in daily trading once its Superpartners-provided administration system has been upgraded.
"Once the system is upgraded it will mean that the ASX option will operate on a daily basis," AustralianSuper chief executive Ian Silk told the fund's annual member meeting in Sydney this week.
However, Silk expressed concerns that some members may attempt to speculate with their retirement savings on a daily basis.
"We will be monitoring this and if we find that people are trading daily, the trustees and the Australian Prudential Regulation Authority would not condone this."
At the moment the ASX option only allows members to trade once a week, which means trading opportunities can be missed.
At the meeting, Silk also discussed plans for an upgrade to the Superpartners administration system.
He said the upgrade would be funded by clients including MTAA Superannuation Fund, HESTA and Cbus.
"The administration has not been at a tip-top level and this will be a very major IT upgrade. Some of the service shortcomings will disappear," Silk said.
While the upgrade has been delayed, Silk said it was "fundamentally on track" and the service level will be greatly improved.
The annual member meeting was attended by around 130 people this year, compared to over 400 last year.
Silk told the audience that the global financial crisis had placed the fund in "uncomfortable and unfamiliar territory".
However, in the three months to June 2009 the balance option was up 8 per cent and those members who had stuck with this option had fared the best.
"The small percentage that took their money out of the balanced option and opted for the cash option of the capital guaranteed option have in nearly every instance lost money," Silk said.
