Fund chief executive Andrew Proebstl said the MySuper product would be ready to launch from 1 July 2013.
“We are delighted to have obtained our MySuper licence and we are pleased to be one of a small group of funds that have received this licence ahead of the 1 July 2013 start date for the new regime,” he said in a statement.
The approval of legalsuper’s MySuper product follows the introduction of its enhanced direct investment option, which allows members to invest and build their own portfolio of S&P/ASX300 shares/securities, exchange traded funds and term deposits with daily trading, the fund stated.
Under the Stronger Super reforms, funds are required to offer a low-cost super product (MySuper) with a simple and uniform set of features.
