The new functionality is available though the Pursuit Select Personal Superannuation, Allocated Pension and Investment Service products.
"Direct shares is something that certain advisers have been asking for on Pursuit Select, so we are very happy to be able to deliver this feature and open up a whole new set of strategies for Pursuit Select clients," IOOF Portfolio Solutions head of product and marketing Nick Everingham said.
"With direct shares we feel we are not only keeping our existing advisers and clients satisfied, we are also opening Pursuit Select up to customers who considered direct shares to be the last piece of the puzzle in terms of features."
Personal super and pension members can generally invest in any security within the S&P/ASX300 Index of stocks.
Investment Service investors can invest in all fully paid ordinary and preference shares, stapled securities, exchange-traded funds, interest rate securities and investment companies listed on the Australian Securities Exchange.
Clients will also have the opportunity to participate in any dividend reinvestment plans and the majority of corporate actions offered in respect of the listed securities.
