- smartMonday

smartMonday investment option changes

Updated: 23 May 2024

Some changes to the smartMonday investment menu will be coming into effect from 1 June 2024.

Please note that there will be no changes to the smartMonday Lifecycle (MySuper) or Cash investment options.

We are required by law to inform all members of these changes, even those unaffected.

What's changing?

24 investment options across smartMonday accumulation and pension products will be closed - listed below in the table.
The remaining options will also be renamed to reflect the option’s new structure and strategy.
Across the remaining smartMonday options there are changes to investment strategy, investment fees and costs. You can find more information about those changes below.
Most members will enjoy a reduction in the overall fees they pay as a result of these changes. However, some members will see an increase in their annual fees and costs.

Why are these changes happening?

We regularly review the smartMonday investment options to bring our members the best product possible.

Reviewing investment options involves monitoring how many members are using each option and the ability of each option to deliver its expected investment return cost-effectively.

As part of our most recent review we also looked at areas where we could remove complexity from the investment option. These changes are being made as a result of the review.

Our focus is on members first. These changes will be implemented to ensure smartMonday continues to provide cost-effective investment options and value driven investment strategy.

What if I’m invested in an option that is closing?

If you are invested in one or more of the terminating options, we will transfer your investment to the investment option(s) sharing the most similar:

asset allocation
investment time horizon
investment objective

You can find the option your investment will be transferred to (the destination option) in the table below.

This will happen automatically for all members in a terminating option. Depending on the investment option, this may mean either an increase or reduction in investment fees and costs. The table below outlines those fees too.

To smoothly implement these changes, the following timeline will be implemented.

Wednesday, 1 May 2024	For new members, no switches will be accepted into the terminating options.
Monday, 27 May 2024	Last date to switch in or out of the terminating options for existing members.
Tuesday, 28 May 2024	For existing members, new transactions from this date will be allocated to the destination options.
Monday, 3 June 2024	All monies in the terminating options will be switched to the destination options
Thursday, 6 June 2024	When you log on to your account, you will see your new investment option allocation

Terminating options and destination options (accumulation accounts)

Terminating options	Current Investment Fee¹	Destination option Current name	Destination option Current Investment Fee¹	Destination option New name	New Investment Fee¹
Property - Diversified	0.65% p.a.	High Growth Index	0.27% p.a.	High Growth	0.56% p.a. (estimated)
Property - Australian Index	0.27% p.a.
High Growth - Active	0.78% p.a.
Growth - Active	0.75% p.a.	Growth Index	0.27% p.a.	Growth	0.56% p.a. (estimated)
Balanced Growth - Active	0.69% p.a.	Balanced Growth Index	0.28% p.a.	Balanced Growth	0.56% p.a. (estimated)
Moderate - Index	0.29% p.a.	Moderate Active	0.59% p.a.	Moderate	0.49% p.a. (estimated)
Defensive - Index	0.29% p.a.	Defensive Active	0.48% p.a.	Defensive	0.40% p.a. (estimated)
Australian Shares - Core	0.67% p.a.	Australian Shares - Diversified	0.67% p.a.	Australian Shares	0.51% p.a. (estimated)
Australian Shares - Index	0.26% p.a.	Australian Shares - Diversified	0.67% p.a.	Australian Shares	0.51% p.a. (estimated)
International Shares - Index	0.27% p.a.	International Shares - Diversified	0.88% p.a.	International Shares	0.55% p.a. (estimated)
Fixed Interest - Diversified - Index	0.29% p.a.	Cash	0.18% p.a.	Cash	0.18% p.a. (estimated)
Fixed Interest - Diversified	0.44% p.a	Cash	0.18% p.a.	Cash	0.18% p.a. (estimated)

1 Other fees and costs apply to your account in smartMonday. For more information refer to the relevant smartMonday PDS and the Fees and the Costs reference guide.

Terminating options and destination options (pension accounts)

Terminating options	Current Investment Fee¹	Destination option Current name	Destination option Current Investment Fee¹	Destination option New name	New Investment Fee¹
Australian Shares - Diversified	0.67% p.a.	High Growth Index	0.27% p.a.	High Growth	0.56% p.a. (estimated)
Australian Shares - Index	0.26% p.a.
International Shares - Diversified	0.88% p.a.
International Shares - Index	0.27% p.a.
Property - Diversified	0.65% p.a.
High Growth - Active	0.78% p.a.
Growth - Active	0.75% p.a.	Growth Index	0.27% p.a.	Growth	0.56% p.a. (estimated)
Balanced Growth - Active	0.69% p.a.	Balanced Growth Index	0.28% p.a.	Balanced Growth	0.56% p.a. (estimated)
Moderate - Index	0.29% p.a.	Moderate Active	0.59% p.a.	Moderate	0.49% p.a. (estimated)
Defensive - Index	0.29% p.a.	Defensive Active	0.50% p.a.	Defensive	0.40% p.a. (estimated)
Fixed Interest - Diversified - Index	0.29% p.a.	Cash	0.18% p.a.	Cash	0.18% p.a. (estimated)
Fixed Interest - Diversified	0.4% p.a.	Cash	0.18% p.a.	Cash	0.18% p.a. (estimated)

1 Other fees and costs apply to your account in smartMonday. For more information refer to the relevant smartMonday PDS and the Fees and the Costs reference guide.

What do I need to do if I’m invested in a terminating option?

If you are in a terminating option, you do not need to take any action.

The transfer to the new option will happen automatically.

If you would like to review this change ahead of time please do so, and you can always choose to switch to another option by logging in to your account and looking for the “Manage Investments” button.

You may also wish to contact a smartCoach, which you can do at no additional cost, or seek personal financial advice for more clarity on what investments are right for your personal financial needs, goals and circumstances.

Contact a SmartCoach

Phone 1300 262 241
Email smartcoach@smartmonday.com.au
Live chat via the chat icon on the bottom right of your screen

What if I’m not happy with the option I’ve been transferred into?

If the changes outlined in this document are not appropriate for your circumstances, you may consider choosing alternative investment options in the new investment menu before 27 May 2024.

You can also speak to a smartCoach, which you can do at no additional cost, for more advice. For advice on what investments are right for your personal financial circumstances, you may wish to seek personal financial advice.

Can I still make a contribution during this time?

There is no impact on your ability to contribute to your smartMonday account during this time.

Are there any impacts on my insurance or other aspects of my smartMonday account?

No - the investment changes will not impact other aspects of your account.

How do I switch investment options?

At any time, you can choose a different investment option and you can also switch your super across multiple investment options.

When you login to your account, look for the button labelled “Manage Investments”.
From there you can also choose what portion of your super account you would like to invest in which option. Including the option to consider your current balance and future contributions.

Alternatively, you can complete the investment switch form available here. By completing the form you are able to switch investments without logging into your online account.

Where can I find the information sheets that were noted in the Significant Event Notice?

Accumulation Information Sheet

Pension Information Sheet