UBS Australia and FNZ Australia have signed a strategic alliance for the development and distribution of a direct-investment platform for superannuation funds.
The platform uses the same underlying technology as AustralianSuper's Member Direct service, which was launched at the end of last year, but will now be available to all super funds.
"You are aware that AustralianSuper already has a large platform offered by UBS," said UBS Platform Solutions head Scott Webster to InvestorDaily.
"The alliance with FNZ will be offered to other funds as well."
Under the alliance, UBS and FNZ will work together in the ongoing product design and delivery of tailored investment solutions for Australia's superannuation funds, the companies said.
"UBS and FNZ will both invest in improving the platform and functionality," Webster announced.
Although the platform is designed to offer self-managed superannuation fund (SMSF)-like functionality, including direct equities, exchange traded funds and model portfolios, it is specifically designed to work within a large super fund.
"This platform is focused on superannuation funds, not the SMSF space," Webster said.
"What we are offering is SMSF-like functionality, but it is very much structured to operate in the context of a large superannuation fund."
Webster said there had already been demand for the platform from other super funds.
"There are a number of organsations that we are in discussions with. There will be some imminent announcements," he said.
