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Vanguard launches SMSF functionality

Vanguard has launched a self-managed super fund capability within its Personal Investor offering.

Through Vanguard Personal Investor, SMSFs will be able to trade the top ASX shares by market capitalisation at $19.95 or 0.15% per trade (whichever amount is greater will be charged).

SMSFs will also have access to an interest earning Vanguard cash account.

"As a global fund manager with a deeply rooted commitment to advocating for the end investor, Vanguard Personal Investor represents our pledge to challenging the status quo and providing Australian investors with more low-cost investment options," a Vanguard spokesperson said.

"We decided to proceed with the launch of the Personal Investor offer amid the COVID-19 health pandemic and resulting share market volatility because we wanted to give Australian investors the ability to benefit from lower investment costs, irrespective of the prevailing market conditions."

Vanguard previously announced that its Personal Investor offering would be rolled out progressively, with SMSFs being the second phase. Joint accounts and financial adviser accents will come next.

Investors with SMSFs operated through either individual or corporate trustee structures and who meet the eligibility criteria can open a Vanguard Personal Investor SMSF from today.

"Vanguard Personal Investor offers investors a differentiated focus compared to their current brokerage account," the spokesperson said.

"Through it, investors have a clear incentive to consider long-term wealth creation through managed funds at wholesale rates and Vanguard Australia's listed ETFs brokerage free. The website has been designed to assist investors by having functionality and a look and feel that aims to promote diversified, long term investing rather than short term trading."

Vanguard has been moving towards a super offering for Australia, firming up a superannuation team earlier this year.

Earlier this month Vanguard named Balaji Gopal to lead the Personal Investor business. Gopal replaces Lori Mighton who has returned to the US after successfully establishing Personal Investor in Australia.

Read more: Vanguard Personal Investor SMSFVanguard AustraliaBalaji GopalASXLori Mighton
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