RBF introduces default option
RBF has introduced a new product default option, RBF MyPath.
According to the company, RBF MyPath applies a lifecycle strategy designed for members who want RBF to utilise its skills and expertise to manage their superannuation investments throughout their different life stages.
It said that over 48,700 RBF members — with funds under management of close to $1.76 billion — transferred to RBF MyPath in March.
Acting Chief Executive Officer Nick Connor said members had been segmented into 10 RBF MyPath groups, or target date funds, based on members' dates of birth in five-year cohorts.
"Each RBF MyPath group follows a glidepath with the investment strategy of the cohorts changing through the lifecycle as the members approach retirement," he said.
"Up until the age of 50, investments will focus on growing member's superannuation wealth. From the age of 50, members' investments will gradually be de-risked until the age of 65, where the investment will shift to a conservative strategy designed to offer more security for members' capital investments as they approach retirement."
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