Minimise lost when transfering superanuation into different company

Discussion in 'Sharemarket Investing Platforms, Tools & Services' started by melbourne171, 9th Oct, 2016.

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  1. melbourne171

    melbourne171 Well-Known Member

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    I am planning to transfer superannuation into different fund manager. However, from my expeience, there is a big gap between transfer form lodgement date and the fund actually transferred. My super fund is in equity class (share) and high violation. I cannot control the exit price. If unfortunately, exit price is very low, I have a big loss.

    My idea is to switch super fund into cash/bond class when the share market is peak. Then lodge the transfer form to transfer into new company, also in cash class.

    The the approach above can minimise the risk of super fund violation.

    Any ideas?
     
  2. Marg4000

    Marg4000 Well-Known Member

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    Check with your super fund as to how long they take to implement a change. This information will be freely available.

    And since you plan to cash in when the market peaks, please share the date with us.
    Marg
     
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  3. melbourne171

    melbourne171 Well-Known Member

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    Based on my technical analysis, the next share market peak is around early or mid November. AORD is about 5900.
     
  4. Scott No Mates

    Scott No Mates Well-Known Member

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    Changing funds crystallises losses.

    Check with your fund what day they effect transfers as requests may be processed only once each week and you may miss out on a major movement.
     
  5. melbourne171

    melbourne171 Well-Known Member

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    in the past, I experienced lengthy time for the transfer process and unknown transfer date. fund manager could not tell me effective date.
     
  6. bunkai

    bunkai Well-Known Member

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    If you are looking for that level of control, perhaps an SMSF is the go.

    What is a super fund violation?
     
  7. Scott No Mates

    Scott No Mates Well-Known Member

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    CBus effect their transfers COB Tuesdays - get your request into the queue before their cutoff time.
     
  8. Marg4000

    Marg4000 Well-Known Member

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    Our fund specifies within two working days.
    I know sunsuper says if you put in the request before 3pm it goes through at the next day's price.
    I would be very wary of a fund that did not have a specified process.
    Marg
     
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