SMSF administration provider Xpress Super and RateSetter have forged an integration partnership increasing the type of investments available on the administration platform to include peer-to-peer lending.
The initiative means Xpress Super clients will now have direct access to their account with RateSetter.
“Two of the key benefits of running an SMSF is the ability to select your own investments, as well as invest in financial products not accessible with other superannuation vehicles,” Xpress Super chief executive Olivia Long said.
“This is exactly what RateSetter allows SMSF trustees to do.”
Long added the two organisations seemed to be a natural fit with one another.
“RateSetter and Xpress Super have a shared belief in the importance of transparency, control and delivering value to investors,” she said.
“Xpress Super’s automated, paperless platform gives investors live, up-to-date information, helping them make informed decisions about their superannuation investments and simplifying their year-end accounting, and this service extends to new investment classes, such as peer-to-peer lending.”
RateSetter chief executive Daniel Foggo explained his organisation was looking to open investment areas such as consumer and small business credit to SMSF investors who were looking for new asset classes to generate better portfolio returns in a low interest rate environment.
“Until now, investing in consumer and small business credit has been an option only available to a privileged few, including large wholesale investors and the banks,” Foggo said.
“By working with partners such as Xpress Super, we’re giving SMSF investors an easy, simple-to-manage option to access this attractive, established asset class.”
Since its inception in 2014, RateSetter has facilitated in excess of $130 million in peer-to-peer loans, with 20 per cent of those funds originating from the SMSF sector.