Rupert Murdoch's News Corp Australia has launched its superannuation investment platform.
The platform is designed to diversify News Corp's earnings as well as take a slice of Australia's enormous super pool. It is being marketed to News Corp staff at a discount. Costs are yet to be disclosed.
The platform is a tie-up between News Corp's investment publication, Eureka Report, and the administration platform operator OneVue.
It represents a U-turn for Alan Kohler's Eureka Report, which has traditionally written for people with self-managed super funds without selling them services.
Australian Independent Business Media, publisher of business site Business Spectator and the Eureka Report, was bought by News Corp in June 2012 for $30 million in an offer, Mr Kohler told staff, its owners "couldn't refuse".
It's believed Eureka Report's subscriber numbers have fallen since its 15,500 subscribers at the time of the sale.
The platform, first reported by Fairfax Media a month ago, is not limited to people with self-managed super funds and will also target people with low balances.
Mr Kohler, the Eureka Report editor-in-chief, said last month the move was about "better serving existing customers and possibly getting more".
James Leplaw, executive general manager, brightday and Eureka Report, said: "We are pleased to be able to bring our subscribers a solution that will enable [them] to take an even more active role in managing their finances."
OneVue chief executive Connie Mckeage said the agreement "represents a natural extension of OneVue's development as a wholesale provider of technology and services for intermediaries providing wealth solutions for their investors and members".
In an email to staff, News Corp said: "News Corp has always had a strong and successful culture of re-examining the accepted way of doing things, and brightday fits strongly into this ethos. Furthermore, brightday is an important strategic move for our company, extending the diversification of News Corp Australia's assets beyond our core traditional media base.
"Russell Investments will remain as News Corp Australia's default super fund and there will be no impact on any existing staff superannuation arrangements as a result of this announcement.
"However, for any staff wanting to make a change to their current super investment arrangements, James Leplaw says that brightday provides a new alternative to consider. brightday is also offering a staff discount to what it says will already be some of the lowest fees in the market."
