Just came across this today. Seems like it was launched earlier in the year. Thought I'd share it, though my initial impression is I'll likely stick with ETFs or LICs since they're generally lower cost.
Looks to be just an ASX listing of various managed funds. Difference is no need to fill out lots of forms.
Management fees of the funds still look pretty high when compared to ETFs though.
Some of the fixed interest funds may provide different levels of access compared to the limited range of bond ETFs in Australia.
Only downside I can see is you might be better off going through one of the sites that provides an entry fee rebate, and some also provide trailing commission rebates over a certain threshold ($300-$400 pa).