A growing number of Australians are choosing to take control of their retirement savings by setting up their own DIY super fund, also known as a self-managed super fund (SMSF). In fact, at $400 billion, the total combined value of SMSF assets now accounts for the largest slice of Australia’s superannuation wealth.
There were 458,561 DIY super funds at the end of 2011, up 7% from a year earlier, Australian Taxation Office (ATO) figures show. Meanwhile, there were 873,903 members, or an average of two members per fund.
The explosion in DIY super funds comes off the back of the global financial crisis, with many Australians disappointed by the performance of their investments during the tumultuous years since 2007.
DIY super funds allow trustees – the formal name for those who run an SMSF – greater flexibility in managing their investments compared with other types of super vehicles. For instance, an SMSF can not only own stocks and fixed interest securities, but it can hold property, artwork, collectables and even odd-ball investments such as race horses or club memberships.
Advice for SMSFs
Demand for investment advice, education and information on running a DIY super fund has increased as the uptake of this type of investment vehicle has trickled down to mainstream mum and dad investors.
The Switzer Super Report has stepped in to fill this thirst for knowledge by providing trustees with access to the investment opinions of some of the country’s leading financial experts.
If you’re looking for valuable insight into SMSFs, this website covers everything from starting your DIY super fund to running it, and everything in between, including stock recommendations, fixed interest investment advice, new products, regulatory compliance issues, tax optimisation and much more.
Search our pages for some of the free content available, or for full access, sign up for a no obligation 21-day free trial.
The Switzer Super Report will be emailed to you twice a week and will:
- Tell you which shares to buy, hold or sell.
- Find you the best fixed interest rates.
- Update you on ATO rulings and what they mean for your fund.
- Road test products for your SMSF.
- Analyse alternative investments – from artwork to property.
- Guide you through strategies to use in your SMSF.
- Provide advice on share buybacks and other corporate actions.
- Help you maximise your SMSF’s after tax investment returns.
- Answer your questions in Ask & Tell.
Important information:Â This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. Anyone should, before acting, consider the appropriateness of the information in regards to their objectives, financial situation and needs and, if necessary, seek professional advice.
