[1]Noel Whittaker writes weekly financial columns in publications across the country, has written 20 books and is the recipient of many investment awards. He is a Fellow of CPA Australia, the Taxation Institute, and the Australian Institute of Management. He also manages his own SMSF, and explains his strategy below.
Age: over 65
Other members of the SMSF: Only my wife
Location: Brisbane
What investments do you have outside of superannuation?
My own home and some investment properties and cash in the bank.
How long have you had your SMSF?
About 25 years.
Why did you start it up?
It enabled me to invest in assets, which were not available through a normal retail fund.
How big is it?
It is substantial.
Is it more or less difficult to manage than you thought it would be?
It’s extremely easy to manage because all the administration work is done by Superannuation Services Pty LTD, which charge about $5,000 a year for their services. I am appalled at the fees some of my friends are paying to their accountants. Figures of $10,000 a year to $15,000 a year are often quoted to me.
Are you pleased with its performance?
I’m extremely pleased with the performance – it is highly invested in Australian equities and the international side is run by top-flight managers.
What is your asset allocation?
It’s about cash 5%, fixed interest like hybrids 10%, direct property through
property syndicates 10%, alternative investments 5% and the balance spread evenly between Australian equities and international equities.
What are your favourite investments/stocks and why?
My best stock pick has been Magellan global funds – I bought 55,000 at one dollar$1 each and now they are $8 each! And I’m holding on!
Do you use an advisor or any kind of service provider?
To keep up to date for all the columns I write, I spend at least an hour every day talking to fund managers and economists. However, I also use the Praemium Choice platform to keep track of all the transactions. I couldn’t do without them.
Important: 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. Consider the appropriateness of the information in regards to your circumstances.
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