Name: Robert Schiavuzzi
Age: 61
Other members of the SMSF: None – single member
How long have you had your SMSF?
Over 20 years.
Why did you start it up?
In the wake of the 87 crash I had money with one of the life houses – firstly with a stockbroker and then with the GIO. But I thought I’d have more control with an SMSF so I established my own fund.
How big is it?
Well in excess of $1 million.
Is it more or less difficult to manage than you thought it would be?
The administration is not onerous. Most of the work is done by the accountant. The investment management is done by me, but it’s something I would do anyway, because I have an interest.
Do you enjoy managing it?
Yes I do, because I have an interest in economics and investing.
Are you pleased with its performance?
Yes.
I don’t assess it in number terms from year to year.
My priorities are having a mixed bag of investment criteria, which involves more than just absolute return.
I don’t actually chase the highest return. I’m more interested in long-term returns. I am not so much a trader as a long-term investment.
Firstly I read extensively and I do research extensively. I read the financial press daily. I read certain economic texts and I make my decisions according to how I’m feeling at the time. I’m certainly not a chartist. I’m not purely a growth investor; I’m not purely a value investor. I’m all those things at various times.
What is your asset allocation?
I have 25% in cash and the remainder in equities. Around 80% of the equities allocation is in domestic equities and the rest is in international. I currently don’t have any bonds, but have in the past.
What are your favourite investments/stocks and why?
I don’t have bank stocks – I had plenty before. I like Qube, which I’ve been invested in for a long time.
As far as a de facto index fund goes, I like Argo Investments. I prefer listed equities i.e. a listed investment company, rather than an exchange traded fund.
For foreign investments I also used a listed vehicle – Platinum Capital rather than Platinum Asset Management. Until recently I had Magellan. I thought [Magellan] had had a very strong run. I had it from the early start.
What investments do you have outside of superannuation?
I have my own home and I have a mortgaged investment property.
Do you use an advisor or any kind of service provider?
I use an accountant.
Is there anything else you would like to tell us about your SMSF?
I’ve enjoyed running my fund.
There is nothing particularly mysterious about an SMSF. It’s really like any other investment. The essential difference is favourable taxation treatment.
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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