Guys, there are two types of SMSF approaches.
Get your own SMSF. I have this type.
Advantage, you can invest in any thing you want. Small caps, risky business, blue chips, etc, etc.
Disadvantage, expensive. You need at least 1/2 mill to make it worthwhile. Need to set-up company, banking business accounts, directors, etc, etc. Also ongoing fees.
Go into a SMSF fund.
Advantage, All regulatory requirements taken care of. Put your money in and you can pick your investments.
Disadvantage, restrictions on where you can place your funds in the share market.
This is adding a layer of protection.
Don't have experience, but I would assume minimum requirement is ASX 300.
Hopefully this is correct and helpful.
ASX 300, page-16
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