If you pick up the top 20 shares according to index weighting, you will be pretty close to the equity exposure of most super funds. They do this because they do not want to be too far from the index performance. They then play around the edges to outperform (although on average they fail as most of the time the index outperforms the fund managers). I spend about 2 hours a year on admin for my SMSF (when I have so send all the information off to esuperfund for the annual return, tax and audit).
