Most funds fail to beat the Market index that they are compared to, so not necessarily a good idea unless you want wide exposure to markets that are expensive to access directly. If you buy the top 10 to 15 ASX shares you will get close to the returns of most equity funds as they invest similarly. Given Aussie strength you could buy an unhedgesbglobal equities fund for some protection if commodities tank.
Really depends on the risk you want to take. Watch out for the fees
