I will add a bit more to this, speaking as someone who worked...

I will add a bit more to this, speaking as someone who worked for one of the big 4 banks for over 20 years, including achieving Tier 1 General Advice in Superannuation accreditation. I also have established many a bank account for self managed super funds.

The wording in the trust deed document for an SMSF basically dictates what the trustees can invest in.

SMSF's can be expensive fee wise, especially for funds with a lower balance.

The majority of you will probably be surprised to know that directly investing in individual shares is an option available within some retail super funds.

The retail super funds don't want use to know this, because they will lose out on management fees.

It may pay to check with your individual fund provider, if you do not want to go down the SMSF path.

If you ring them and say you can't directly invest in shares within your fund (which most of them will probably say) ask them to put it in writing or point out where it says that on the website or in their Product Disclosure Statement (PDS).

If your funds were invested in some sort of managed funds they make very nice management fees off them.

My information is general only, and not specific advice.