Are they that good? It depends where you sit on the investment spectrum.
I have an SMSF and don't believe in leaving others to manage my money.
I have a friend who is in an industry fund with comparable funds.
He has asked me should I go into an SMSF? my answer NO. Why.......because you are not the personality type to be managing your own money.
The moral of the story is that probably about 90% of Aussies don't care much for the day to day running of doing it yourself. Not many care to educate themselves about money, wealth and asset accumulation over a lifetime because it's years before they perceive to be any personal benefit.
So back to my friend he averages returns of about 8%-10% pa over the last 10 years, great returns. I average about 5%-7% over the same period.
Why would you manage your own money then? Well that's another question with many reasons, but I'm satisfied with my returns.
It may be a fad but one that suits many people because they lack understanding or interest.
Remember Joh's great saying "you let me worry about that".
