I have not looked at managed super fund fees for a while, but recall most wanted fixed admin on going fees of min of 2% plus per annum......... I started a small fund for family members, those funds are limited to 4 members, over 2.5 years members put in about 2,500 pa each ( includes the govt co-contribution), I doubled their investments in that time........something you will never get with industry funds (which is what swan is looking at) they would be better off allowing up to 10 members in each fund..........pooling several funds together to achieve the min 200,000........which would suit my family, lots of young ones starting in the workforce, with compulsory super looking for a home.... the online superfund managers charges of 599 seem unreal compared to the amount of paper work involved........but good for users...........
The ATO has found a couple of examples where people have rorted the system........so now they are going after everyone......... btw going by the posters on hc over the years, there is a lot of misunderstanding about smfs. oh and I know of one big investor who uses his superfund to buy out companies..........well its always in the name of the superfund.............and that is definately not allowed under the smfs rules.....hint its a dodgy company, supposedly paid .30 a share on the last deal, shares now trading sub .03 ps I know of some people ready to pull the plug on their super investments should labour make any changes......in fact they are very nervous about labours attitude to super.. cheers
