Superannuation includes retail, industry and self-managed funds (SMSFs). The average balance for APRA-regulated funds is around $100k. Amongst the 550,000 SMSFs in Australia, the average balance is approximately $1.0M in assets. However, it is increasingly viable to use low-cost platforms to maintain SMSF balances of $100-200k.
The main advantage of superannuation (whether through managed funds or SMSF) relate to taxation, which exaggerates compounding over time. Otherwise, investing privately within superannuation is no different to investing outside of a superannuation environment. Other relevant considerations include insurance, estate planning and accessibility.
In particular, SMSFs allow a degree of control over APRA-regulated funds and fixed maintenance costs. However, these trends are currently changing as the superannuation industry seeks to protect over $1-2 trillion (and expanding).
Amongst the myriad websites on financial planning and legislation, there is a comprehensive eBook (aimed at Mum and Dad investors) available at: http://smsf.sfg.com.au/
I hope this is of some assistance. (I am not an accountant; please do not accept this as advice.)
