A while back, due to ATO rules (moving overseas > 2 years), I had to close down my SMSF. So I rolled it over into an ING managed account where you can choose shares.
They really make it difficult to invest in any one sector. They basically try to enforce you to "diversify" by only allowing a maximum allocation of 10% of your total portfolio value into any one share. They also further limit choices to ASX 300 shares.
Despite all their limits I managed to find a few good ETFs and miners, and have literally doubled my superannuation account value in the past year, without making any contributions.
Had I been able to keep my SMSF running, it would have been worth 5 times what my super is now worth. It was heavy in physical Gold and Silver. At the time I ended it, the ATO were making it more and more difficult to hold physical PMs in super, the accountant's fees almost doubled every year, the ATO started charging crippling fees, and my accountant was hinting that the physical PMs need to be physically audited every year.
They really make it difficult to invest in any one sector. They basically try to enforce you to "diversify" by only allowing a maximum allocation of 10% of your total portfolio value into any one share. They also further limit choices to ASX 300 shares.
Despite all their limits I managed to find a few good ETFs and miners, and have literally doubled my superannuation account value in the past year, without making any contributions.
Had I been able to keep my SMSF running, it would have been worth 5 times what my super is now worth. It was heavy in physical Gold and Silver. At the time I ended it, the ATO were making it more and more difficult to hold physical PMs in super, the accountant's fees almost doubled every year, the ATO started charging crippling fees, and my accountant was hinting that the physical PMs need to be physically audited every year.
