ASX Education: Do I need an SMSF?
Thanks to compulsory superannuation most people are invested in managed funds. You didn’t really make a choice to invest in managed funds but courtesy of the cozy relationship between employers and fund managers almost all of you tick that little box that says “put my super in your default fund” when you are employed. The net result is that 70% of the $2.11 trillion of Australian superannuation money is invested in professionally managed superannuation funds with the rest, $624 billion, invested through self-managed superannuation funds.
The managed fund industry is a huge industry and the game for big fund managers is to persuade employers to use them as the default fund for compulsory superannuation contributions. That’s why some of the biggest funds in...Continue Reading