Then we have Self Managed Super Funds which are the fastest growing type of funds.The difference between a Self-Managed Superannuation Fund (often described as ‘do-it-yourself funds’) and traditional superannuation funds is that they allow you to have the total control of your money. A fund enables each member to be directly involved in the decision making process and to look after their own interests. It also provides flexibility for retirement planning, estate planning and insurance strategies.
There are currently over 500,000 SMSFs representing in excess of 1,000,000 Australians managing their own funds. There are countless investment options available for you to exercise your personal choice in investment, ranging from domestic and international equities, bonds and/or term deposits and property, to derivatives, tax advantaged schemes and managed funds. The list of investments to choose from is endless! It all depends on your risk profile and what goals you wish to achieve with your superannuation.