Date of Release:         

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 "Threats of reform put DIY Super at risk".

CompareSMSF response to James Kirby article.

James Kirby, thank you for your article, "Threats of reform put DIY super at risk" (11/5). Your comments echo a growing disquiet from our online community of self-managed super fund members. We are becoming increasingly concerned with regard to key industry players' preoccupation with campaigns of "fright", and the pursuit of further "mandated" growth.  

If they are not questioning the competency of the DIY investor, then it is the "great risk and compliance burden" associated with being a SMSF trustee. 

Early this year, we observed with dismay the new battle line, attacking a competing gatekeeper to the vast superannuation riches and suggesting the need for a level playing field with the accounting profession. And now the latest instalment, the concentrated propaganda and positioning with submissions to Superannuation Minister Nick Sherry. 

The blatant self-interest of these campaigns is not only alarming, but so disappointing in terms of industry stewardship and vision. 

The rise of SMSF is not a "fad"; indeed, we believe that the superannuation industry only have themselves to blame for the substantial growth in the DIY superannuation segment. One of the real concerns emanating from the seismic shift associated with DIY super is that it has not yet prompted the industry into a prolonged period of self-reflection.  

The conclusion drawn from our community is that the industry seems to have grown fat on the back of a "legislated" contributions regime and, as a consequence, complacent.

January 14, 2008

Self Managed Super Fund members are paying closer attention to International Shares, and have an emerging appetite for Direct Residential Property. 

These are the key findings from the recent survey of SMSF intentions for the New Year by CompareSMSF. 

Aside from Australian Shares, over 37% of responses indicated they were most likely to invest in International Shares in 2008, followed by 22% expressing interest in Direct Property.

More ...

DIY Australian investors planning for retirement are taking an increasingly active role in managing their superannuation and proving themselves to be capable investors.

An overwhelming theme from the SMSF members involved in the development of the CompareSMSF site was their level of interaction with a large variety of on-line communities.

For the year ended 30 June 2007 alone, the estimated investment performance benchmark across all SMSF's was 20.2 %.# (building upon the prior year return of 18.9% #).