My Self Managed Super Fund is too volatile and expensive.
May 6, 2008 by Josie Kay · Leave a Comment
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Q. My Husband and I have a SMSF (at the suggestion of our Adviser) of about $600K, I have an Industry Fund i.e. First State Super (NSW) of around $99K, with a diversified portfolio we are paying our adviser 1.25%, plus the accountant for the Tax return.
During the times of extreme volatility the Industry fund was not “hammered” nearly as much as our own fund, we are considering moving all funds to the Industry,as the fees are much less. Can or should we and what could be the implications e.g. CGT etc We are both 57 and not working and may need to draw down in the near future.Josie’s answer: As you did not mention where your funds are invested within your Self Managed Superannuation Fund (SMSF) it is difficult for me to provide an opinion as to whether you should redeem these investments and transfer to an industry fund, such as First State Super (NSW). However, I would like you to think about the following:-
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