The Peroxide Princess had another rant against Industry funds. In it she alleged Self managed superannuation funds were the main competitors to Industry funds, HUH?
A few problems here.
Most industry experts believe you need about $1m to make an SMSF a goer! Industry funds do not target high net wealth individuals.
The companies that market SMSFs make financial advisors the bogeymen. Financial advisors are closely related to retail funds because they get trailing commissions. So the SMSFs obviously think the retail funds are the main competitors.
Indeed if you enter a retail fund without a financial advisor you will still pay the same expense!
When Industry funds advertise they clearly state they do not pay trailing commissions. It seems Industry funds therefore think their main competitors are retail funds!
Not a word from her on the higher cost and lower return retail funds
Amazing don't you think.
Two words from John Daley and Ross Gittins on the Super changes.