Australian retail super funds that can invest in gold

Discussion in 'Superannuation' started by goldpelican, Oct 29, 2012.

  1. goldpelican

    goldpelican Administrator Staff Member

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    Is anyone aware of Australian retail superannuation funds that allow exposure to gold through vehicles such as PMGOLD?

    There are scenarios where a SMSF is not a viable option - such as a new entrant into the workforce, or residency status (such as working outside of Australia for more than 2 years).
     
  2. bron suchecki

    bron suchecki Active Member Silver Stacker

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    Perth Mint's default super oiperator is Spectrum and we had PMGOLD added to their list of approved ASX securities you can do direct investment in.
     
  3. taz

    taz Member Silver Stacker

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    I was just about to ask this very question!!

    I have just converted my super out of shares into cash & I'm looking at a SMSF but not sure that I have the funds to make it worth while ($100K) but still want to get some exposure to PM's through in my super.

    Transferring to a retail fund that allows PM investment is obviously the next best thing.
     
  4. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    UniSuper are bringing out a product that will give you exposure to a basket of commodities, precious metals being one of them. You won't be able to go all in for PM though and you won't be able to chose just Gold or Silver.

    $100K sounds like it is well worth going the SMSF route, especially if you want to invest in precious metals.
     
  5. goldpelican

    goldpelican Administrator Staff Member

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    Ah the fine print :( You would still be up for thousands of dollars a year in fees if you just went 100% PMGOLD and left it there.

    Up to a 4.1% contribution fee! That's an abominable amount!
     
  6. willrocks

    willrocks Well-Known Member Silver Stacker

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    ^^^ So we may see financial advisers selling paper gold soon. As long as they get their cut.
     
  7. taz

    taz Member Silver Stacker

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    Thanks Jis & GP,

    yes those costs are tad high aren't they.

    I've only just started to investigate the SMSF route & will look into it in a bit more detail now.
     
  8. bron suchecki

    bron suchecki Active Member Silver Stacker

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    Agreed, except that the Mint agreed some very good fees for its staff.
     
  9. Fykus

    Fykus Member Silver Stacker

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    i decided to start an smsf and had nowhere near 100k in super, so id say its definately worth it.
     
  10. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    Tas/Fykus,

    Just Do It. Especially if you've got $100k or less. Otherwise you'll never get ahead...they'll just keep leeching you dry.

    If you're not going to go down the online route (i.e.eSuper) like me, the only hard part is shopping around for an accountant (firm) that you feel comfortable with.

    They'll set-up the trust, make you Director(s), get your ABN/ACN and organise your audits. All you'll have to do is set up a bank account for the super funds to be transfered into.

    (After your intial rollover) You'll probably have to wait till you build up sufficient funds in your account to make a decent purchase, so you'll only have a few reciepts to supply/ keep track of each year.

    So that's maybe 2 purchase receipts each year... how easy is that to keep track of?
     
  11. monalisa

    monalisa New Member

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    Hi Clawhammer

    I am in this same boat - considering SMSF with my twin sister.

    I totally agree with your point of never getting there! For me it will take forever to accumulate what is considered acceptable amount for an SMSF - and I may miss out on opportunities/growth I may get in the present.

    As noted by you, there wont be much activity in the fund if PMs are held, once the initial purchases are made.

    Leaning toward SMSF.

    Monalisa
     
  12. Dwayne

    Dwayne New Member

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    Bit late to the party, but www.netwealth.com.au allows direct purchase of securities - including PMGOLD and the various precious metals ETFs - e.g. ETPMAG etc. Up to 5% allocation each, so if you have say, 5% in 4-6 securities that's 20-30% allocated to precious metals.
     
  13. goldpelican

    goldpelican Administrator Staff Member

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    Thanks Dwayne, that might be exactly what I'm looking for.
     
  14. Dwayne

    Dwayne New Member

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    Works for me
     
  15. RhythmDoctor

    RhythmDoctor Active Member

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    Funny you say that Bron - before going into my own SMSF via eSuper - I had actually called Spectrum (who I was with at the time) and asked if I could buy PMGOLD with my fund.

    They said no.

    Perhaps they didn't understand what I wanted, but they seemed very adamant that I couldn't buy anything of the sort.
     
  16. Slam

    Slam Well-Known Member Silver Stacker

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    If you have around 30k+ on super. Just start a SMSF provided you are contributing to it yearly, the fees arent that much more than the superfunds above. Less restrictions provided its legit for SMSFs.

    $699 + $180 SMSF Levy per annum isn't alot for fees anyway. Rope in a sibling or partner and halve the costs.

    At the end of the day you get to buy physical and keep a closer eye on the PMs.

    You don't need 100k for SMSF's. I started up SMSF 2 years ago and havn't looked back.

    Are you guys wondering why there are so many super ad's out there? Boomers withdrawing, members doing full withdrawals to put into SMSFs. I believe its like a run on the funds, you might as well get ahead of the pack before the government starts changing rules to restrict full withdrawals or rollovers from these large funds.

    Slam
     
  17. goldpelican

    goldpelican Administrator Staff Member

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  18. Slam

    Slam Well-Known Member Silver Stacker

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    Thanks GP, makes sense if you want exposure to PMs. But not able to setup a SMSF.

    I guess the next question is are there any funds that allow more then 5%? OR more specifically "all in" on PMs within the fund?

    Slam
     
  19. bron suchecki

    bron suchecki Active Member Silver Stacker

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    Maybe they added PMGOLD to the list of direct share investments for our corporate fund only, but that would seem unusual. I would push back and say that Perth Mint employees in their Spectrum accounts have PMGOLD as an ASX direct shares option, so if those Trustees have allowed it why can't you have access to it as well.
     
  20. RhythmDoctor

    RhythmDoctor Active Member

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    Thanks for the advice Bron - I've decided to go all in with eSuper regardless... cheap enough deal to acquire physical - I consider the costs to be rather small considering I get to buy physical metals for my super.

    I love the fact that you share the same name as the man who fires this all-powerful arrow in Game of Thrones - I wonder if you've ever had a reference to it?

    [youtube]http://www.youtube.com/watch?v=ZNMjZdoKl7I[/youtube]
     

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