I've got my super in an industry fund and for the last 6 months I've been using its 'ASX200' option to build up a share portfolio in super.
The advantage of the industry fund is low cost, only $52/year to use this facility, regardless of the size of the portfolio etc. I've heard it costs at least $1500/year to run a SMSF.
You also pay brokerage of course. This is to Macquarie equities and rates arer higher than some. Min brokerage $12.50, 0.3% up to $10,000, 0.2% for amounts greater than this. I typically buy parcels around $15,000, so the brokerage is actually less than my NAB account which is min $29.95.
Shares are actually held by National Nominees, but I get all the benefits of dividends, franking credits etc.
Biggest disadvantage is the way you buy or sell. You can only by or sell 'at market'. You place an order by midnight on Sunday and then Macquarie Equities buys or sells for National Nominees on Monday. Your price is the average price of all the shares bought or sold for National Nominees on the Monday. So you can't take advantage of short lived opportunities. I look at my shares in super as long term investments, so I can live with this.
I still don't know how it all works when your shares are subject to takeover, rights issues etc.
Anyone else doing this or any comment?