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ASMA says SMSFs should invest in property

The Australian Self Managed Super Fund Members Association (ASMA) is calling on members to invest more into the property sector.
Financial Standard online reports that ASMA claims that speculation about property bubbles are exaggerated and untrue.
The claim followed speculation within the RBA that a combination of new rules allowing investments through SMSF and low interest rates could be overheating the property market.
ASMA said a survey of 3000 members showed that about 20 per cent had property in SMSFs, while about 65 per cent invested in Australian shares.
AMSA said investments in residential property by SMSFs had increased to $20 billion since 2006, which was not a significant amount.
The organisation also claimed that the share market was more likely to experience a property bubble because it was volatile. However it said members were not often warned about those risks because large financial institutions and industry super funds manufactured products along those lines.
ASMA said the residential property market was worth $4.2 trillion and urged its members to diversify more into property using an SMSF, rather than less.
Source: http://www.financialstandard.com.au/news/view/35029578