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Depends on your goal and timeframe.
If growth was your objective and you had 5+ years to invest, I would go for a geared share fund like the CFS Geared Share.
If income was your objective (eg to offset holding costs from cashflow negative property), then a fund like Navra AUS is a good choice, but again, only if you have an investment timeframe of 2-5+ years.
If tax effective income was your objective, then I'd consider something like an imputation fund which distributes franking credits from the dividends earned by the fund.
If you are saving for a specific purpose and are likely to need the money within the next 2 years, I'd go for a high interest savings account instead. ING / Rabobank / BankWest etc.
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Sim'
This is a general comment only and does not constitute advice. Before making financial decisions you should seek advice from a professional adviser, who can take into account your specific circumstances and investment goals.
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