If you want to stack your SMSF portfolio FULL with blue-chip ASX dividend shares, keep reading…

What every SMSF wants

In an economy characterised by record-low interest rates and a hot property market, blue-chip dividend shares have significant appeal – especially for Self-Managed Superannuation Funds.

For one, they are liquid. Meaning you can sell a blue chip share in just a couple minutes and receive your money three days later (soon to be two). For comparison, a property can take months to settle.

Second, Australian blue chip shares can pay SMSF portfolios franking credits. Indeed, the tax-effective structure of SMSFs can result in a tax credit from the franking paid by ASX blue chips.

Lastly, growth is up for grabs. While we can only glean so much from the history books, shares have time and again proven to outperform other asset classes. So although they are riskier, if you’ve got a long-term focus, buying quality shares for your SMSF seems like a viable investment strategy.

4 ASX shares your SMSF cannot ignore

So if you think your SMSF could do with some quality blue chip shares yet don’t know where to start, the following four companies could be worthy of closer inspection.

  1. Westfield Corp Ltd (ASX: WFD)

Westfield Corp is the global arm of Westfield shopping centres, with properties in London, New York, San Francisco and Los Angeles. The company is regularly updating and expanding its portfolio of assets for long-term growth. Coupled with its handy dividend and US-dollar profits, Westfield Corp could be considered a core blue chip shareholding.

  1. ResMed Inc. (CHESS) (ASX: RMD)

ResMed is a leading device manufacturer used in the treatment of respiratory conditions like sleep apnoea. Its market is large and growing, providing a long-term tailwind. Listed on both the New York and Australian share exchanges, ResMed is a diversified business offering modest growth and a handy 2% dividend to boot.

  1. Telstra Corporation Ltd (ASX: TLS)

Telstra needs no introduction given its standing in the local telecommunications market. But although its local businesses are dominant, the telco continues to grow both locally and internationally. With 100% franking expected on its dividend payment, Telstra is forecast to pay a gross dividend equivalent to 8% — try getting that at the bank!

  1. Wesfarmers Ltd (ASX: WES)

Wesfarmers is the name behind some of Australia’s most popular non-discretionary brands (think: Coles, Kmart, Target, Bunnings and Officeworks). Therefore, for the long-term investor, Wesfarmers could feature prominently in an SMSF – provided shares are purchased at a reasonable price.

Foolish Takeaway

If you’re in control of your SMSF, well done. You’ve taken a bold but potentially rewarding step towards reaching your financial goals. In a well-diversified portfolio of assets, I think the above four companies are worthy of a spot on your blue chip share watchlist.

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Motley Fool writer/analyst Owen Raszkiewicz owns shares of ResMed Inc.. Owen welcomes -- and encourages -- your feedback on Google+, LinkedIn or you can follow him on Twitter @ASXinvest.

Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.