For Australia's growing community of self-managed super fund (SMSF) trustees, long-term thinking is everything.
With over 625,000 SMSFs holding a collective $990 billion in assets as of 30 June 2024, according to the ATO, more Australians than ever are taking control of their retirement outcomes — and doing so with an eye on quality, sustainability, and growth.
If you're managing your own super, choosing the right ASX shares can make a significant difference to your wealth over time.
The goal? Own companies with durable advantages, strong leadership, and clear growth runways that can compound for years to come.
With that in mind, here are three excellent ASX shares that analysts think could make strong long-term additions to any SMSF portfolio. They are as follows:
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Goodman Group (ASX: GMG)
Goodman Group is a standout in the property space. Instead of shopping centres or office towers, it focuses on high-demand industrial assets like warehouses, distribution centres, and data infrastructure.
It is a pure play on the rise of e-commerce, supply chain modernisation, and the cloud economy. Major global names like Amazon and Microsoft are Goodman tenants, and the company has a development pipeline geared towards supporting data centre.
Citi currently rates Goodman as a buy with a $40.00 price target.
ResMed Inc. (ASX: RMD)
Another ASX SMSF share to look at is ResMed. It is a global leader in sleep and respiratory medicine, known for its innovative CPAP machines and digital health solutions. The company's technology helps millions of people around the world manage sleep apnoea and chronic respiratory conditions — and demand is only rising.
For SMSF investors looking to invest in healthcare innovation with global scale and recurring revenue, ResMed ticks all the boxes.
Goldman Sachs rates the company very highly. It has a conviction buy rating and $49.30 price target on its shares.
Xero Ltd (ASX: XRO)
Finally, Xero could be an ASX share to buy for an SMSF. It has grown into one of Australia and New Zealand's biggest tech success stories — and there's still a long road ahead. The company provides cloud-based accounting software to just over 4 million subscribers globally, with deep penetration across ANZ and increasing traction in key international markets.
Xero generates recurring, high-margin revenue, and while it's still investing for growth, the business is now focused on profitability and operating leverage. Its customer base of small and medium businesses is loyal, sticky, and growing — making it a compelling software-as-a-service (SaaS) play for long-term investors.
Goldman Sachs estimates that it has a 100 million total addressable market. This gives it a significant growth runway over the next decade or two.
It is for this reason that Goldman has a buy rating and $201.00 price target on its shares.
