A self-managed super fund (SMSF) can have a very long investment horizon.
That is why I think quality should sit at the centre of the portfolio.
Three ASX shares I think could suit that role are named in this article.
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ResMed Inc (ASX: RMD)
ResMed is an ASX healthcare share I would be happy to own in an SMSF.
The company is a global leader in sleep apnoea treatment and connected respiratory care. Its devices help patients start therapy, while masks, accessories, software, and data tools support ongoing treatment.
I like that model for a long-term portfolio. The initial device sale is only part of the story. Patients often need replacement masks, cushions, tubing, and other supplies. That creates a recurring element that can support high margins and long-term earnings growth.
The sleep health market also remains underpenetrated. Many people with sleep apnoea have not been diagnosed or treated, which gives ResMed a long runway if awareness and testing continue to improve.
There are risks from competition and new treatment options, but I think ResMed's brand, scale, and patient ecosystem remain valuable.
Xero Ltd (ASX: XRO)
Xero is another world-class business I would consider for an SMSF.
This ASX share provides cloud accounting and financial software for small businesses, accountants, and bookkeepers.
What I like is that Xero can become part of the operation of a small business. Invoicing, payroll, payments, tax, reporting, and cash flow are not occasional tasks. They are central to how a business runs.
That gives the platform a strong position if it continues improving.
Xero also has a large international opportunity. Australia and New Zealand are strong markets, but the UK and US could provide a much longer runway if management executes well.
Artificial intelligence (AI) could add another growth engine. Small business owners often spend too much time on admin. If Xero can automate more of that work, its software could become even more valuable.
For an SMSF, I think Xero offers exposure to a global software business with many years of growth still ahead.
Macquarie Group Ltd (ASX: MQG)
Macquarie Group would give an SMSF a very different type of world-class exposure.
It is not a traditional Australian bank. Macquarie has operations across asset management, commodities and global markets, banking, financial services, and investment banking.
That variety is one reason I like it. The group can benefit from infrastructure investment, energy transition, commodities volatility, private markets, capital flows, and specialist financing.
Earnings can be uneven from year to year. That is part of owning a business exposed to markets and investment activity.
But over long periods, Macquarie has shown an impressive ability to adapt and find attractive areas to deploy capital.
I think that adaptability is valuable for an SMSF with a long horizon.
Foolish Takeaway
An SMSF portfolio does not need to be filled with only defensive assets. I think there is room for high-quality growth shares that can compound over many years.
ResMed, Xero, and Macquarie share one useful trait: they have built strong positions that would be difficult for competitors to copy quickly.
That is the kind of business I would want working inside a super portfolio for the long term.
