Assessor Resource

FNSSMS501
Invest self-managed superannuation funds assets

Assessment tool

Version 1.0
Issue Date: April 2024


This unit describes the skills and knowledge required to assist trustees (the client) with devising investment objectives and strategies, investing self-managed superannuation fund assets, selecting investment services, compliance and monitoring. Importantly, this unit does not involve financial dealing or specific financial product advising.

It applies to individuals who use specialised knowledge and systematic approaches to prepare and analyse detailed information that supports investment and compliance activities.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)


Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Assist trustees to devise investment objectives

1.1 Establish investment objectives to meet financial requirements of client

1.2 Develop portfolio benchmarks from investment objectives

1.3 Determine asset allocation and mix so that portfolio benchmarks and investment objectives can be met

2. Assist trustees to devise investment strategy

2.1 Compare asset allocation to appropriate strategic variables

2.2 Develop investment strategy in accordance with organisational and legislative investment requirements

2.3 Document investment strategy in accordance with organisational and legislative requirements

3. Assist trustees in selection of investment services providers

3.1 Establish range of performance criteria for service providers

3.2 Establish preferred list of service providers for clients

3.3 Review service providers against established performance criteria to ensure correct selection

3.4 Appoint suitable service providers that meet established performance criteria

3.5 Explain investment objectives and strategy to investment service providers so they may invest assets into products that are in accordance with legislated and trust deed requirements

4. Assist trustees to monitor investment services provider activities

4.1 Gather and interpret reports provided by relevant service providers

4.2 Compare results against documented investment objectives and strategies

4.3 Ensure reallocation of assets according to results achieved or strategy direction

5. Assist trustees to comply with ongoing management of fund

5.1 Provide member communication and disclosure requirements in accordance with legislative requirements

5.2 Ensure reports produced by service providers are received by trustees

5.3 Manage liquidity requirements of fund, taking into consideration current and future liabilities

Evidence of the ability to:

demonstrate effective communication skills while interacting with clients and service providers

develop investment strategies and documentation that:

meet client needs and objectives

comply with legislative, organisational and trust deed requirements

review results from service providers, comparing with objectives and strategies, and recommend any adjustments required.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

identify and evaluate the range of potential service providers

analyse cash flow and liquidity requirements

summarise the key features of investment reports

compare and contrast techniques for establishing investment objectives that meet legislative requirements and risk profiling

outline a range of variables relating to investment strategies

identify and interpret investment reporting and legislative requirements

explain organisational policy and procedures when devising and documenting investment objectives and strategies.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the self-managed superannuation field of work and include access to:

organisational financial records

organisational policy and procedures

common office equipment, technology, software and consumables.

Assessors must satisfy NVR/AQTF assessor requirements.

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Assist trustees to devise investment objectives

1.1 Establish investment objectives to meet financial requirements of client

1.2 Develop portfolio benchmarks from investment objectives

1.3 Determine asset allocation and mix so that portfolio benchmarks and investment objectives can be met

2. Assist trustees to devise investment strategy

2.1 Compare asset allocation to appropriate strategic variables

2.2 Develop investment strategy in accordance with organisational and legislative investment requirements

2.3 Document investment strategy in accordance with organisational and legislative requirements

3. Assist trustees in selection of investment services providers

3.1 Establish range of performance criteria for service providers

3.2 Establish preferred list of service providers for clients

3.3 Review service providers against established performance criteria to ensure correct selection

3.4 Appoint suitable service providers that meet established performance criteria

3.5 Explain investment objectives and strategy to investment service providers so they may invest assets into products that are in accordance with legislated and trust deed requirements

4. Assist trustees to monitor investment services provider activities

4.1 Gather and interpret reports provided by relevant service providers

4.2 Compare results against documented investment objectives and strategies

4.3 Ensure reallocation of assets according to results achieved or strategy direction

5. Assist trustees to comply with ongoing management of fund

5.1 Provide member communication and disclosure requirements in accordance with legislative requirements

5.2 Ensure reports produced by service providers are received by trustees

5.3 Manage liquidity requirements of fund, taking into consideration current and future liabilities

Evidence of the ability to:

demonstrate effective communication skills while interacting with clients and service providers

develop investment strategies and documentation that:

meet client needs and objectives

comply with legislative, organisational and trust deed requirements

review results from service providers, comparing with objectives and strategies, and recommend any adjustments required.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

identify and evaluate the range of potential service providers

analyse cash flow and liquidity requirements

summarise the key features of investment reports

compare and contrast techniques for establishing investment objectives that meet legislative requirements and risk profiling

outline a range of variables relating to investment strategies

identify and interpret investment reporting and legislative requirements

explain organisational policy and procedures when devising and documenting investment objectives and strategies.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the self-managed superannuation field of work and include access to:

organisational financial records

organisational policy and procedures

common office equipment, technology, software and consumables.

Assessors must satisfy NVR/AQTF assessor requirements.
Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Establish investment objectives to meet financial requirements of client 
Develop portfolio benchmarks from investment objectives 
Determine asset allocation and mix so that portfolio benchmarks and investment objectives can be met 
Compare asset allocation to appropriate strategic variables 
Develop investment strategy in accordance with organisational and legislative investment requirements 
Document investment strategy in accordance with organisational and legislative requirements 
Establish range of performance criteria for service providers 
Establish preferred list of service providers for clients 
Review service providers against established performance criteria to ensure correct selection 
Appoint suitable service providers that meet established performance criteria 
Explain investment objectives and strategy to investment service providers so they may invest assets into products that are in accordance with legislated and trust deed requirements 
Gather and interpret reports provided by relevant service providers 
Compare results against documented investment objectives and strategies 
Ensure reallocation of assets according to results achieved or strategy direction 
Provide member communication and disclosure requirements in accordance with legislative requirements 
Ensure reports produced by service providers are received by trustees 
Manage liquidity requirements of fund, taking into consideration current and future liabilities 

Forms

Assessment Cover Sheet

FNSSMS501 - Invest self-managed superannuation funds assets
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

FNSSMS501 - Invest self-managed superannuation funds assets

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: