FNSSMS511
Invest self-managed superannuation fund assets


Application

This unit describes the skills and knowledge required to support an authorised representative in assisting a trustee to devise investment objectives and strategies, invest self-managed superannuation fund assets, select investment services, and ensure compliance and monitoring. Importantly, this unit does not involve financial dealing or providing specific financial product advice.

The unit applies to those who use specialised knowledge and systematic approaches to prepare and analyse detailed information that supports investment and compliance activities.

No licensing, regulatory requirements, legislative or certification requirements apply to this unit at the time of publication.


Elements and Performance Criteria

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Assist authorised representative to establish objectives and strategy

1.1 Identify trustee’s investment objectives according to available information provided by authorised representative

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

1.4 Compare asset allocation to relevant strategic variables

1.5 Develop and document investment strategy according to legislative, organisational and trust deed investment requirements

2. Assist authorised representative in selecting investment service providers

2.1 Establish performance criteria for service providers according to organisational policies and procedures

2.2 Determine shortlist of preferred service providers for clients according to investment objectives

2.3 Review and appoint service providers according to established performance criteria

2.4 Communicate and explain investment objectives and strategy to investment service providers so they may invest assets into products according to legislative and trust deed requirements

3. Assist in monitoring investment service provider activities

3.1 Gather and interpret reports provided by relevant service providers according to legislative, organisational and trust deed requirements

3.2 Compare results against documented investment objectives and strategy

3.3 Ensure reallocation of assets according to results achieved and investment strategy

3.4 Provide member communication and disclosure requirements to client

3.5 Manage fund liquidity requirements considering current and future liabilities

Evidence of Performance

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

assist authorised representative(s) to support at least three different trustees in investing self-managed superannuation fund assets according to legislative, organisational and trust deed requirements.

In the course of the above, the candidate must:

demonstrate effective communication skills while interacting with authorised representative(s) and service providers.


Evidence of Knowledge

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

legislative and trust deed requirements relating to investing self-managed superannuation fund assets, including those relating to investment reporting

organisational policies and procedures relating to:

using effective communication skills

devising and documenting investment objectives and strategies

identifying and evaluating potential service providers, including for creating performance criteria

methods for analysing cash flow and liquidity requirements of superannuation funds

key features of investment reports

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

variables relating to investment strategies.


Assessment Conditions

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

organisational financial records

organisational policies and procedures

organisational equipment, technology, software and consumables.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.


Foundation Skills

This section describes those language, literacy, numeracy and employment skills that are essential to performance but not explicit in the performance criteria.

SKILL

DESCRIPTION

Numeracy

Seeks information using active listening and questioning techniques to confirm understanding

Interprets and analyses mathematical information from complex reports, and documents and performs basic calculations relating to self-managed superannuation funds

Oral communication

Provides advice to required personnel using language and register appropriate to audience and purpose

Reading

Selects, synthesises and critically evaluates evidence from a variety of sources containing complex and embedded information

Writing

Records and consolidates related information precisely and concisely

Planning and organising

Takes responsibility for following policies, procedures and legislative requirements, ensuring that compliance obligations are fulfilled, and that own knowledge is up-to-date

Technology

Uses technology to communicate with required persons


Sectors

Self-managed superannuation