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Evidence Guide: FNSSMS501 - Invest self-managed superannuation funds assets

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

FNSSMS501 - Invest self-managed superannuation funds assets

What evidence can you provide to prove your understanding of each of the following citeria?

Assist trustees to devise investment objectives

  1. Establish investment objectives to meet financial requirements of client
  2. Develop portfolio benchmarks from investment objectives
  3. Determine asset allocation and mix so that portfolio benchmarks and investment objectives can be met
Establish investment objectives to meet financial requirements of client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop portfolio benchmarks from investment objectives

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assist trustees to devise investment strategy

  1. Compare asset allocation to appropriate strategic variables
  2. Develop investment strategy in accordance with organisational and legislative investment requirements
  3. Document investment strategy in accordance with organisational and legislative requirements
Compare asset allocation to appropriate strategic variables

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop investment strategy in accordance with organisational and legislative investment requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document investment strategy in accordance with organisational and legislative requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assist trustees in selection of investment services providers

  1. Establish range of performance criteria for service providers
  2. Establish preferred list of service providers for clients
  3. Review service providers against established performance criteria to ensure correct selection
  4. Appoint suitable service providers that meet established performance criteria
  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
Establish range of performance criteria for service providers

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish preferred list of service providers for clients

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review service providers against established performance criteria to ensure correct selection

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Appoint suitable service providers that meet established performance criteria

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assist trustees to monitor investment services provider activities

  1. Gather and interpret reports provided by relevant service providers
  2. Compare results against documented investment objectives and strategies
  3. Ensure reallocation of assets according to results achieved or strategy direction
Gather and interpret reports provided by relevant service providers

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Compare results against documented investment objectives and strategies

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure reallocation of assets according to results achieved or strategy direction

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assist trustees to comply with ongoing management of fund

  1. Provide member communication and disclosure requirements in accordance with legislative requirements
  2. Ensure reports produced by service providers are received by trustees
  3. Manage liquidity requirements of fund, taking into consideration current and future liabilities
Provide member communication and disclosure requirements in accordance with legislative requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure reports produced by service providers are received by trustees

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

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

Required Skills and Knowledge

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.