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Evidence Guide: FNSSMS511 - Invest self-managed superannuation fund 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

 

FNSSMS511 - Invest self-managed superannuation fund assets

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

Assist authorised representative to establish objectives and strategy

  1. Identify trustee’s investment objectives according to available information provided by authorised representative
  2. Develop portfolio benchmarks from investment objectives
  3. Determine asset allocation and mix so that portfolio benchmarks and investment objectives can be met
  4. Compare asset allocation to relevant strategic variables
  5. Develop and document investment strategy according to legislative, organisational and trust deed investment requirements
Identify trustee’s investment objectives according to available information provided by authorised representative

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:

 

 

 

 

 

 

 

Compare asset allocation to relevant strategic variables

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assist authorised representative in selecting investment service providers

  1. Determine shortlist of preferred service providers for clients according to investment objectives
  2. 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
Determine shortlist of preferred service providers for clients according to investment objectives

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assist in monitoring investment service provider activities

  1. Gather and interpret reports provided by relevant service providers according to legislative, organisational and trust deed requirements
  2. Compare results against documented investment objectives and strategy
  3. Ensure reallocation of assets according to results achieved and investment strategy
  4. Provide member communication and disclosure requirements to client
  5. Manage fund liquidity requirements considering current and future liabilities
Gather and interpret reports provided by relevant service providers according to legislative, organisational and trust deed requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Compare results against documented investment objectives and strategy

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure reallocation of assets according to results achieved and investment strategy

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide member communication and disclosure requirements to client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Manage fund liquidity requirements considering current and future liabilities

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Required Skills and Knowledge

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.

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.