“All trustees of SMSFs need to know and understand their responsibilities and continually monitor and review their SMSF investment strategy,” said Hugh Elvy, Head of Financial Planning and Superannuation at the Institute.
Other tips for guidance include:
- Remember that superannuation is a long term investment – stick to your investment plan.
- The fundamentals of investing for a superannuation fund during a financial crisis include regularly reviewing the SMSFs investment strategy to ensure adequate liquidity, understand the risk and return trade-off, invest in quality sound assets and investments and sell underperforming assets and investments.
“It is extremely important to remember that it is the trustees’ responsibility to monitor the current economic conditions. Absorb the information in the media and from industry professionals. The more you know the better your decisions”.
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