Unit of competency Outline
Date retreived
23/07/2026 7:59 AM AWST
23/07/2026 7:59 AM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Invest self-managed superannuation funds assets
Invest self-managed superannuation funds assets
Unit of competency
National Code
FNSSMS501A
FNSSMS501A
State Code
D4327
D4327
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
31/07/2014
Field of Education
081105 - Investment And Securities
Original Release Date
31/07/2014
Nominal Hours
60
Description
This unit describes the performance outcomes, skills and knowledge required to assist trustees with the investment of self-managed superannuation fund assets. It encompasses supporting trustees in devising investment objectives, devising investment strategies, selecting investment services providers, ensuring regulatory limitations are adhered to, complying with investment reporting requirements, monitoring investment services providers activities and monitoring cash flow.This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by the Australian Securities and Investments Commission (ASIC).
Notes
Elements and Performance Criteria
1. Assist trustees to devise investment objectives
- 1.1. Investment objectives are established to meet the financial requirements of the client
- 1.2. Investment objectives are recorded in accordance with legislative investment requirements
2. Assist trustees to devise investment strategy
- 2.1. Portfolio benchmarks are developed for the investment strategy
- 2.2. Investment strategy is developed in accordance with legislative and organisational requirements
- 2.3. Products are selected so that defined financial objectives can be achieved
- 2.4. Asset allocation/mix is determined so that investment objectives will be met
- 2.5. Appropriate strategic variables are determined
3. Assist trustees in the selection of investment services providers
- 3.1. A range of performance criteria for service providers is established
- 3.2. A preferred list of service providers is established
- 3.3. Service providers are reviewed against established performance criteria to ensure the correct selection
- 3.4. Suitable service providers are appointed that meet the established performance criteria
4. Assist trustees to ensure regulatory limitations are adhered to
- 4.1. Fund assets are invested in accordance with legislation requirements/trust deed requirements.
5. Assist trustees to comply with investment reporting requirements
- 5.1. Member communication and disclosure requirements are provided in accordance with legislative requirements
- 5.2. Reports produced by investment managers are received by trustees
6. Assist trustees to monitor investment service provider's activities
- 6.1. Specialist advice is sought as identified and necessary (such as financial planners)
- 6.2. Assets are allocated to investments (or investment dealers) in accordance with trustee's decisions
- 6.3. Investment reports are analysed
- 6.4. Fund results are reviewed against documented fund objectives and strategies
- 6.5. Reallocation of assets is ensured according to results achieved/ or strategy direction
7. Assist the trustee to monitor cash flow
- 7.1. Liquidity requirements of the fund are managed taking into consideration current and future liabilities
RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Legislative investment requirements may include:
arm's length test
Australian Prudential Regulation Authority (APRA) - changes of asset allocation
Australian Taxation Office (ATO) requirements
in-house asset test
limitations of derivatives
prohibiting of acquisition of assets from members/relations
prohibiting of borrowing
prohibiting of loans
prudent person test
small fund arrangements
sole purpose test.
Strategic variables may include:
current and future liabilities
diversification of investments
liquidity
risk and return
time horizons.
Service providers may include:
asset providers
consulting actuarial firms
custodians
investment managers.
Liquidity requirements may include:
administration costs
benefit payments (transfers out)
consultants' fees
government levies and charges
insurance costs
taxation.
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Legislative investment requirements may include:
arm's length test
Australian Prudential Regulation Authority (APRA) - changes of asset allocation
Australian Taxation Office (ATO) requirements
in-house asset test
limitations of derivatives
prohibiting of acquisition of assets from members/relations
prohibiting of borrowing
prohibiting of loans
prudent person test
small fund arrangements
sole purpose test.
Strategic variables may include:
current and future liabilities
diversification of investments
liquidity
risk and return
time horizons.
Service providers may include:
asset providers
consulting actuarial firms
custodians
investment managers.
Liquidity requirements may include:
administration costs
benefit payments (transfers out)
consultants' fees
government levies and charges
insurance costs
taxation.
EVIDENCE GUIDE
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
devise investment objectives to meet client needs and strategies to support their objectives
access appropriate investment service providers
interpret and apply investment legislative and deed requirements
monitor service provider activities.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to organisation financial records
access to organisational policies and procedures.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity, which combines the elements of competency for the unit, or a cluster of related units of competency
observing processes and procedures in workplaces
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports
setting and reviewing workplace business simulations or scenarios.
Guidance information for assessment
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
devise investment objectives to meet client needs and strategies to support their objectives
access appropriate investment service providers
interpret and apply investment legislative and deed requirements
monitor service provider activities.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to organisation financial records
access to organisational policies and procedures.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity, which combines the elements of competency for the unit, or a cluster of related units of competency
observing processes and procedures in workplaces
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports
setting and reviewing workplace business simulations or scenarios.
Guidance information for assessment
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUT09 | FNSSMS501 | Invest self-managed superannuation funds assets | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| J604 | FNS60513 | Advanced Diploma of Superannuation | Qualification |
| D720 | FNS50711 | Diploma of Superannuation | Qualification |