Amendments to section 4.09 in the Superannuation Industry Supervision Regulations (SIS) 2012 now require the SMSF trustees to “review regularly” their fund’s investment strategy. As part of this strategy, the following consideration MUST be made: “Whether the fund’s trustees should hold a contract of insurance that provides insurance cover for one or more members of the fund.” This consideration should be documented even if it is decided that no contract is to be held. By considering this annually it can be considered as a “regular review”.
If you have a self-managed superannuation fund, it is necessary to ensure that you have updated your investment strategy for the 2012/13 financial year and provide a signed copy to us.
SMSF investment strategy requirements