Whilst always important, reviewing the investment strategy of your SMSF in  these turbulent times, is even more critical so that the best possible investment choices can be made.

Trustees need to prepare and implement an investment strategy that is centred on the requirements of the fund and its members. The strategy should enable the trustees to measure investment performance against the retirement income goals of the members. Additionally, it should be reviewed and updated regularly.

The investment strategy must reflect the purpose and circumstances of the fund and consider:

• the needs of members for example: age, income, employment and retirement needs
• appropriate diversification and the benefits of investing across asset classes in a long term investment strategy
• the paying of benefits to members when they retire and the other costs associated with running a fund

Once the investment strategy has been set and/or reviewed, all investment decisions must be made in accordance with the strategy.