FINC3600 Finance in Practice S1 2022 Project 2: Preliminary Research Checklist
Investment Goals & Objectives
Portfolio Review
Portfolio Management Process
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Portfolio Strategy & Asset Allocation
Investment
Selection & Implementation
7 Feb 2022
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Introduction
Prior to Week 9 you want to develop some basic insights in the superannuation system in Australia. Therefore, it is important that every team member has a working knowledge of the system. This includes the key institutions as well as an understanding of how the system is monitored and regulated.
One way to learn about the superannuation system is to put yourself in the position of a “member” (some of you already are members). How might you explain the operation of a superannuation fund? What sorts of decisions do members need to make?
Bearing this in mind, a few Superannuation topics to research are given below.1 Where available we provide an initial link to get your search and discovery underway. Be sure to discuss these queries and resources with your assigned group for today.
Institutional Checklist – Key Questions
• What is the role of superannuation in Australian financial markets? How does the system compare with ordinary private savings that any member can undertake? Are there similar systems in other countries?
• Who are the key players in the superannuation system? o Funds
o Regulators
• What types of superannuation accounts / investments are there?
o By the investment structure?
o By the type of superannuation institution? o By the member?
• How would you learn about possible superannuation providers?
• What is the organizational structure used by a superannuation fund? What is the role of
members within this structure?
• Who are the Board members of a superannuation fund? For an industry fund how are these
board members selected?
• How would you learn about the investments that superannuation funds make on behalf of
their members? To what extent does a member have a say in how their money is invested by their superannuation fund? What happens if a member changes their mind about how they want their funds allocated? What happens if a member moves or changes jobs?
• What is a MySuper fund? How is it presented to the members?
• When a member reaches retirement age how does their superannuation fund provide an
income stream?
1 Be sure to keep copies of resources and links that you find so you can return to them later.
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Performance / Economic Outlook Checklist – Key Questions
In addition to questions about the structure of the superannuation system and its participants there are also a range of issues that are important to investors more generally:
• What are some common types of asset classes for Australian investors?
• What has been the historical performance of a range of asset classes?
• Is there anything particularly noteworthy about these different asset classes at this time?
• How would you characterise the state of the global economy? The Australian economy?
• What is a reasonable outlook for factors such as inflation and economic growth?
• What is a reasonable outlook for investment returns to various asset classes?
• What is asset allocation? What is the difference between tactical and strategic asset
allocation? Life-cycle (target date) allocation?
Member Outcomes Checklist – Key Questions
• Choose a few different examples of members. For each of these members what would be a reasonable account balance at retirement for them to have a comfortable retirement?
• Visit a superannuation fund or information site. Using an online calculator how likely is it that this particular goal will be met given plausible parameters for each example?
You are not required to document the preliminary research in any set format, but you must be able to respond to the practitioners where discussion may involve some of these “key questions” at the first workshop in Week 9.
As a guide, you should expect to spend a minimum of three hours on preliminary company research (but certainly no more than five hours).
We will review / discuss the checklist and related resources during our online session in Week 2.
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