Preparing for 30 June: Super Funds Reporting Market Valuations and Investment Strategies

Super fund trustees are being reminded to ensure they have accurate market valuations of their assets as the end of the financial year approaches. Chris Reed, co-director of Business Concepts Group, emphasized the importance of reporting market valuations for properties, shares, and listed investments in a recent podcast.

Reed highlighted the need for trustees to reach out to relevant valuers for assets such as properties, artwork, or collectibles that may not have publicly known prices. He also stressed the importance of reviewing investment strategies to ensure they are still in line with the fund’s objectives.

Sarah Power, co-director at Business Concept Group, added that significant changes to a fund’s portfolio should be carefully considered, especially in light of events like the COVID-19 pandemic. Trustees are advised to update their investment strategies to reflect any changes in their portfolio.

With tax legislation changes on the horizon, Reed suggested that now is the perfect time for trustees to plan strategies for the upcoming financial year. He urged trustees to seek advice on optimizing their tax and contribution strategies to best suit their individual situations.

As the financial year comes to a close, super fund trustees are encouraged to take proactive steps to ensure their funds are in good standing and compliant with regulations.