SMSF investment strategy template (2026–27)

Every SMSF in Australia must have a written investment strategy, and every audit checks it. Most trustees write one at setup, file it, and never look at it again — which is exactly how funds end up with an auditor contravention report. This guide covers what the law requires in 2026–27 and how to structure a strategy that passes audit first time.

New to self-managed super? Our fixed-fee SMSF setup service handles the trust deed, ATO registrations and rollovers end-to-end, and our SMSF administration fees are published up-front so you can budget accurately from day one.

01The factors your strategy must cover

02The insurance factor most trustees forget

Since 2012 the strategy must explicitly consider insurance for each member. You do not have to hold cover — you have to consider it and document the decision either way. A single line recording that members hold personal cover outside super is enough. Silence is not.

03Concentrated portfolios — property

If you'd rather have this handled for you, easySMSF offers online SMSF setup from $899 and transparent ongoing SMSF administration fees that include the annual audit.

If your SMSF holds a single asset representing most of the fund — direct property is the common case — the ATO expects the strategy to explain why that concentration is acceptable. Reference the investment horizon, rental yield, member contributions and other liquidity sources. A strategy that lists diversification as a goal while the fund holds 90% in one property is a red flag every auditor will raise.

04How often to review

The Act says 'regularly'. Accepted practice is at least annually, and whenever something material changes — a new member, a large rollover, a new asset class, a pension commencement, or a change in member circumstances. Document the review in trustee minutes rather than silently editing the strategy.

05A structure that passes audit

1. 1Fund details, members, current balances and phases.
2. 2Investment objectives and target return.
3. 3Risk tolerance and time horizon for each member cohort.
4. 4Asset allocation ranges (for example Australian equities 30–60%).
5. 5Diversification analysis, or a fund-specific concentration justification.
6. 6Liquidity and cash-flow analysis, including known liabilities for the coming year.
7. 7Insurance consideration recorded for each member.
8. 8Review schedule, date and trustee signatures.

easySMSF includes a current strategy template tailored to your members in every setup, and runs the annual review as part of fixed-fee administration.