Keeping track of your managed funds
Managing your fund
Your fund manager will keep you up to date with regular
statements and information to help you complete your tax
But you still need to keep track of your investment.
Read performance reports from your fund manager
The law requires you to be updated on your investment at least
once every 12 months. You should read performance reports and
statements carefully to understand how the investment is performing
and whether the investment continues to meet your objectives.
Critically assess the performance information provided by the
fund manager. They may only be comparing the performance of your
fund to similar funds, and not the market generally.
There are a number of independent research providers who can
provide comparison information about managed fund performance, or
you may ask your financial adviser for this information.
Identify red flags
If you are concerned about your investment, try these company
Keep all the statements you are given
You should receive statements from your fund manager at least
once or twice a year. Check the financial statements to make sure
they accurately reflect your investment holdings.
Ensure that any correspondence from the fund manager about your
investments is sent to your street or email address. Your financial
planner might offer to receive and look after your correspondence
from the fund manager. If you agree to this, you might miss
important information and effectively lose control over your
investments. The risk of fraud also becomes higher.
Case study: Samira tracks her managed funds
Samira, 36, receives a statement from
her fund manager about the performance of her investment. The
numbers look great, but she decides to do some extra research.
After going to an independent research provider, she discovers her
fund is not performing as well as similar funds over a 3 to 5 year
period. Samira decides to keep an eye on her fund in case it keeps
Don't just rely on your fund manager for
information. It's important to do your own research and keep up
with what's happening in the market.
Last updated: 20 Jun 2017