8Investment strategy

#### 8 Investment strategy 8 Investment strategy > > (1) The trustees must determine and give effect to an investment strategy for the Fund (the investment strategy) and a strategy for the prudential management of any reserves of the Fund (the reserves strategy). > > > (2) The investment strategy must have regard to the circumstances of the Fund, including but not limited to the following— > > > > > (a) the risk involved in making, holding and realising, and the likely return from, the investments having regard to the schemes’ objectives and their cash flow requirements, > > > > > (b) the composition of the investments as a whole, including the extent to which the investments are diverse or involve exposure to risks from inadequate diversification, > > > > > (c) the liquidity of the investments having regard to the schemes’ cash flow requirements, > > > > > (d) the ability of the Fund to discharge its existing and prospective liabilities, > > > > > (e) any other matter which a trustee is required to consider in determining an investment strategy under the [Superannuation Industry (Supervision) Act 1993](http://www.legislation.gov.au/) of the Commonwealth. > > > (3) The reserves strategy must be consistent with the investment strategy and the ability to discharge the existing and prospective liabilities of the Fund (whether actual or contingent) as and when they fall due. > > > (4) In determining the reserves strategy, the trustees must have regard to any other matter which a trustee is required to consider in determining a reserves strategy under the [Superannuation Industry (Supervision) Act 1993](http://www.legislation.gov.au/) of the Commonwealth. > > **s 8:** Rep 1991 No 95, Sch 3 (10). Ins 1997 No 42, Sch 1.2 \[4\].