Issue 9: Portfolio rebalancing – evolution or revolution?

March 2020

Thank you for joining in again and I trust that you, your family and friends are all well.

There has certainly been a lot of water under the bridge since our last instalment less than a month ago and understandably many will be concerned regarding the combination of a global health emergency that has led to global financial uncertainty.

In our first instalment in July last year, I indicated that these short pieces relate to my personal experiences and ideas and that these should not be taken to be advice. If you are concerned about recent events and need specialist help or guidance regarding your SMSF, please seek appropriate advice from a professional.

Over my time investing and managing a SMSF I have seen a number of significant financial events that have impacted financial markets, these include the crash of 1987, the events of 911 and the global financial crisis (GFC). With regard the first, I did not have a SMSF; the second I had recently started one with my wife and we were in accumulation; during the GFC, we were starting to transition to retirement.

As is the general guidance when these events present themselves, the one thing that I recall in common with each was that I did not panic and rush to sell investments, as it turns out for different reasons.

This instalment is about rebalancing portfolios; not especially in the light of recent events, though I believe it has relevance in this regard, but more by way of helping to ensure you are meeting your investment strategy objectives over the longer term for all members in your SMSF.

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Ian Irvine – Guest Contributor

Ian has been a keen investor for over 40 years and can draw on his experiences from both investing on his own behalf and also having worked in financial services for more than 30 years. Over this time, he has seen many changes that impact investors’ attitudes to in what and how they invest.

He started his career in what is now referred to as fast moving consumer goods (FMCG) or grocery, working for an Australian margarine manufacturer. In 1986, he was recruited to Westpac around the time of deregulation of the sector, where he spent 10 years before taking a role at AMP and then with ASX for 14 years up to the end of 2017. He continues to be involved with ASX; working on their educational programs.

In 1996, he and his wife established their own SMSF and again the experience and lessons learned regarding managing an SMSF over the years have provided him with many insights and ideas. He enjoys sharing these with others where these are helpful and always suggest that if an investor or SMSF trustee is unsure, that they should seek appropriate advice from a licenced professional.

Ian holds a B. Com (UNSW), and lives in Sydney and enjoys travelling to and meeting investors and SMSF trustee at the educational events with which he has involvement with from time to time.