Yes, to set up and run your own SMSF it is a legal requirement to have an Investment Strategy in place so it is a “Complying Fund’. The strategy must reflect the purpose and circumstances of the fund and take into account these key points:
How to maximise its member’s returns while taking into account any risks.
Include diversification in long term investment strategies.
Ensure the fund has the ability to pay benefits as members retire as well as other expenses incurred by the fund.