Alas, I am not yet retired, which is one of the reasons I can't devote inordinate amounts of time at this point on investing. That said, I don't mind work too much, so its not a major issue for me.
On currencies (and more broadly hedging) I'm not that interested. It seems to me that any interest in currencies is best for people who speculate in them. Otherwise, I'm happy taking the vagaries of their (usually relatively minor, compared to equities at least) movements and not paying to hedge - I almost always prefer to "self-insure" given the option. That said, VAGP is hedged - however I don't believe there is an unhedged equivalent.
Perhaps when we reach drawdown phase, as opposed to the current accumulation one, we may take a different view. However, that is more likely to spread our risks between GBP and AUD assets as they are likely to be, in some combination, where we spend most time during retirement. However, reasonable inheritances are likely to come at some point (not that we're in any hurry for them or need them to live on) weighted more to one than the other - so I wouldn't want to "rebalance", so to speak, too early. Further, in any case, many of these GBP and AUD assets are in effect global anyway, rendering such hedging somewhat moot.
Currently, tax considerations and reporting are not an issue for us - everything is tax sheltered in one form or another - in April I completed the last bit of that for the kids (their grandparental money was outside the JISA - it took a couple of tax years to shift it in alongside the current contributions and keep it under the annual limit).
Finally, as mentioned earlier, though I think it may be a decent idea to put SGLN and/or IWDP or similar in, especially to the ISA's and SIPP's (less so, JISA's) I'm not sure the theoretic marginal risk vs return improvement is worth the effort. Maybe I just need to consider a broader Commodity ETF*, e.g. COMM (though I'd need to do a little more to understand this particular ETF if so) or Commodity Investment Trust, e.g. BRWM - which I thought seriously about doing many months ago, but, alas, didn't have the courage of my convictions - and may now have missed that boat
![Sad :(](./images/smilies/icon_e_sad.gif)
Regards, Newroad
* which would sit better with me than straight gold