Financial Standard Comments - Super funds hit back at anti-carbon tax groups

Comment by cynical ()

cynical () — Thu, 04 Aug 2011 13:32:29 +1000

These funds and investment managers need to realise that they are only guardians of other people's money, and a great many of those people feel very threatened by the proposed carbon tax. Personally, I would be very concerned if my super fund or investment manager was taking an active position in this debate.

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Comment by Disgusted ()

Disgusted () — Thu, 04 Aug 2011 16:20:31 +1000

These fund managers have no right whatever to take a partisan approach on the issue until and uless they canvass their members to ascertain every individual's support for or objection to the carbon tax.

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Comment by Concerned ()

Concerned () — Thu, 04 Aug 2011 17:26:12 +1000

Interesting issues..
1. It is not up to fund managers to decide whether an advert is misleading that is the role of the court
2. the role of the fund managers should not go beyond acting in the best 'monetary' interest of their shareholders, legal precedent supports this. This is still a grey area however and a case could possible be made for a potential breach of duties by these fund managers if someone were to pursue a complaint.

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Comment by Be logical ()

Be logical () — Thu, 04 Aug 2011 22:32:43 +1000

The cost to the environment will impact on investment return - if action is not taken now your super will go down the gurgler. We are all hurting financially.
Some people think of the future and are prepared to consider innovation and change - it happened in the industrial revolution too. Others think only of the now. But the now will not last

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Comment by LEWIS WATERS ()

LEWIS WATERS () — Fri, 05 Aug 2011 10:05:00 +1000

Industry Super Funds are always going to support the Labor Government because of their union background and leftist leanings. What else would you expect.

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Comment by Exasperated ()

Exasperated () — Fri, 05 Aug 2011 14:31:03 +1000

Did the coal mining and retail companies get the unanimous support of all shareholders before they took such a partison position or is anything anti Gillard OK?

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