Industry funds and corporates must talk more: Sherry

One thing that worries me about the Liberal Party is their philosophical hatred of unions and the assumption that they do not fundamentally represent their member's interests. I have been involved in now defunct corporate and surviving industry funds at the trustee level (as an employer representative) and have found the union representatives to be incredibly astute and professional and responsible with their member's money. Fundamentally they (the member nominees, usually union elected officials) consider that their positive participation is the final positive action that they can undertake for the benefit of their lifelong members.

Nick Sherry's insinuation that industry funds do not make the best investment decisions on behalf of their members is typical of ex-Labor gun-for-hire politicians that want to get a larger slice of the Superannuation cake for their new employers. In my experience industry fund trustee's and associated investment committees are usually very sceptical about the various sales presentations (beauty parades) that they have to sit through. This character is a positive attribute because they are not easily taken in and generally never stay for the $5 hats and lunches. They are to busy,

Their astuteness is proven by the fact that industry funds consistently outperform the retail funds. I do not know about SMSF's results as this time-bomb does not publish scientific results, only anecdotal ones.

If the Liberal Government (Sinodinas), because of their hatred of unions, ends up destroying Industry Funds effectiveness and proven long term benefit to its members, they will be forever condemned by Australians. Leave them alone.

I'm sorry that my comment covers a bit more turf than the original article deserves.

"...the fact that industry funds consistently outperform the retail funds." What proof have you for this. I say NIL.
A REAL FINANCIAL PLANNER can provide consistently returns for clients which out perform Industry funds by 100% to 300% without significant risk. Certainly without the risks of investing in poor performing direct property assets or private equity share holdings or in art work or in alternatives where the funds invested end up in dubious, incomprehnsive "hedge funds", as many industry funds chose to use.
Ask any reputable Funds Manager whether they can donate amounts (of a size requiring public disclosure) to the Liberal/National Party without industry funds withdrawing their invested funds. The motives of industry fund trustees is always clearly for the benefit of UNIONS (not Fund Members) from what I have seen.