Editor's Choice
Platinum announces strategic review
|Platinum said following the review Platinum Capital and Platinum Asia Investments may be wound up.
Sequoia chief's job at stake in upcoming EGM
|Sequoia Financial Group will hold an Extraordinary General Meeting (EGM) in June that will consider a resolution to remove chief executive and managing director Garry Crole.
Scott Farquhar steps down from Atlassian
|After more than two decades at the helm, Scott Farquhar will step down as co-chief executive of Atlassian.
Goldman Sachs ditches robo-adviser Marcus Invest
|The investment bank is offloading Marcus Invest to Betterment just three years after announcing it will launch the digital adviser.
Videos
Brought to you by ![]()
Further Reading
 Sponsored by | Where do advisers invest their time?The stage 3 tax cuts have sparked discussions on bracket creep. Implementing a tax-effective investment strategy is crucial now more than ever. |
 Sponsored by | Quality and Yield. A Powerful combination.With central bank rates seemingly peaked, investors are not awaiting yield increases. We're bucking the trend with investment rates at decadal highs |
 Sponsored by | Why it could be a good time to be a growth contrarianGrowth-style companies are in vogue, but you may need to think outside the box to ensure you don't overpay. |
Products
Expert Feed
Why advisers should consider offering general insurance to HNW clients
I have read many articles over the years about servicing high-net-worth (HNW) clients in the financial services industry.
The role of AI in financial planning: Insights from the US
Ever since ChatGPT burst onto the scene late last year, generative AI has been front and centre of business discussions and financial planning, just like ...
Considerations when nominating a charity for your super upon death
There has been a lot of talk lately about the upcoming great wealth transfer, and you might be wondering where charities fit into all this.
The end of free money
With institutional investors prudently reassessing their risks in current market conditions and seeking safe havens in alternatives such as secured private ...
Featured Profile
Fiona Mann
HEAD OF LISTED EQUITIES AND ESG
BRIGHTER SUPER
BRIGHTER SUPER
Brighter Super head of listed equities and ESG Fiona Mann was shaped by a childhood steeped in military-like discipline and global nomadism. Andrew McKean writes.
Download the app Premium subscribers can access even more content from Financial Standard. |  |
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.