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Features Australia

Business/Robbery, etc.

How to combat corporate activism

15 May 2021

9:00 AM

15 May 2021

9:00 AM

It’s only one word – inserting ‘financial’ between ‘members’ and ‘best interests’ – that should kill off much of the political correctness that is corrupting Australia’s multi-trillion fund management industry. Under the fiercely criticised ‘Your Super Your Future’ legislation to operate from this July, superannuation trustees (of particular relevance to union-controlled Industry Super Funds) will no longer be able to splurge their members’ compulsory superannuation contributions on such non-financial (and politically oriented) follies as starting the New Daily newspaper or social agenda campaigns unrelated to the ‘financial best interests’ of their members.

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