The cash ties between funds and Industry Super
The cash ties between funds and Industry Super
A number of prominent industry funds have revealed the amounts they contribute to lobby group Industry Super Australia under questioning from Liberal backbencher Tim Wilson.
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As part of questions on notice for the House economics committee’s inquiry into the super sector, Tim Wilson, who chairs the committee, asked industry funds to divulge the dollar amounts they had contributed to Industry Super over the past five years.
The Liberal MP has been a strident critic of the industry funds sector, with ISA accusing him of conducting a political witch-hunt against it through his interrogation of funds at committee hearings.
IFM reveals gender split, Industry Super payouts 27 April 2021
The investment manager has again cried foul at a parliamentary inquiry, but not without exposing how much it has paid out to its owners, as well as the skewed gender balance at the top levels that it is working to fix.
In recently published responses to questions on notice from the House of Representatives standing committee on economics, IFM Investors said it had distributed dividends totalling $52.3 million to parent company Industry Super Holdings during the last five years.
The holding company is in turn owned by 27 industry super funds, including AustralianSuper, HESTA, Cbus and UniSuper.