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Inquiry into ASX ownership pointless : ASFA

ASFA chief executive, Dr Martin Fahy, said: “as investors acting in the best financial interests of their members, superannuation funds are proactive in holding corporate Australia to account and in ensuring strong and effective governance. “…this inquiry flies in the face of the international experience and appears to advocate for a bygone era in which executives were free to run the firm in their interests rather than in the wider stakeholder interests of customers, employees, and indeed the superannuants that are invested in them. The last 18 months has shown Australian superannuation funds to be highly capable in calling out inefficiency and shareholder value destruction.

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