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Features Australia

Business/Robbery, etc

Union superfunds’ questionable assets need fixing

18 March 2023

9:00 AM

18 March 2023

9:00 AM

Shonky? There is a $372 billion question mark hanging over the real value of unlisted assets held on behalf of Australian workers in Australia’s $2.2 trillion professionally managed superannuation funds supervised by the Australian Prudential Regulation Authority. And two-thirds of this problem, $240 billion, is at the door of the union-dominated industry super funds that the government has been seeking to protect from the transparency that must be extended into this unsatisfactorily secretive area of valuing unlisted assets.

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