The Industry Super Network (ISN) has changed its name to Industry Super Australia (ISA), with chief executive David Whiteley saying the change reflected the growing role of industry superannuation in the nation’s economy.
The announcement comes after ISA formed a strategic partnership with the Financial Services Council, with the two associations to work together on the critical issues for superannuation in Australia.
“We’ve been successful advocates for making the system fairer - including the reforms to financial advice and the banning of commissions,” Whiteley said.
“And most importantly, our outperformance has meant better average returns to our members,” he added. “We’ve achieved this with a governance model that sees an equal representation of employers and employees who work together and act only in members’ interests.”
ISA represents five million members across the industry super fund sector who work for 600,000 Australian employers.
Super funds have built on early financial year momentum, as growth funds deliver strong results driven by equities and resilient bonds.
The super fund has announced that Mark Rider will step down from his position of chief investment officer (CIO) after deciding to “semi-retire” from full-time work.
Rest has joined forces with alternative asset manager Blue Owl Capital, co-investing in a real estate trust, with the aim of capitalising on systemic changes in debt financing.
The Future Fund’s CIO Ben Samild has announced his resignation, with his deputy to assume the role of interim CIO.