EISS Super is investigating a breach of confidentiality of board documents being sighted by the Electrical Trades Union of Australia (ETU) union.
Answering questions during a parliamentary hearing, EISS chair, Peter Tighe was asked whether he was aware of any director who had shared board documents with a union.
Tighe said there was an issue in relation to documents being sighted by a shareholder that may have been provided by a director.
“There has been a process put in place to investigate that because of those documents are confidential to board discussions,” he said.
“…I understand the documents might have been sighted by the ETU.”
Tighe said he was not fully aware of the details but that the investigation was internal to the operations of the board.
Super funds had a “tremendous month” in November, according to new data.
Australia faces a decade of deficits, with the sum of deficits over the next four years expected to overshoot forecasts by $21.8 billion.
APRA has raised an alarm about gaps in how superannuation trustees are managing the risks associated with unlisted assets, after releasing the findings of its latest review.
Compared to how funds were allocated to March this year, industry super funds have slightly decreased their allocation to infrastructure in the six months to September – dropping from 11 per cent to 10.6 per cent, according to the latest APRA data.