BDS campaign against Israel

December 15, 2023

Australias superannuation funds have over $3.5 trillion under management. Industry funds are increasingly questioning Board performance, especially remuneration recommendations. The representative structure of industry fund boards employers, members, and independent directors suggests a reflection of the priorities of those constituencies, albeit within the directors fiduciary duties to the fund and its beneficiaries. Given the increasing realisation by the general public of the horrific, not to mention illegal, mass slaughter of the Palestinian population in Gaza by Israels Defence Forces, fund members should expect something more than a purely financial, politically “neutral, position from those who manage our retirement savings. Some time ago I asked my fund whether it supported the BDS campaign, receiving a brief no. My fund has invited participation in its AGM early in 2024. Other funds may have a similar time frame. I will be submitting questions for the trustee to consider and provide members with its attitude to finial support for Israel. Paul Heywood-Smith could provide useful support by drafting suggested questions to be put to fund AGMs.