Register of Relevant Interests (2013-2014)

Register of Relevant Interests (2013-2014)
Prudential Standard 521 states that the RSE (Registrable Superannuation Entity) licensee must maintain a register of relevant interests relating to an RSE licensee, an associate of the RSE
licensee or a responsible person of the RSE licensee related to the Fund. A relevant interest refers to any interest, gift, emolument or benefit, whether pecuniary or non-pecuniary,
directly or indirectly held by the RSE licensee, the associate or the responsible person.
Name/entity
Duties relating
to IFI
Associates of RSE licensee
Industry Super
Directly held
Holdings (ISH) Pty Ltd.
investment
IFM Holdings Pty. Ltd
(IFM) and subsidiaries
Investment
manager
Last updated: 26 November 2014
Holdings in
Relevant
Service
Providers
Gifts and Soft
Dollar
Payments
$3.4m private
equity investment
(value as at 30 June
2014).
 $91.1m in IFM
Enhanced
Indexed
Australian
Equity Fund.
 $11.5m in IFM
Specialised
Credit Fund
(Fixed).
 $2.0m in IFM
Transaction
Cash Fund.
 $10.3m in IFM
Australian
Private Equity
Other Positions or
Interests
Potential Conflict
Identified
Action taken
N/A
ISH is the ultimate holding
company of IFI.
Allocation of funds to
ISH
N/A
IFI and IFM Holdings are
both subsidiaries of
Industry Super Holdings
(ISH) Pty Ltd.
Allocation of funds to
IFM and investment
management fees
paid.
Investment in ISH is a longstanding
strategic investment. The Board of IFI
has resolved to make no additional
investments.
Selection as investment manager was
recommended by investment
consultant.
SMI incurred
$942,470 in IFM
management fees in
2013/2014.
All contractual arrangements are
negotiated at an arms-length
arrangement.
Page 1
Fund III.
$6.2m in IFM
Australian
Private Equity
Fund IV.
 $2.6m in IFM
International
Private Equity
Fund II.
(value as at 30 June
2014)
 $5.5m private
equity
investment
(value as at 30
June 2014).
 $9.7m in ME
Bank Cash
Notice Account.
 $20.2 in ME
Bank Term
Deposits.
(value as at 30 June
2014).

ME Bank Ltd
Directly held
investment
Last updated: 26 November 2014
N/A
IFI is an equity holder in
ME Bank Ltd
The investment in ME Bank is a
longstanding strategic investment. The
Board of IFI has resolved to make no
additional investments.
Decision to place funds on deposit with
ME Bank was made on an arms-length
basis and having regard to the
competitive rates on offer.
Page 2
Directors and Responsible Persons (where applicable)
Cath Bowtell
Chairperson
(since 26
September
2014) /
Director
Director of Industry Fund
Services (IFS) Ltd.
Resigned as
Chairman 26
September
2014 and
Director 26
November
2014
Director of Industry Fund
Services (IFS) Ltd.
Refer to ‘Associates of RSE
Licensee’ above.
Disclosed and noted.
Declaration in Register of
Relevant Duties.
Disclosed and noted.
Declaration in Register of
Relevant Duties.
Director of IFS. IFI is a 100%
owned subsidiary of IFS.
AUSfund incurred Trustee
Fees of $2.4m payable to
IFS for the 2013/2014 year.
Services provided by IFS to
IFI are outlined in the
Trustee Office Managed
Services Agreement.
Director of Care Super
Director of IFS Insurance
Solutions Pty Ltd (IFSIS)
Last updated: 26 November 2014
Disclosed and noted.
Declaration in Register of
Relevant Duties.
AUSfund incurred Trustee
Fees of $2.4m payable to
IFS for the 2013/2014 year.
Services provided by IFS to
IFI are outlined in the
Trustee Office Managed
Services Agreement.
Director of ISH
Sandy Grant
Director of IFS. IFI is a 100%
owned subsidiary of IFS.
Care Super utilises AUSfund as its
Eligible Rollover Fund.
IFSIS acts as broker in respect of
indemnity insurance cover taken
out for the ISH group and
Disclosed and noted.
Declaration in Register of
Relevant Duties.
Disclosed and noted.
Declaration in Register of
Relevant Duties.
Page 3
Director of ISH
IFS Legal
Robbie Campo
Director
Director of Industry Fund
Services (IFS) Ltd.
includes indemnity for Directors
and Responsible Persons.
Refer to ‘Associates of RSE
Licensee’ above.
IFI from time to time engages IFS
Legal to provide legal advice. Mr
Grant’s son Benjamin James
Grant is an employee of IFS Legal.
No fees were paid to IFS Legal by
IFI in 2013/2014.
Director of IFS. IFI is a 100%
owned subsidiary of IFS.
Disclosed and noted.
Declaration in Register of
Relevant Duties.
Disclosed and noted.
Declaration in Register of
Relevant Duties.
Disclosed and noted.
Declaration in Register of
Relevant Duties.
AUSfund incurred Trustee
Fees of $2.4m payable to
IFS for the 2013/2014 year.
Paul Faure
Director
Services provided by IFS to
IFI are outlined in the
Trustee Office Managed
Services Agreement.
Director of Industry Fund
Services (IFS) Ltd.
Director of IFS. IFI is a 100%
owned subsidiary of IFS.
Disclosed and noted.
Declaration in Register of
Relevant Duties.
AUSfund incurred Trustee
Fees of $2.4m payable to
IFS for the 2013/2014 year.
Services provided by IFS to
IFI are outlined in the
Last updated: 26 November 2014
Page 4
Trustee Office Managed
Services Agreement.
Partner at Holding Redlich.
Michael Migro
Director
Director of Industry Fund
Services (IFS) Ltd.
IFI from time to time may engage
Holding Redlich to provide legal
advice.
No fees were paid to Holding
Redlich by IFI in 2013/2014.
Director of IFS. IFI is a 100%
owned subsidiary of IFS.
Disclosed and noted.
Declaration in Register of
Relevant Duties.
Disclosed and noted.
Declaration in Register of
Relevant Duties.
AUSfund incurred Trustee
Fees of $2.4m payable to
IFS for the 2013/2014 year.
Services provided by IFS to
IFI are outlined in the
Trustee Office Managed
Services Agreement.
Director of IFM Holdings
Pty. Ltd (IFM) and
subsidiaries
Director of IFS Insurance
Solutions Pty Ltd (IFSIS)
Director of ISH
Linda Rubinstein
Director
Last updated: 26 November 2014
Director of Industry Fund
Services (IFS) Ltd.
Refer to ‘Associates of RSE
Licensee’ above.
IFSIS acts as broker in respect of
indemnity insurance cover taken
out for the ISH group and
includes indemnity for Directors
and Responsible Persons.
Refer to ‘Associates of RSE
Licensee’ above.
Director of IFS. IFI is a 100%
owned subsidiary of IFS.
Disclosed and noted.
Declaration in Register of
Relevant Duties.
Disclosed and noted.
Declaration in Register of
Relevant Duties.
Disclosed and noted.
Declaration in Register of
Relevant Duties.
Disclosed and noted.
Declaration in Register of
Page 5
Relevant Duties.
AUSfund incurred Trustee
Fees of $2.4m payable to
IFS for the 2013/2014 year.
Services provided by IFS to
IFI are outlined in the
Trustee Office Managed
Services Agreement.
Holding Redlich – National
Pro-Bono Manager
Director of Superpartners
Pty Ltd
Andrew Steggall
Company
Secretary
Ned Meehan
Chief Financial
Last updated: 26 November 2014
Director of IFM Holdings
Pty. Ltd (IFM) and
subsidiaries
Director and Secretary of
Industry Funds
Management (Nominees 2)
Pty Ltd (IFMN2)
Director of Industry Funds
IFI from time to time may engage
Holding Redlich to provide legal
advice.
Disclosed and noted.
Declaration in Register of
Relevant Duties.
No fees were paid to Holding
Redlich by IFI in 2013/2014.
IFI engages Superpartners to
provide administration and
custodial services for AUSfund.
Disclosed and noted.
Declaration in Register of
Relevant Duties.
Administration fees and
associated services incurred and
payable to Superpartners for
2013/2014 were $11.7m.
Refer to ‘Associates of RSE
Licensee’ above.
IFMN2 is trustee of the Super
Loans Trust (SLT). AUSfund had
an investment in SLT of $1.5
million. The entire holding was
sold in September 2013.
IFMN2 is trustee of the Super
Disclosed and noted.
Declaration in Register of
Relevant Duties.
Disclosed and noted.
Declaration in Register of
Relevant Duties.
Disclosed and noted.
Page 6
Officer - IFS
David Vernon
Executive
General
Manager,
Products - IFS,
General
Manager,
Products SMI and IFI
Last updated: 26 November 2014
Management (Nominees 2)
Pty Ltd (IFMN2)
Loans Trust (SLT). AUSfund had
an investment in SLT of $1.5
million. The entire holding was
sold in September 2013.
Declaration in Register of
Relevant Duties.
No interests to declare
Page 7

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