TWUSUPER is a not-for-profit Industry SuperFund for the transport and logistics industry.
Our Board ensures TWUSUPER looks after the best interests of all members, and we have a skilled and experienced management team looking after the day-to-day operations of the Fund.
The Trustee executive team
Chief Executive Officer
Acting Chief Financial Officer
Chief Investment Officer
Chief Governance Officer
Executive Manager Strategy and Customer Experience
Executive Manager Stakeholders and Marketing
The Trustee has a documented process for evaluating the performance of the executive team. These evaluations are carried out by the Chief Executive Officer or, in the case of the evaluation of the Chief Executive Officer, by the Board Chairman. Performance evaluations of all members of the executive team were most recently carried out in late-2017.
The TWUSUPER Board is a representative board that includes both employer and employee representatives.
This board structure is recognised by peak super bodies such as the Australian Institute of Super Trustees (AIST) and the Industry Funds’ Forum as providing the best governance model for Australian Industry SuperFunds.
- an Independent Chairman
- four employee representatives, nominated by the Transport Workers’ Union of Australia (TWU)
- four employer representatives, nominated by the Australian Road Transport Industrial Organisation (ARTIO)
- up to six alternate directors, nominated by their respective representatives.
David Galbally AM QC
Timothy Dawson (Alternate)
Paul Ryan (Alternate)
Michael Kaine (Alternate)
Ian Smith (Alternate)
* Robin Phillips ceased as an Alternate Employer Director from 10 August 2017
* Dennis Sutton resigned as Employer Director on 23 July 2018.
* Michelle Harwood ceased as an Alternate Employer Director on 2 August 2018 and was appointed Director on the same day.
- Conflicts management policy
- Director remuneration
- Director qualifications and experience
- Rules of appointment
- Relevant duties register
- Relevant interests register
- Audit, Risk and Compliance
- Communications and Marketing
- Complaints and Appeals
- Operations and Remuneration
Board Attendance Records
The table below shows the board meetings attended by TWUSUPER Directors in the last 7 years.
Financial year 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18 No. of board meetings 6 6 6 6 7 6 6 Director Attendance Current Directors David Galbally AM QC 6 5 6 6 6 5 4 Tony Sheldon 2 3 4 5 6 4 5 Hugh McMaster1 6 6 6 6 7 5 5 Peter Biagini2 5 6 5 5 7 6 6 Peter Anderson3 N/A N/A N/A N/A 3 6 6 John Berger4 N/A N/A N/A N/A 1 6 5 Richard Olsen5 N/A N/A N/A N/A N/A 4 5 Dennis Sutton6 N/A N/A N/A N/A N/A 5 5 Gary Mahon7 N/A N/A N/A N/A N/A 4 4 Tim Dawson (Alternate)8 N/A N/A 1 6 6 5 5 Michael Kaine (Alternate) 6 5 3 6 7 4 3 Paul Ryan (Alternate)9 6 5 6 6 7 5 3 Ian Smith (Alternate)10 N/A N/A N/A N/A N/A 2 6 Michell Harwood (Alternate)19 N/A N/A N/A N/A N/A N/A 4 Former Directors Robin Phillips (Alternate)18 6 6 6 5 7 6 1 Rick Burton 4 Wayne Forno11 6 5 5 Jim McGivern 2 4 Phil Lovel AM12 6 6 5 6 3 Wayne Mader13 5 5 6 4 5 Ian King14 5 6 6 6 5 Peter Garske15 6 5 6 6 6 3 Ray Wyatt16 5 5 5 6 5 3 Michael Aird17 N/A N/A N/A 5 4
1 Alternate Director 07/08/2008 to 08/04/2011. Director since 08/04/2011.
2 Alternate Director 10/01/2011 to 26/06/2014. Director since 26/04/2014.
3 Commenced as Director on 03/12/2015.
4 Commenced as Director on 02/06/2016.
5 Commenced as Director on 22/09/2016.
6 Commenced as Director on 22/09/2016. Resigned as Director on 23/07/2018.
7 Attended 22/09/2016 Board meeting as an observer. Director since 01/12/2016.
8 Commenced as Alternate Director on 26/06/2014.
9 Alternate Director since 08/04/2011. Director 07/06/2007 to 08/04/2011.
10 Commenced as Alternate Director on 06/04/2017.
11 Alternate Director 11/06/2009 to 08/04/2011. Director from 08/04/2011 to 08/10/2014.
12 Resigned as Director on 23/11/2015.
13 Resigned as Director on 29/04/2016.
14 Resigned as Director on 24/06/2016.
15 Resigned as Director on 30/11/2016.
16 Resigned ad Director on 14/02/2017.
17 Commenced as Director on 09/10/2014. Resigned as director on 09/08/2016.
18 Resigned as director on 10/08/2017.
19 Alternate Director 07/12/2017 to 02/08/2018. Director since 02/08/2018.
Trustee service providers
The Trustee engages the following third-party providers in the management of TWUSUPER.
Australian Administrative Services
62 003 429 114
Custodian and investment
BNP Paribas Securities Services
87 149 440 291
External auditor and tax adviser
Ernst & Young
Mercer (Australia) Pty Ltd
Financial advice provider
Industry Fund Services Ltd
JANA Investment Advisers
See investment managers below
Sparke Helmore Lawyers
Group life and income protection insurer
TAL Life Limited (was CommInsure until 27 May 2017)
Trustee liability insurer
IFS Insurance Solutions Pty Ltd
TWUSUPER engages investment managers to invest members’ money across the different asset classes.
We closely monitor the investment performance of each investment manager and from time to time new investment managers are appointed and others terminated.
TWUSUPER uses JANA Investment Advisers to help set the investment strategy, select investment managers and monitor performance.
Investment managers at 4 April 2018:
- Adam Smith Asset Management
- AIF Capital
- AMP Capital Investors
- AQR Capital Management
- Aurum Funds Management
- Charter Hall
- Colonial First State Global Asset Management
- Cooper Investors
- Discovery Asset Management
- DNR Capital
- Eureka Funds Management
- Franklin Templeton Investments
- HarbourVest Partners LLC
- IFM Investors
- Industry Super Property Trust
- Infrastructure Capital Group
- Insight Investment
- Intermede Investment Partners
- Janus Henderson Investors
- Lexington Partners
- LGT Capital Partners
- Loomis Sayles
- ME Bank Pty Ltd
- MFS Investment Management
- Neuberger Berman
- Nikko Asset Management
- Northcape Capital
- Orbis Investment Management
- Pantheon Ventures Ltd
- Perpetual Investment Management
- Siguler Guff & Company
- Tactical Global Management
- Wellington Management Company