Maritime Super chairman Paddy Crumlin has urged members of the maritime union not to abandon the sector’s embattled industry fund after it failed the prudential regulator’s new performance test.
Mr Crumlin’s appeal follows a warning from the Australian Securities and Investments Commission to underperforming super funds against sending letters to their members misrepresenting their performance.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
