Who is primarily responsible for running Superannuation funds?

The primary responsibility for running Superannuation funds falls on trustees. Trustees are the individuals or entities tasked with managing the fund and are responsible for making decisions that affect the investment and financial health of the Superannuation fund. They have a fiduciary duty to act in the best interests of the members and beneficiaries, ensuring compliance with legal and regulatory requirements, as well as overseeing fund governance.

Trustees are responsible for key functions such as formulating the investment strategy, selecting investment options, monitoring the fund's performance, and ensuring that all operational aspects align with the interests and needs of fund members. This role requires a deep understanding of financial markets, regulations, and the obligations to beneficiaries, which is why trustees are integral to the functionality and success of Superannuation funds.