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Industry SuperFunds are a type of superannuation fund in Australia that are run to benefit members rather than to generate profits for shareholders. These funds are established and run by industry groups or unions and are designed to provide retirement benefits to employees within a specific industry. Industry SuperFunds are known for their low fees, strong long-term investment returns, and a focus on providing competitive insurance cover for members. They are regulated by the Australian Prudential Regulation Authority (APRA) and are governed by trustees who are required to act in the best interests of members. Industry SuperFunds are a popular choice for many Australians seeking to grow their retirement savings through a fund that prioritizes their financial well-being.