Ausgrid

Blink and you'll miss it in the coverage of the Ausgrid sale today: IFM Investors and AustralianSuper, which have purchased the majority stake in the NSW poles-and-wires electricity company, are industry superannuation entities -- IFM is an infrastructure investment vehicle owned by industry funds, and AustralianSuper is an industry fund itself.

Normally whenever The Australian or the AFR mention industry super funds it's to note that they're "union-run" (actually they're jointly run by employers and unions, but whatever) and to suggest something there's something subtly inappropriate about their continued existence at the expense of bank-owned retail super funds. There was none of that today in the solitary mentions in both outlets that industry super had saved Mike Baird's bacon, his budget and, perhaps, his government.