 Retail funds distribute profits to shareholders or investors , ie., the trustee of the fund, while industrial funds return profits to members.From 1 July 2005, choice of fund rules came into effect that gave Australian employees (with some exceptions) the option to choose the fund into which their employers paid their superannuation contributions.However, in practice, most workers (over 75%) remained with their employer’s default fund, which is more often than not an industry superannuation fund.