super funds and stock lending

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    Super funds hold member's funds in trust for the member's ultimate retirement. The funds supposedly hold the shares in a secure manner to maximise the ultimate return to the beneficial owners. How then do the funds justify lending shares to others (eg hedge funds) who then sell those shares to drive down the market value and make a profit on an artificially depressed market. How do the the Super funds justify this (ethically or legally) when the nett effect is to depress the value of the super funds shares and potentially put the actual shares themselves 'at risk' as with the latest debacles over who owns shares traded through Opes?
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