Retail fund is the one you get from AMP, CBA and many other institutions...Yung Industry fund yung usually ginagamit ng employers at specialised groups.
Mas mura yung Industry kasi discounted rates siya. As far as managing it is concerned, mas mainam kung may dedicated financial adviser kayo na magbabantay niyan. If you want to do this on your own, you will need to immerse yourself with the ATO rules; stock market; bond market --and not all of us have the time for that hehe.
So our general advice is to basically, set it and forget it...lalo na kung 20+ years till retirement pa kayo...Any negative fluctuation in the market will be smoothen out as time passes by 🙂