VicSuper turns socially responsible investment option into socially conscious.
The Victorian-based fund said it had launched the option in response to extensive member and employer research, which revealed that 87 per cent of those surveyed believed socially responsible investing was important.
The launch of the option is consistent with VicSuper having been amongst the first superannuation funds to offer a socially responsible option when it launched its Equity Growth Sustainability option in 2001 which was later evolved into the Socially Conscious investment option.
Commenting on the move, VicSuper chief investment officer, Andrew Howard said the fund had offered a responsible investment option for years and believed it was important to offer choice to its members.
“We’ve built Socially Conscious so that it has competitive investment fees, and shifted the asset allocation to a medium risk profile to open up access to more of our members,” he said. “I’m happy to report the number of members and the value of funds under management in Socially Conscious is already growing.”