Eight superannuation funds have been identified as ‘responsible investment leaders’ by a leading organisation.
According to the latest benchmark report from the Responsible Investment Institute of Australasia (RIAA), responsible investment leaders were those which scored 15 out of 20 on the RIAA’s scorecard.
This included commitment to responsible investing, enhancing risk management through explicit and systematic consideration of environmental, social and governance (ESG) factors, being strong stewards for more resilient and sustainable assets and allocating capital to benefit shareholders.
Currently, around 27% (54 firms) of Australia’s investment managers were responsible investment leaders.
In the super space, the most responsible super funds were:
The report highlighted there had been numerous actions in the super space to help responsible investments, which included:
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
While some superannuation funds have gone down the route of internalisation, others say they favour ‘smart partnering’ with external managers for diversification appeal.
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