HESTA has pledged to support equitable access to COVID-19 vaccines globally and has committed to investment approaches that will support the push for greater vaccine access.
The industry superannuation fund said uneven vaccination rates posed a risk to global health and economic activity in 2021, leading it to sign an investor statement pushing for urgent G7 and G20 governments to take action.
HESTA chief executive, Debby Blakey, said a successful and equitable global distribution of vaccines would have an impact on the pact of economic recovery, and therefore HESTA members’ investments.
HESTA pointed to a study by the International Chamber of Commerce Research Foundation that found the global economy stood to lose as much as US$9.2 trillion ($11.6 trillion) if the COVID-19 vaccines are not widely available in developing countries.
“Ensuring developing economies have equal access to COVID-19 vaccines, medicines and tests will reduce the impact of COVID-19 worldwide, and help foster a fairer and more sustainable global recovery,” Blakey said.
“We’re keen to work with other global investors to explore ways we can encourage further investment that will help fund vaccine distribution.”
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
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