Boutique ethical investment fund Christian Super has announced it will merge with super provider for churches Australian Christian Super.
The $100 million Australian Christian Super will merge with Christian Super, which has $850 million funds under management, on 1 October this year.
The merged funds will represent around 25,000 members, many of whom are ministers and full time Christian workers.
Christian Super has over 21,000 members across churches, not for profit organisations, Christian ministries and businesses.
“This decision to merge with Christian Super has occurred after many months of discussion,” director of Australian Christian Super Scott Haslem said.
“It makes sense given the strong values alignment particularly through ethical investment.”
Both the funds exercised negative screening in their ethical investment of companies involved in gambling, tobacco, gaming, sex industry, pornography and armaments.
They also screened out companies in violation of human rights, the environment and occupational health and safety.
The merger announcement comes at the heels of Vision Super announcing it is merging Vision Super Fund with Local Authorities Super Fund.
Local authority and water industry employees now fall under the one umbrella following the merger.
BlackRock boss Larry Fink praised Australia’s superannuation system in his annual chairman’s letter.
The prudential regulator has announced it will publish new expenditure data of superannuation funds, providing details on expenses like advice, director remuneration, and payments to unions.
Affirming the UK’s growing attractiveness as an investment destination, a number of Australia’s largest investors recently joined the UK Foreign Secretary for an exclusive briefing in Canberra to discuss further opportunities for trade and growth.
The specialist superannuation law advisory practice is set to wind up, with managing partner Jonathan Steffanoni planning to bring a new offering to market.
Add new comment