Christian Super has announced that as the first superannuation fund in Australia it will offer an ethically-screened index shares investment option.
The new index, the Ethical Index Shares, would comprise of 50 per cent Australian shares and 50 per cent international shares, with an annual investment fee of 0.30 per cent and indirect cost ratio of 0.08 per cent.
Also, Christian Super announced the launch of its new Ethical Growth Plus investment option, with an 84 per cent allocation to growth assets, with an investment objective of 3.5 per cent above inflation over a 10-year period.
Additionally, 12 per cent of the assets in this option would be allocated to impact investments.
“This new investment option provides low-fee equity exposure while continuing to incorporate our signature ethical screens,” Christian Super’s chief executive, Ross Piper, said.
“We’re really pleased that we’ve been able to respond top feedback from financial advisers who have values-aligned clients looking for this kind of option from their superannuation fund.”
The research house has offered a silver lining after super fund returns saw the end of a five-month streak last month.
A survey of almost 6,000 fund members has identified weakening retirement confidence, particularly among those under 55 years of age, signalling an opportunity for super funds to better engage with members on their retirement journey.
The funds have confirmed the signing of a successor fund transfer deed, moving closer to creating a new $29 billion entity.
A number of measures, including super on Paid Parental Leave, funding to recover unpaid super, and frameworks to encourage investment in the energy transition, have been welcomed by the superannuation industry.
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