Australian funds lead on PRI

16 July 2009
| By Mike |

Non-corporate pension funds are moving faster towards the implementation of responsible investment principles according to research conducted as part of the United Nations Principles of Responsible Investment (PRI) initiative.

The research, released today, looked at around 300 global pension funds and fund managers that are signatories to the PRI initiative and found that there had been a 25 per cent increase in the number of asset owners such as pension funds putting responsible investment elements into contracts for the external managers of their investments.

The research covered 56 respondents within Australia and New Zealand and noted that Australia stood out as the country with the largest number of PRI signatories relative to the size of its market.

It said asset owners from Australia and New Zealand scored particularly highly with respect to active ownership and were second only to the United Kingdom in the number reaching the top level of implementation in a benchmark of peers.

The research said Australia and New Zealand had also scored highly in terms of governance, policy and strategy for responsible investment.

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