POWERED BY MOMENTUM MEDIA
Christian super funds join hands
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.
Recommended for you
A major super fund has defended its use of private markets in a submission to ASIC, asserting that appropriate governance and information-sharing practices are present in both public and private markets.
A member body representing some prominent wealth managers is concerned super funds’ dominance is sidelining small companies in capital markets.
Earlier this month, several Australian superannuation funds fell victim to credential stuffing attacks, which saw a small number of members lose more than $500,000.
Small- to medium-sized funds have become collateral damage in an "imperfect" model for super industry levies, a financial institution has said.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
93.34 3 y p.a(%)
2
Global X GlobalX FANG+ ETF
36.96 3 y p.a(%)
3
GAM LSA Private Shares AU I
34.22 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.68 3 y p.a(%)
5
VanEck Video Gaming and eSports ETF (AU)
28.89 3 y p.a(%)
