Australian Ethical, AustralianSuper, First State Super, Kinetic Super, Sunsuper and VicSuper have become signatories to CFA Societies Australia’s open letter that asked managers to adhere to CFA Institute’s Asset Manager Code.
The Code outlined the ethical and professional responsibilities of those who managed assets on behalf of clients, including superannuation members, through their superannuation funds, specifically that they are responsible:
By becoming signatory to the letter and adopting the Code for their organisations, asset managers have demonstrated their united commitment to ethical behaviour and the protection of investors’ interests.
Chair of CFA Societies Australia Advocacy Council, Stephen Dunne, said a united show of support for the principles would spur managers to consider compliance with the code.
“The letter is especially relevant in Australia with its unique and mandated superannuation system, which makes every single Australian an investor and creates an even greater moral imperative for asset managers to adopt the code,” he said.
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.
Add new comment