The Christian Super transfer added about 28,000 super fund members to take the total number of super fund members and “investors”,as Australian Ethical also has managed funds,to more than 127,000.
The increased scale allowed Australian Ethical,the country’s largest “pure-play” ethical investor,to pass on fee reductions to all superannuation members,making its super offerings even more competitive.
Ross Piper,chief executive of superannuation at Australian Ethical,says the increasing prevalence of “greenwashing”,where green claims cannot be substantiated,highlights the importance of having a strong in-house research capability.
“You do have a whole raft of disclosures and marketing spin that companies put out there in terms of green or social credentials ... but you have to be able to look beyond what is[written] on the box,” Piper says.
Regulators in Australia and overseas are cracking down on investment managers and companies who engage in greenwashing.
The Australian Securities and Investments Commissions has begun court proceedings against a couple of investment managers over allegations they have engaged in greenwashing.
“We do everything we can to ensure that what we are saying to our consumers is clear and accessible,” says Piper,also chair of the Responsible Investment Association Australasia.