Funds Management News

Funds Management News

QSuper, Sunsuper members protest coal exposure

Posted by Anton Murray Consulting on . Posted in Funds Management News

InvestorDaily

A group of Sunsuper and QSuper members has urged the funds to dump thermal coal and to disclose more information around investments, as the pair are on their way to merge. QSuper and Sunsuper recently signed an agreement for more detailed analysis and due diligence, taking one step closer towards merging and forming a $182 billion giant. But a total of 65 Sunsuper members and 141 consumers with QSuper have penned a letter to the funds, calling on QSuper chief of member experience Jason Murray and Sunsuper chief member officer Steven Travis to disclose:

– A complete list of the funds’ holdings.

– Emissions reduction strategies for the funds’ portfolios.

– If the funds have conducted portfolio-wide scenario analysis on climate change analysis.

– The engagement processes each fund undertakes with investee companies to reduce their carbon exposures.

The campaign is backed by the Australia Conservation Foundation, with economic analyst and campaigner May House, who is also a Sunsuper member, commenting the funds are well behind their industry peers on managing climate risks.

The rest of this article can be found at investordaily.com.au.

Bennelong rolls out senior appointment

Posted by Anton Murray Consulting on . Posted in Funds Management News

InvestorDaily

Bennelong Funds Management has appointed a new chief client strategy officer with “in-depth knowledge of funds management and financial policy”. Amara Haqqani will step into the newly created role of chief client strategy officer at Bennelong. Ms Haqqani will be based in Sydney and report to chief executive Craig Bingham. “The traditional client profile is changing, and we’re working in a more nuanced and complex environment. It’s critical that we adapt and build solutions to meet those changing clients’ needs to ensure we remain relevant to our clients into the future,” Mr Bingham said.

“Amara’s extensive experience and passion for customer-centricity is the perfect fit for Bennelong in our ongoing commitment to put our clients at the heart of everything we do.” Ms Haqqani was most recently a director for consulting firm Milliman, prior to which she held senior policy and compliance roles at the Financial Services Council, Challenger Limited and RBC Global Asset Management. She has also held roles at Equity Trustees, Orchard and Aviva.

Super funds in rapid transition to ESG

Posted by Anton Murray Consulting on . Posted in Funds Management News

InvestorDaily

Investment managers are being asked by major super funds to work towards making their portfolios carbon-neutral by as soon as 30 June this year, according to a boutique fund manager. Speaking at a recent Pritchitt Bland Communications media lunch, Maple-Brown Abbott chief executive and managing director Sophia Rahmani said the group had been directed by a major super fund client to prepare their portfolio for carbon neutrality by the end of financial year. “One of our super clients, which I know has happened to lots of super funds, has said by 30 June, we need a plan on how we’re going to transition over the next three years to being carbon neutral,” Ms Rahmani said.

“They’ve said let’s work through that because we don’t quite know what our board wants us to do. But just like that it’s going to turn into an ESG portfolio, and that’s a board directive from that super fund.” 4D Infrastructure chief investment officer Sarah Shaw agreed that many super funds were rapidly moving towards carbon neutrality across their entire portfolio if they had not done so already. “You can have stocks that are carbon emitters but they have to be offset by other stocks that are taking carbon out across the portfolio,” Ms Shaw said.

The rest of this article can be found at investordaily.com.au.

Impax secures Cbus $240m climate equity mandate

Posted by Anton Murray Consulting on . Posted in Funds Management News

InvestorDaily

James Crawford, head of equity portfolio construction at Cbus commented all portfolio companies within the Impax Climate Strategy are aligned with the Paris Agreement, “positioned to provide significant net CO2 savings”. Jon Forster, senior portfolio manager at Impax added asset owners are “increasingly prioritising climate change mitigation and considering climate risk in their investment decisions”. “The Impax Climate Strategy responds to that need, but also to our belief that there are considerable investable opportunities as society adapts to the consequences of climate change,” Mr Forster said.

The rest of this article can be found at investordaily.com.au.

First Super names fresh board members

Posted by Anton Murray Consulting on . Posted in Funds Management News

InvestorDaily

“Anthony’s depth of knowledge and understanding of the pulp and paper industry will be a significant advantage to the board and to our membership,” First Super chief executive Bill Watson said. “He has a vast working knowledge of the industry and will no doubt assist us in making decisions that reflect members’ real experiences and needs.” Also joining the First Super board is compliance officer for the CFMMEU Casey Thompson. She will be observing the board and committees as an associate member director.

The rest of this article can be found at investordaily.com.au.

Super payouts surge by 39.4%

Posted by Anton Murray Consulting on . Posted in Funds Management News

InvestorDaily

The dwindling payments from the early release scheme saw benefit payments drop to $21.3 billion in the December quarter, in contrast to $33.9 billion in the three months before. But benefit payments for the 2020 year were $113.3 billion, a 39.4 per cent surge on the year before, including around $36 billion being withdrawn under the early release scheme. Total contributions increased by 1.9 per cent during the year, although annual member contributions of $22.9 billion were 6.4 per cent lower than the previous year. Employer contributions had still increased by 4.1 per cent.

The rest of this article can be found at investordaily.com.au.

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