“We understand that some investors want products that allow them to achieve their investment objectives while also investing in line with their values. We are pleased to be offering ESG equities and fixed income funds that meet this need while maintaining the hallmarks of Vanguard funds, low cost and broad diversification,” he said. The new suite of funds adds to the existing ESG offering of Vanguard Australia, the Vanguard International Shares Select Exclusions Index Fund that was launched in 2016. “We have been offering screened ESG products internationally for almost 20 years and are excited to be able to provide more choice for Australian investors while leveraging our global scale and investment management expertise,” Mr Reedman said.

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NAB Asset Servicing and BNP Paribas Securities Services retain their second and third places, with $553.3 billion and $485 billion in total assets under custody, respectively. While the total amount of custody has grown strongly (see chart, below) the amount of overseas client investment in Australia (assets held in sub-custody) also grew by 4.4 per cent during the first half of 2018 to $1.54 trillion. The mix of total assets in international markets has increased from approximately 28 per cent to 34 per cent since June 2014, said ACSA.

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The mental health organisation’s chief executive Margo Lydon said SuperFriend aimed to reduce suicide and mental illness in Australian workers, and that the funding would go towards this purpose. “Contact centre workers are often perceived as vulnerable and at risk of poor mental health due to the frontline nature of their jobs,” said SuperFriend chief executive Margo Lydon. “How they engage and work with customers not only impacts the customer experience, but also their own mental health, safety and wellbeing.

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The healthy result is largely down to Australian Ethical’s superannuation membership growth, which was up 17 per cent to 41,518 to 30 June 2018 – much of which is attributable to the firm’s successful social media strategy. However, the firm also saw its operating expenses rise in line with revenues. Operating expenses were up 28 per cent year-on-year to $28.6 million. Commenting on the result, Australian Ethical chief financial officer Mark Simons said the increased expenses reflected increased headcount over the past two years along with a “strategic investment in marketing”.

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Mercer Pacific chief investment officer Kylie Willment said there has been a “significant focus” on the structure of the Pacific Portfolio Management team. “Campbell’s outstanding leadership skills and proven track record will enable Mercer to efficiently implement our investment decisions, further cementing our ability to maximise the outcomes for our investors and clients,” Ms Willment said. “Phil [Graham] is highly respected by colleagues and peers and will be greatly missed. We are extremely proud of all that he has achieved in his time at Mercer and wish him well,” she said.