FRIDAY 05 SEPTEMBER, 2014 |
Future Super - The Fossil Fuel Free Super Fund
It may be a solar supporter's and green investor's dream come true - Australia's first superannuation
fund free of fossil-fuel investments.
Ethical investing can be a minefield and given the complexity, it can be one many people
understandably choose not try and navigate when it comes to their
may change that. It
will not invest in fossil fuel companies or companies that provide services or finance to significant fossil fuel projects.
But the no-invest list doesn't end there - also excluded are investments
involved with tobacco, gambling, cruelty to animals, animal exports, slave
labour, old growth forest logging, nuclear and uranium projects to name a few.
Instead it will focus its investments on renewable energy, energy efficiency, recycling, resource conservation, green buildings, education,
efficient transport, community/local/social enterprise - and the list goes on
Founder Simon Sheikh has obviously been very busy since he left GetUp!, the now
677,000 member-strong grass roots activist group. He's gathered an impressive
team together for Future Super that includes Jemma Morton Green; who was previously
with J.P. Morgan, James Thier; a founder of Australian Ethical Investment and Superannuation
and Adam Verwey; who is a Director for the Australian Centre for Corporate Responsibility.
While joining and rolling over to Future Super can be carried out online, people interested in
joining should first seek professional advice; as with any investment. It should be noted that Future Super classifies its risk level at medium to high - meaning there may be a negative annual return 3 to less than 4 times out of 20 years.
It says this is "broadly an appropriate level of risk for the widest range
Its published fees are 1.9% per annum and a $94 annual member fee.
The fund has been launched with the support of Bendigo Bank and Investment
Manager, Grosvenor Pirie, which has more than 30 years of experience in the
financial services sector.
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