Investing Superannuation for the public good
As of December 2017, the Australian Prudential Regulation Authority (APRA) reports total superannuation assets of $2.6 trillion, one of the largest retirement savings pools in the world. The largest category of investments are shares, followed by fixed interest, property and then infrastructure.
Over the past few decades, there has been a significant shift in attitudes towards investments and superannuation. Ethical investing has become part of the mainstream and increasingly, members of super funds are determined to make sure that their super funds are invested in ethical, social and responsible companies and funds. Trustees have increasingly made more explicit commitments to monitoring the risks posed by ESG issues and making positive impacts in their choice of investments. These fulfil their fiduciary obligations to seek the best financial interests of their beneficiaries and are by no means restricted by the Sole Purpose Test.
