Rest has become the latest superannuation fund to join diversity initiative Future IM/Pact.
In joining the initiative, the $70 billion profit-to-member fund was committing to building a more diverse, gender-balanced investment team.
Since launching in 2018, Future IM/Pact had provided over 350 women with investment experience through its mentoring circles, investment competition, intern and graduate placements and virtual intern program.
Rest chief investment officer, Andrew Lill, said the fund would be working to provide opportunities for young women who wanted careers in investment management.
“Rest represents more than one million women in our membership, and are dedicated to promoting greater gender equality. Our partnership with Future IM/Pact builds on our existing program of offering internships to women in actuarial studies, while also helping us source great female talent for our investment team.
“It is also consistent with Rest’s commitment to contribute to five of the UN Sustainable Development Goals, including gender equality”.
Rest would join other superannuation funds such as Australian Retirement Trust, Aware Super, Cbus, HESTA and UniSuper as a Future IM/Pact partner.
At the same time as Rest, fund manager Platinum Asset Management and private wealth manager LGT Crestone also partnered with the initiative.
Founder Yolanda Beattie said: “Widespread industry collaboration is essential for tackling the entrenched structural and cultural barriers that stop women from becoming professional investments. With 23 partners now working with us to address these issues, we’re better placed than ever to shift the dial on this issue”.
