Australian Unity has launched its Green Bond fund, backed by the Clean Energy Finance Corporation and clients of Crestone Wealth Management.
Managed by Altius Asset Management, Australian Unity’s in-house cash and fixed interest team, the fund would invest in a mix of green, social and sustainable fixed interest securities with the purpose of helping to lower carbon emissions.
The firm said it was seeing increased interest in responsible and sustainable investments.
Bill Bovingdon, chief investment officer at Altius, said last summer’s bushfires had brought climate change to the forefront of people’s minds.
“A devastating bushfire season has brought the climate crisis conversation to the fore as investors seek ways of putting their money to work with investments that can make a positive difference,” he said.
“We believe there is a growing interest in what is already a sizeable market. A number of large Australian super funds, implemented asset consultants and general insurers have all expressed interest in green debt markets.”
CEFC chief executive Ian Learmonth said: “There is strong demand for responsible investment products among Australian investors. We are at the cusp of a long-term trend toward sustainable finance and market leaders such as Australian Unity will be a key part of this transition.
“Investment products that provide market returns as well as positive environmental outcomes offer an attractive way for institutional and wholesale investor capital to support Australia’s transition to a low emissions economy.”
Future Group is set to take on nearly $1 billion in funds under management (FUM) and welcome more than 100,000 new members following two significant successor fund transfers.
Insignia’s Master Trust business suffered a 1.9 per cent dip in FUA in the third quarter, amid total net outflows of $1.8 billion.
While the Liberal senator has accused super funds of locking everyday Australians out of the housing market, industry advocates say the Coalition’s policy would only push home ownership further out of reach.
Australia’s largest superannuation fund has confirmed all members who had funds stolen during the recent cyber fraud crime have been reimbursed.