Equipsuper has joined the Australian Council of Superannuation Investors (ACSI), bringing its number of members to 39.
Equip chief executive, Nicholas Vamvakis, said that the membership would provide the funds with broader information and perspectives on investment sustainability.
“We are impressed that ACSI has also shown consistent leadership in active engagement with companies to advocate for sustainable governance and management practices that will benefit fund members,” he said.
ACSI chief executive, Louise Davidson, welcomed Equipsuper’s move, saying that the Council’s growth would improve its ability to achieve improvements in environmental, social and governance practices as collective action had proven to be “extremely effective” at holding companies to account.
The peak industry body has welcomed new legislation reforming super advertising and onboarding, stating the changes built on recent Payday Super measures.
Funds are facing criticism after a new analysis found $33 billion is invested by super funds in companies expanding coal, oil and gas globally.
There is “no chance” of a cut by the Reserve Bank of Australia next week, according to UniSuper’s head of fixed interest David Colosimo.
State Super has begun its partnership with Frontier Advisors, transferring investment staff and taking a major equity stake to support long-term capability.