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LGS boosts FUM by $1billion in 11 months
Local Government Super (LGS) has accrued $11 billion funds under management (FUM), just 11 months after it hit $10 billion last April, suggesting a growing appetite amongst Australians for long-term sustainable investment.
LGS chair, Bruce Miller, said that the performance of the fund showed that sustainably investing has clear commercial benefits.
“The strong performance of the fund across various asset classes demonstrates that responsible, sustainable investment makes real commercial sense,” he said.
“The market is quickly catching up to the fact that long-term growth sectors that support positive social or environmental change are the same sectors that will ultimately deliver lasting and reliable returns – a truly win-win scenario.”
LGS held investments in Australian and international shares, property, infrastructure, private equity, fixed interest and absolute return asset classes.
The fund said that over the past year, its in-house property fund, international shares and private equity in particular had positively contributed to its growing FUM.
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