POWERED BY MOMENTUM MEDIA
REST joins anti-slavery coalition
Industry superannuation fund REST has joined the Investors Against Slavery and Trafficking (IAST) APAC coalition in an effort to strengthen its commitment to responsible investing.
The IAST urges companies to pursue action to combat modern slavery, human trafficking and labour exploitation in its supply chains.
REST and 32 other institutional investors and super funds in Asia Pacific signed up to the coalition.
REST chief investment officer, Andrew Lill, said: “Organisations of our scale and reach must proactively take steps that can reduce modern slavery and trafficking. We believe that being a responsible investor is critical to providing long-term returns to our members. What’s more, our members have told us they expect us to invest responsibly.
“Addressing potential modern slavery exposures in your investments, operations and supply chain, and engaging with businesses to ensure they’re also taking similar action, is a core component of being a responsible investor.”
The fund, which had $60 billion in assets, had also developed a modern slavery action plan and supplier code of conduct, and would be publishing efforts undertaken by the fund in this regard in the 2019/20 financial year.
This included reviewing potential exposures within the REST investment portfolio including any risks associated with investment managers.
AUTHOR
Laura Dew
Laura Dew is editor at Super Review. Prior to joining SR, she spent five years working at Investment Week in the UK covering asset and wealth management.
Recommended for you
In its pre-election policy document, the FSC highlighted 15 priority reforms, with superannuation featuring prominently, urging both major parties to avoid changing super taxes without a comprehensive tax review.
The Grattan Institute has labelled the Australian super system as “too complicated” and has proposed a three-pronged reform strategy to simplify superannuation in retirement.
Super funds delivered a strong 2024 result, with the median growth fund returning 11.4 per cent, driven by strong international sharemarket performance, new data has shown.
Australian Ethical has seen FUM growth of 27 per cent in the financial year to date.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
36.43 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
35.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.72 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
27.64 3 y p.a(%)
