POWERED BY MOMENTUM MEDIA
Super funds want higher ethical standards
Australian Ethical, AustralianSuper, First State Super, Kinetic Super, Sunsuper and VicSuper have become signatories to CFA Societies Australia’s open letter that asked managers to adhere to CFA Institute’s Asset Manager Code.
The Code outlined the ethical and professional responsibilities of those who managed assets on behalf of clients, including superannuation members, through their superannuation funds, specifically that they are responsible:
- To act in a professional and ethical manger;
- To act for the benefit of clients;
- To act with independence and objectivity;
- To act with skill, competence and diligence;
- To communicate with clients in a timely and accurate manner; and
- To uphold the rules governing capital markets.
By becoming signatory to the letter and adopting the Code for their organisations, asset managers have demonstrated their united commitment to ethical behaviour and the protection of investors’ interests.
Chair of CFA Societies Australia Advocacy Council, Stephen Dunne, said a united show of support for the principles would spur managers to consider compliance with the code.
“The letter is especially relevant in Australia with its unique and mandated superannuation system, which makes every single Australian an investor and creates an even greater moral imperative for asset managers to adopt the code,” he said.
Recommended for you
Governor Michele Bullock took a more hawkish stance on Tuesday, raising concerns over Donald Trump’s escalating tariffs, which sent economists in different directions with their predictions.
Equity Trustees has announced the appointment of Jocelyn Furlan to the Superannuation Limited (ETSL) and HTFS Nominees Pty Ltd (HTFS) boards, which have oversight of one of the companies’ fastest growing trustee services.
Following growing criticism of the superannuation industry’s influence on capital markets and its increasing exposure to private assets, as well as regulators’ concerns about potential risks to financial stability, ASFA has released new research pushing back on these narratives.
A US-based infrastructure specialist has welcomed the $93 billion fund as a cornerstone investor.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Global X GlobalX FANG+ ETF
33.51 3 y p.a(%)
2
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.62 3 y p.a(%)
4
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
5
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
