Australian Ethical reports record net flows
Investment and superannuation provider, Australian Ethical has announced a surge in membership numbers and a record quarter of net flows, which totalled $139.9 million at the end of June.
At the same time, Australian Ethical’s superannuation membership increased to 35,352 which represented a 34.2 per cent growth from 2016.
Funds under management (FUM) went up by 8.7 per cent to $2,145.4 million for the same period, counting year-on-year.
According to The Responsible Investment Benchmark Report 2017, published by the Responsible Investment Association Australasia (RIAA), the size of the core responsible investment market in Australia increased by 26 per cent in 2016.
Australian Ethical’s managing director, Phil Vernon, said: “There is no doubt that we are entering an era of values and value – where values matter to people as much as value when investing for their future.”
Earlier in July, the company announced it had received an inflow of $128 million from Australian Catholic superannuation and Retirement Fund into its balanced fund.
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