CFS launches sustainable growth fund
Colonial First State (CFS) has launched a sustainable growth fund, Thrive+ , to help consumers invest in a sustainable way.
This sought to make it easier for those seeking to generate long-term performance to align that with their environmental, social and governance (ESG) objectives, with CFS research finding almost eight million Australians were considering sustainable investment options within the next two years.
The actively-managed fund was operated in partnership with several asset managers including Melior Investment Management, Impax Asset Management and Pendal Group and sought to avoid areas of concern including weapons, gambling, alcohol and predatory lending.
It would also seek out investments in areas such as climate change solutions, resource efficiency and sustainable communities.
The firm’s research also found 87% said they found sustainable investments appealing but 50% lacked the knowledge and 41% were concerned about performance. In line with this, CFS had developed an online calculator to estimate the social and environmental benefit of an individual’s investments in line with UN Sustainable Development Goals.
Kelly Power, chief executive of Colonial First State Superannuation, said: “The fund has been designed to give Australians greater choice in where their superannuation is invested. By choosing to invest in this product, investors in the fund can look to use their personal investment for the benefit of the planet and the wider community.
“Australians also want to be confident that switching to a sustainable superannuation option can deliver competitive long-term returns at the same time as having positive social and environmental benefits.”
The fund’s objective was to outperform the option’s composite benchmark over rolling three-year periods. The benchmark was comprised of leading indices for international shares, fixed income and Australian equities.
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Laura Dew
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