AMP Capital has announced a number of updates to its ethical superannuation fund, including a new fund name, AMP Capital Ethical Leaders, as well as the launch of a youth advisory committee.
The change of the name was expected to reflect the fund’s focus on responsible investment driven by the growing demand from investors, the firm said.
Additionally, the fund would also enhance its fossil fuels investment screen, reducing the revenue companies could make from a number of fossil fuels. This included mining thermal coal and brown coal power generation from 20 per cent to 10 percent and the fund said it would continue to exclude all companies that make a ‘material amount of money’ from the most carbon-intensive fossil fuels.
“The updates we’ve announced today are reflective of the increasing number of investors that care about what they’re invested in, which industries they’re supporting, and the impact – positive or negative – these investments have on the world,” AMP Capital Ethical Leaders’ portfolio manager, Kristen Le Mesurier, said.
“The change to Ethical Leaders better reflects the fund’s long-standing focus on providing transparency and ethically minded investments clients are looking for.
“We firmly believe in the importance of transparency, which is why we have a well-established investment approach that invests ethically across all asset classes, not just equities, and discloses every investment held to the public,”
AMP Capital had more than AU$2.8 billion in funds invested across seven ethical and ESG strategies as at 1 July 2019.