Christian super funds announce merger
Boutique ethical investment fund Christian Super has announced it will merge with super provider for churches Australian Christian Super.
The merged funds will represent around 25,000 members, many of whom are ministers and full time Christian workers.
Christian Super has over 21,000 members across churches, not for profit organisations, Christian ministries and businesses.
“This decision to merge with Christian Super has occurred after many months of discussion,” director of Australian Christian Super Scott Haslem said.
“It makes sense given the strong values alignment particularly through ethical investment.”
Both the funds exercised negative screening in their ethical investment of companies involved in gambling, tobacco, gaming, sex industry, pornography and armaments.
They also screened out companies in violation of human rights, the environment and occupational health and safety.
The $100 million Australian Christian Super will merge with Christian Super, which has $850 million funds under management, on 1 October this year.
Recommended for you
With just 30 per cent of Australians knowing their superannuation balance to the nearest $1,000, Findex has emphasised the role of financial advice in addressing the critical super knowledge gap.
Underestimating the cost of insurance by almost $75,000 in a Statement of Advice is among multiple reasons that a relevant provider has faced action from the FSCP.
Financial Services Council chief executive, Blake Briggs, is urging Minister for Financial Services, Stephen Jones, to take advantage of the QAR opportunity to reduce regulatory duplication and ensure advice is affordable.
Former chair of the House of Representatives’ Standing Economics Committee, Tim Wilson, is planning a return to politics after losing his seat in the 2022 federal election.