‘Enormous room for conflict of interest’ in Future Super: Wilson Lachlan Maddock 03 February 2021
Ethical retail fund Future Super has defended its investments in a number of passive products amid accusations that consumers “are being misled”.
Fronting the standing committee on economics, ethical retail fund Future Super copped a bipartisan savaging as it tried to defend the fact that 63 per cent of the fund was allocated to two BetaShares ETFs despite marketing itself as an impact investor.
“We are in effect active managers of those ETFs by way of continuously assessing the underlying assets that are a part of those ETFs. They have to continuously meet our screen. So that means it’s not a passive investment, it’s an active investment,” said Future Super special adviser Fahmi Hosain.
Australian Model and Environmentalist Laura Wells Talks Ocean Conservation and Great Reef Census
You can help protect the Great Barrier Reef for generations to come.
Why Global Citizens Should Care
The Great Barrier Reef is the same size as Italy, which makes monitoring the reef’s health extremely difficult. Warming seas and mass coral bleachings continue to threaten its health, but researchers only regularly monitor less than 10% of the reef, and much of the area has never before been surveyed. As the impacts of climate change continue to intensify, up-to-date information on the entire reef is critical to ensure resources are appropriately targeted, and the reef is protected. Join Global Citizen and take action to protect the environment here.