AMP Capital has announced a series of updates to its ethical superannuation funds including a new fund name – AMP Capital Ethical Leaders – enhanced investment screens and the launch of an industry-first youth advisory committee.
Previously known as the AMP Capital Responsible Investments Leaders funds, the change to AMP Capital Ethical Leaders reflects the fund’s increasing focus on ethical investment considerations and the growing demand from investors for ethical investment options in superannuation.
AMP Capital Ethical Leaders Portfolio Manager, Kristen Le Mesurier commented: “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.
“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,” she said.
As part of the updates, the AMP Capital Ethical Leaders fund has enhanced its fossil fuels investment screen, reducing the revenue companies can make from a number of fossil fuels including mining thermal coal and brown coal power generation from 20 per cent to 10 per cent. The fund continues to exclude all companies that make a material amount of money from the most carbon-intensive fossil fuels.
Kristen Le Mesurier added: “Our revised fossil fuels investment screen is the result of extensive research on how we can best support our clients’ objective to support action on climate change while investing in companies that are supporting a transition to a renewable economy.”
Understanding the values and opinions of clients on a range of environmental and social issues is an important step in determining the ethical screens that guide investment decisions in the fund.
“The establishment of a youth advisory committee, which we believe is the first of its type in the industry, ensures we’re giving an equal voice to younger Australians on how their superannuation is invested and brings new perspectives to sustainable and ethical issues,” Ms Le Mesurier said.
AMP Capital is Australia’s largest responsible investment manager with more than A$2.8 billion in funds invested across seven ethical and ESG strategies as at 1 July 2019. AMP Capital’s ESG team is recognised as a leader in the sector, with teams in Sydney, Wellington, Hong Kong and London supporting clients around the world.
About AMP Capital Ethical Leaders
AMP Capital Ethical Leaders are ethical investment funds that AMP Capital has been running on behalf of clients for more than 15 years (previously known as Responsible Investment Leaders). The funds provide an option for investors to make more conscious investments in society and the environment. It is often known as a Sustainable Responsible Investment (SRI) option in the superannuation industry. For more information visit www.ampcapital.com/nz/ethical.
About AMP Capital
AMP Capital is a specialist global investment manager with A$194 billion in funds under management as of 31 March 2019 and more than 250 investment professionals. AMP Capital has a heritage and strength in real estate and infrastructure, and specialist expertise in fixed income, equities and multi-asset solutions.