Finance Your Super First State Super joins the Australian Council of Superannuation Investors

First State Super joins the Australian Council of Superannuation Investors

First State is looking to the future by joining ACSI Photo: Getty
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First State Super, one of Australia’s largest superannuation funds, has joined the Australian Council of Superannuation Investors (ACSI) in a move it said reflects its commitment to responsible investing.

First State Super a profit to member fund, is one of the country’s largest funds, managing more than $87 billion on behalf of 800,000 members and clients.

ACSI is a collective of institutional investors and asset owners that work together to improve the environmental, social and governance (ESG) performance of ASX listed companies.

“We are delighted to welcome First State Super as a member and look forward to working with them to achieve our shared goals. ESG risks and opportunities are financially material for long-term investors,”ACSI CEO, Louise Davidson, said,.

“Our members need to know that the companies they’re investing in are managing these issues appropriately. Collective action has proven to be extremely effective at ensuring the principles our members value are supported in markets and regulatory settings.”

“We are committed to investing in ways that provide sustainable returns to our members and make a positive impact on the economy, the environment and the communities in which our members live, work and retire,” First State Super CEO ,Michael Dwyer, said

“We are pleased to support ACSI’s advocacy, engagement and voting programs to encourage better governance standards amongst Australia’s leading companies,” he said.

First State Super brings the number of ACSI members to thirty-eight. Collectively, they manage over $2.2 trillion in assets and own on average 10 per cent of every ASX200 company. ACSI’s expanding member base correlates with our growing impact on corporate Australia, in policy and regulatory settings, and overseas, where our members are increasingly active.

“The most important factor behind our success in driving positive change is member participation. Our members’ willingness to collaborate ensures the voice of investors is heard throughout corporate Australia. With the addition of First State Super, this voice will ring even louder,” Ms Davidson said.