Want to help save the world while you sleep? How about at smoko or lunch, or driving to pick the kids up from footy training?
The option to invest in socially responsible super is available through the Maritime Workers Union’s new default super provider, Hostplus.
In these days of increased awareness, Hostplus offers what it calls a ‘Socially Responsible Investment’ which is a ‘balanced investment option focused on values-based investing.’
The returns come from ‘investing in a portfolio with a bias to growth assets and has a high diversification,’ the company website says.
It’s designed for members with a medium to long-term investment timeframe.
The point of difference is that the fund seeks to reduce members’ exposure to the fossil fuel industry, others that breach human rights or labour rights standards as well as those involved with controversial weapons development.
Exposure to the gambling industry and palm oil and tobacco production is also avoided in this investment.
The fund returned an average 7.33 percent over seven years.
Hostplus offers a range of additional member services which were previously not available with Maritime Super said NSS Finance Manager Darren Locke.
“I’d advise members to have a look at what this means for them,” Darren said. “You can be more involved in your super including making sure it has positive social outcomes.”
‘Most of all, they can talk to you about your account and transitioning to retirement and how much super you’re going to need to meet your post work living expectations.”
