The super fund said Thrive+ was designed to “make it easy for those seeking to generate long-term performance to choose investments which align with their personal environmental, social and governance (ESG) objectives”.
The launch comes on the back of research that shows almost 8 million Australians are considering a move to a more sustainable investment option in the next two years.
Through a survey of 4,567 Australians, 46 per cent of the respondents who were not CFS customers said they are likely to switch their investments to a sustainable option in the next two years. This was even higher among CFS customers at 49 per cent.
“The fund has been designed to give Australians greater choice in where their superannuation is invested. By choosing to invest in this product, investors in the fund can look to use their personal investment for the benefit of the planet and the wider community,” said Kelly Power, chief executive of Colonial First State Superannuation.
“Australians also want to be confident that switching to a sustainable superannuation option can deliver competitive long-term returns at the same time as having positive social and environmental benefits. This is exactly what Thrive+ seeks to achieve.”
The majority (87 per cent) of respondents found the idea of a sustainable investment option appealing, however, a lack of knowledge about sustainability (50 per cent) and concerns about fund performance (41 per cent) and fees (34 per cent) were the top three prohibiting factors in switching to a sustainable fund.
“Australians clearly have an interest in sustainable investment options but are not sure where to start. Thrive+ solves this problem by bringing together some of the world’s leading sustainable investment experts into one fund to help navigate the complexities of financial markets and also identify companies that drive positive change,” added Ms Power.
Thrive+ is an actively managed fund operated in partnership with Al Gore and David Blood’s Generation Investment Management, Melior Investment Management, Impax Asset Management, Pendal Group and Affirmative Asset Management.
InvestorDaily will host the ESG Summit in 2023, where a range of speakers will unpack the latest trends in environmental, social and governance investing, the mindset of future clients and their desire for sustainability and gender parity.
The summit will provide strategies for advisers so they can refine, differentiate and communicate their ESG offering to their existing and new clients. They will also discuss best practices developed by industry leaders to help advisers thrive in the responsible investing space.
It will be held on 23 March 2023 at Aerial UTS Function Centre, Sydney, and 29 March 2023 at Grand Hyatt Melbourne.