Commonwealth Bank-owned wholesale investment platform Avanteos has added the Colonial First State Generation Sustainability Fund to its 600-strong smorgasbord of managed fund options.

Sharing a common parent with the sustainability fund – the CBA – secured the opportunity for Avanteos to get in ahead of the rest of the market to add the fund to the platform. “Obviously being part of the same parent we’ve got the opportunity to take advantage of it earlier than the rest of the market, and on that basis we’re able to make it available to our investors before it becomes more widely available down the track,” Avanteos chief executive Chris Stevens said. However, the preferential treatment does not extend to cheaper fees for the fund to sit on the platform. “It has the same commercial arrangement as any other fund that’s on the platform,” Stevens said. “There’s certainly an arms length arrangement there.” Stevens said there was a strong interest in the fund and that it was well received by financial advisers following the fund’s promotion done in conjunction with its high profile backer, former US vice president Al Gore. The sustainability fund is the first of its kind for Avanteos, although there is scope for more, according to Stevens. “I think there’s an opportunity there, provided there’s a sound investment basis for it. We can’t just have it on the grounds of sustainability – there’s got to be a strong investment capability as well,” he said. The fund was launched last September on the Commonwealth Bank’s $43 billion retail platform First Choice. Avanteos provides wholesale white label solutions for the CBA distribution network. It has $6.5 billion in funds under administration