Lending greater weight to its aim of bringing environmental, social and governance (ESG) factors into investment analysis, Colonial First State Global Asset Management (CFS GAM) has appointed its first head of responsible investment.
Amanda McCluskey, formerly the sustainability manager at Portfolio Partners (which now forms part of global manager Aviva Investors), began work in the role yesterday. She is the first appointment to the newly-created position. A spokeswoman for CFS GAM said McCluskey would assist the manager implement the United Nations Principles of Responsible Investment (UNPRI), which it signed in July 2007. CFS GAM also recently appointed Innovest Strategic Value Advisors to provide research on the exposures of investee companies to extra-financial risks, in which ESG factors play a major role. McCluskey would help the manager embed ESG principles into its investment processes and educate stakeholders about ESG concerns, the spokeswoman said. She had extensive experience in devising sustainability and governance strategies and reporting practices, the spokeswoman said. Indeed, since leaving Portfolio Partners last year McCluskey had been assisting CFS GAM’s parent, Commonwealth Bank of Australia, draw up its broad sustainability strategy.
The biggest risk many super fund members face is not investment volatility but rather not accumulating enough to live on in retirement. Australian Retirement Trust head of investment strategy Andrew Fisher takes Investment Magazine behind the scenes of a migration that saw 1.4 million members moved to a higher-risk, higher-return investment strategy, designed to help them accumulate more at retirement.
Simon HoyleSeptember 12, 2024
