Industry super fund Aware Super has introduced an actively-managed high growth socially conscious option and high growth indexed option to complement its core high growth actively managed option.
In an update from the fund on Friday, it said more than 5,000 members have already moved about $340 million of their super into the two new options.
That transition included a significant number of members under legacy brand VicSuper who received early access under a two-stage rollout which commenced last year.
The high growth socially conscious option is additional to the fund’s balanced socially conscious option, giving members more investment risk options within the responsible investment spectrum.
Aware Super members in the accumulation phase now have nine diversified options, including two socially conscious options and two indexed options. Previously there were five diversified options, including one socially conscious option.
In line with demand from these members, these new options have a higher proportion of defensive assets.
Aware Super now offers a conservative socially conscious option alongside its conservative balanced socially conscious option for members in the pension phase. They can also choose a new conservative indexed option or conservative balanced indexed option.
At the same time as the fund has launched its new investment menu, VicSuper and Aware Super have been formally integrated.
VicSuper and First State Super had merged in 2020 to form Aware Super, with WA Super joining soon after.