MFSS2011 Investment Stewardship Award Finalists – Superannuation Fund category

The prestigious annual Melbourne Financial Services Symposium (MFSS) Investment Stewardship Award recognises long term responsible investment achievement and is sponsored by the Victorian Funds Management Corporation (VFMC).

Finalists for the MFSS 2011 Investment Stewardship Award for Superannuation Funds are:

• Australian Ethical Investment
• CareSuper
• Cbus
• Christian Super

Announcing the finalists Professor Deborah Ralston, Director, Australian Centre for Financial Studies remarked that “each of the Award nominees demonstrates all of the qualities that our expert judging panel consider make them excellent stewards of their member’s retirement savings”.

Prof Ralston stated that each applicant for the Investment Stewardship Award was assessed on their application of environmental, social and governance factors in the areas of investment process, governance, risk management, investment philosophy, service quality, and product innovation.

Ralston ended by noting the special role played by superannuation funds in the lives of their members. “Stretching as it does into retirement, often the relationship between fund and member is the individual’s longest relationship outside of family. Not only is it incumbent on a super fund to maximise returns for the member to live comfortably in retirement, it is the fund’s duty to ensure that those funds are invested responsibly with the long term in mind.”

Investment Stewardship Award winners will be announced on the night of the Gala Dinner of the MFSS on Tuesday 1 March 2011. The dinner will provide an opportunity for the successful superannuation fund to be showcased to industry peers and members as an exemplar of all-round excellence in funds management.

Background

Awards are given for separate Superannuation Fund and Investment Manager categories.

The 2010 Super fund category winner was Cbus, recognising its robust governance structure and very strong membership servicing and communication culture.

The 2010 Investment Manager category winner was AVIVA Investment Management, recognising integrated sustainability into its investment decision making process and ownership.  It also demonstrated strong core values of integrity, teamwork, innovation and performance which delivered long term value to its clients.

The 2010 judging panel awarded a “Commendation” to UCA Fund Management for their integration of UNPRI in all their processes.

• Applications were screened under strictest confidentiality, by a Judging Panel of experienced finance professionals chaired by John Gall.

The independent judging panel assessed applicants against the following criteria using the application of ESG factors as a benchmark:

• Investment performance;
• Governance;
• Risk management;
• Investment philosophy;
• Service quality; and
• Product innovation.

MFSS 2010 sponsors were NOT eligible to apply.