Rest has set a target to achieve a one per cent allocation to impact investments by 2026 and its first impact investment, the addition of Palisade Impact to Rest’s portfolio, represents an important step towards this ambition.
Impact investing is a key element of Rest’s responsible investment approach and ambition to help members grow their super while contributing to a more sustainable future, said Rest’s Deputy Chief Investment Officer Simon Esposito.
“Significant investment is required to address the scale of climate change and energy transition and the road to net zero creates investment opportunities
“We are proud to invest with impact and with Palisade.”
Australian-based Palisade Impact focuses on assets that target and contribute to practical solutions to social disadvantage and climate change by investing in next generation infrastructure and businesses providing essential services.
“At Palisade Impact we believe that impact investment delivers value and we look forward to delivering a strong return coupled with a strong environmental and social impact for Rest’s members,” said Steve Gross, CEO, Palisade Impact.
On 3 April Mercer announced the completed merger of BT Super into the Mercer Super Trust and also the completed acquisition of Advance Asset Management Limited.
The merger positions the Mercer Super Trust as one of the 15 largest funds in Australia with approximately 850,000 members and $63bn total assets under management.
For many members of the merged Mercer Super Trust this will mean fee reductions, while all members will have access to expanded investment choice as well as access to support services including Care & Living with Mercer and complimentary limited financial advice as it relates to their superannuation.
David Bryant, CEO Marsh McLennan Pacific and President Mercer Pacific, said:
“Leveraging our global scale and the insights of our team of approximately 2,000 investment professionals around the world, Mercer Super members will benefit from being part of one of the most competitive super funds in Australia, and this is only the beginning.”
Tim Barber, CEO, Mercer Super reinforced the fund’s commitment to growth and said: “The merger of BT Super into the Mercer Super Trust provides the platform for Mercer Super to keep diversifying and growing our offering for members, while maintaining a continued commitment to fund performance and some of the lowest fees in the market.”.