Lexi Webster
Australian Ethical Super is an award-winning superannuation fund that has been focusing on a brighter future for people, planet, and animals by investing ethically since 1986. It offers a range of ethical super investment options that are subjected to an ethical screening process. This means that whatever option you choose, they work to keep your investments aligned with ethical values. Australian Ethical has been positively received by customers for its transparency and commitment to ethical investing. However, some customers have reported negative experiences with the fund, citing poor customer service and issues with fund rollovers. With no global standard for ethical investing, it is important to understand how a particular fund intends to invest your money ethically.
| Characteristics | Values |
|---|---|
| Number of account holders | Over 100,000 |
| Ethical investing approach | Restricts investment in fossil fuels, gambling, tobacco, alcohol production, environmental destruction, mining, logging, coal, gas, oil, human exploitation, live animal exports, carbon emissions, weapons, and nuclear weapons companies |
| Investment sectors | Renewable energy, IT, healthcare, education, clean energy, aged care |
| Performance | Australian Ethical has moved into the top quarter of funds after recent improvements in performance |
| Fees | Lowered its fees over time and plans to continue cutting fees as more members join |
| Customer service | Mixed reviews, some positive, some negative |
Explore related products
What You'll Learn
Australian Ethical's commitment to people, planet, and animals
Australian Ethical is committed to doing right by people, planet, and animals. The company offers a diverse range of super investment options that are subjected to an ethical screening process. This process ensures that investments are not made in companies or sectors that engage in destructive activities, such as tobacco production, coal mining, and the development of nuclear weapons.
In terms of their commitment to people, Australian Ethical supports human dignity and resists discrimination. They believe that limiting access to civil institutions like marriage based on sexual orientation is discriminatory and stigmatising. The company also acknowledges the Traditional Owners of the land on which they work, the Gadigal people of the Eora Nation, recognising and celebrating their ongoing connection to land, waters, and culture.
Australian Ethical's commitment to the planet is evident in their efforts to address global ethical challenges. They recognise that catastrophic climate change can only be averted by reducing greenhouse gas emissions and addressing deforestation, which contributes to climate change and causes immense suffering to people and other sentient beings. Additionally, they aim to contribute to a low-carbon future by investing in companies that are part of the solution and restricting those that are not.
The company also prioritises animal welfare, restricting investments that could harm or exploit animals. Over 100,000 Australians have chosen Australian Ethical Super to invest in a better, cleaner, and more sustainable future, reflecting the company's dedication to making a positive impact.
Australian Ethical's mission is to embed ethics into the daily behaviours of business and investment, using capital as a force for good in the world. They actively sponsor and participate in events that raise awareness and foster discussion about human rights and social justice issues, such as the Human Rights Arts & Film Festival, demonstrating their commitment to driving positive change.
Amending Birth Certificates: The Process in Australia
You may want to see also
Explore related products
Australian Ethical's investment options
Australian Ethical is an investment fund that has been investing ethically since 1986. The fund focuses on future-building sectors, including renewable energy, IT, healthcare, and education, while restricting investment in areas like fossil fuel companies, gambling, tobacco production, coal mining, and nuclear weapon companies.
Australian Ethical offers a diverse range of super investment options depending on your investment objective, timeframe, and risk profile. These options are Defensive, Neutral, and Growth. Defensive is for those with a short-investment timeframe who seek to conserve capital and ensure stable income. Neutral is for those with a medium-term investment timeframe who seek lower volatility but with some growth and income. Growth is for those with a longer-term investment timeframe who can accept higher risk and are not reliant on income produced by their investments.
Australian Ethical also offers a range of managed fund options, which are ready-made to suit your needs. Each fund has different risk profiles based on your financial objectives, risk tolerance, and personal financial situation.
Australian Ethical has been praised for its ethical approach to investing, with over 100,000 Australians choosing the fund to invest in a better, cleaner, and more sustainable future. The fund's award-winning investment team has shown that ethical investing can deliver healthy returns.
However, there have been some negative reviews of Australian Ethical, with some customers complaining about a lack of meaningful customer service and deliberate attempts to obfuscate communication. There have also been concerns raised about the fund's ethics being purely a watermark on trading practices, with some feeling that the fund does not truly live by its stated values.
Australia's Current Inflation Rate: How High Is It?
You may want to see also
Explore related products
![Super [Blu-ray]](https://m.media-amazon.com/images/I/91juxNYFC4L._AC_UY218_.jpg)
Australian Ethical's customer service
Australian Ethical Super is a superannuation fund that offers an ethical approach to investing, favouring companies that are expected to thrive in a lower-carbon and fairer future. The fund restricts investment in areas like fossil fuels, gambling, tobacco, and animal testing.
Reviews for Australian Ethical Super are mixed when it comes to customer service. While some customers praise the excellent communication and top-class phone service, others complain about belligerent, arrogant, and dismissive staff who failed to resolve their issues.
For example, one customer reported that their withdrawal request was not processed even after the promised processing time of four business days, with their request still pending almost four weeks later. Another customer shared a similar experience, stating that they had spent at least 10 hours on the phone trying to resolve an issue with no success.
On the other hand, positive reviews highlight the quick and easy phone contact, with staff described as patient, kind, and helpful. One customer mentioned that they are never left in the dark and are always well-informed.
Australian Ethical Super provides multiple ways for customers to get in touch, including a dedicated phone line (1800 021 227) that is operational from 8:30 am to 5:30 pm (AEST/AEDT), Monday to Friday. The company also offers online support through its website, where customers can access their accounts and find answers to frequently asked questions (FAQs).
Overall, while there are some negative reviews regarding customer service, there are also positive testimonials highlighting the helpfulness and responsiveness of Australian Ethical Super's staff. The company provides multiple channels of communication, allowing customers to choose their preferred method of contact.
Best Restaurants Near the Australian Museum: A Foodie's Guide
You may want to see also
Explore related products
![The Super [DVD]](https://m.media-amazon.com/images/I/51YGS5Q277L._AC_UY218_.jpg)
Australian Ethical's fees
Australian Ethical is an investment fund that focuses on companies that are expected to thrive in a low-carbon and fairer future. The fund restricts investment in areas such as fossil fuels, gambling, tobacco, and weapons. It also focuses on future-building sectors like renewable energy, IT, healthcare, and education.
Australian Ethical has an in-house team of ethics analysts who assess new and existing investments against the Australian Ethical Charter and its 23 principles. If ethical problems are identified, the fund may decide to divest or advocate for change.
Australian Ethical states that their investment fees are slightly higher than their competitors due to their hands-on, deep green approach to ethical investing. However, they have reduced their fees over time, and the latest fee reduction on 1 October 2020 lowered the fee on their Defensive option (super) and Defensive option (pension) from 0.40% to 0.20%. Additionally, from 1 April 2020, they reduced their administration fee across all super and pension options from 0.41% to 0.29%.
As of 1 April 2020, the total fee for $50,000 invested in the Australian Ethical Balanced (accumulation) option is $617 per year. This includes the annual dollar-based administration fee of $68. It is important to note that fees and costs can impact an individual's final retirement balance, and they should be considered when choosing a super fund.
While Australian Ethical has received some positive reviews for its ethical approach and good returns, there have also been complaints regarding customer service and delays in processing requests.
Exploring Australia's Cultural Evolution: Trends Transformed
You may want to see also
Australian Ethical's performance
Australian Ethical is an award-winning superannuation fund that has been focusing on a brighter future for people, planet and animals by investing ethically since 1986. The fund has an ethical screening process that restricts investments in destructive companies and sectors, including fossil fuels, coal mining, tobacco production, gambling, nuclear weapons, and environmental destruction. Instead, Australian Ethical focuses on future-building sectors such as renewable energy, IT, healthcare, and education.
In terms of performance, Australian Ethical has delivered healthy returns for its members. The fund has grown significantly in the past five years, with the amount of super it manages increasing from $639 million to $2.4 billion. This growth can be partly attributed to its commitment to ethical investing, as more people are turning towards ethical investments in their superannuation. A 2017 poll by the Responsible Investment Association Australasia (RIAA) found that 80% of Australians would be willing to switch funds so their money is invested according to their values.
Australian Ethical has also received positive reviews from its members. Some have praised the fund for its transparency and commitment to ethical values, stating that it allows them to relax knowing their money is being invested in companies that share their values. Australian Ethical has also been recognised for its superior risk-adjusted performance after fees, with plans to continue cutting fees as more members join.
However, there have been some negative reviews regarding customer service and the complexity of the rollover process. Some members have experienced delays and a lack of communication from Australian Ethical staff, which has led to dissatisfaction.
Overall, Australian Ethical's performance has been positive in terms of financial returns and its commitment to ethical investing. The fund has experienced significant growth and recognition for its values-aligned investing approach. However, there are some areas for improvement regarding customer service and the efficiency of certain processes.
Quickly Send Money from Ireland to Australia Instantly
You may want to see also
Frequently asked questions
Australian Ethical Super is an award-winning superannuation fund that offers a range of ethical investment options. The fund has been focusing on a brighter future for people, planet and animals by investing ethically since 1986.
Australian Ethical Super focuses on future-building sectors including renewable energy, IT, healthcare, and education. They restrict investment in areas like fossil fuel companies, gambling and tobacco production. They also do not invest in coal mining and nuclear weapon companies.
Australian Ethical Super is one of four funds in Australia that claim to be fully ethical. Others include Future Super, Local Government Super and Christian Super. Australian Ethical Super has been recognised for its good returns, with the fund moving into the top quarter of funds after recent improvements in performance. However, some reviews criticise the fund for its customer service and red tape.
It is important to look at the whole picture, including performance 'net of fees', and consider engaging a financial adviser to look at your individual situation. You can also use the RIAA's Responsible Returns search tool to see if a super provider is certified, or select from a range of ethical options to tailor your search.
