WA Super today announced a $20 million commitment to a new specialist impact investment fund, the WA Impact Fund.
The new WA Impact Fund will invest only in Western Australian assets and projects that have positive social and environmental impacts, as well as competitive financial returns.
WA Super’s investment represents a significant milestone for the fast-growing Australian impact investment market, being only the second superannuation fund to provide a dedicated impact investment mandate.
The WA Impact Fund’s mandate includes rooftop solar on community buildings, social impact bonds, sustainable agriculture and financing support for social enterprises.
The commitment will mean WA Super’s 60,000 members can be assured their superannuation is being invested to help them achieve their financial dream, whilst helping to improve Western Australia’s environment and society; now and in decades to come.
WA Super’s CEO Fabian Ross said “The locally focused impact investment fund is one of the first of its kind and we are honored to be pioneering this form of investing. We want to make a difference for all the right reasons, and to help address some of WA’s social and environmental issues whilst continuing to have positive investment returns for our members.”
Our CEO Daniel Madhavan said “We are truly deeply excited to be bringing this impact investment fund to Western Australia, and that WA Super is providing its tens of thousands of members access.
“When people realise that their superannuation can grow while also helping protect the environment and build an inclusive, vibrant community, they love it because it just makes sense.”
About the WA Impact Fund
The WA Impact Fund is a new impact investment fund managed by Impact Investment Group.
Its mandate is for Western Australian investments only, and will be targeting commercial returns alongside measurable, intentional environmental and/or social benefits. It was developed in close collaboration between WA Super and Impact Investment Group.
About WA Super
WA Super’s purpose is simple. helping members achieve their retirement dreams. We are a member-centric, passionate organisation, motivated to improve the lives of our members.
What sets us apart from other super funds is our drive to create a sustainable financial institution, build meaningful relationships and live our values; always putting our members at the heart of everything we do. We have a local and trusted WA brand with a highly engaged workforce.
WA Super already invests their members’ super and positively impact society through their Sustainable Future option, which lets members invest in the kind of world they want to live in. It invests in companies addressing the United Nations Sustainable Development goals – a set of objectives to combat poverty, improve access to essential services, and reduce hunger – in meaningful and measurable ways.
WA Super is the only, not for profit, public offer super fund based in Western Australia. We are in a unique position to help grow the financial services sector in WA and support and engage WA businesses and their employees.
At a glance, WA Super has: