October 31 2020
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Important notice about changes to the Ethically Minded investment option:
ESSSuper has terminated AMP Capital Ethical Leaders Balanced Fund effective 15 September 2020 as the sole investment manager for the Ethically Minded Option. ESSSuper felt that it was in members’ best interests to end the relationship after carefully considering the appropriateness of the investment and taking into account recent organisational changes at AMP which have increased investment risks for members in our Ethically Minded Option. Members in the Ethically Minded Option will have their super reinvested in a portfolio that very closely matches the risk and return objectives of the Ethically Minded Option. The Ethically Minded Option in the interim will comprise a 70% allocation to the Growth Option and 30% allocation to the Shares Only Option. Please refer to our product disclosure statements available on our website for further details about the Growth Option and the Shares Only Option.
From 16 September 2020, Investment fees for members in the Ethically Minded Option will temporarily decrease from 0.73% per annum to 0.47% per annum while a new investment manager search is underway. The temporary investment will be made in accordance with ESSSuper’s Responsible Investment Policy. This excludes tobacco and controversial weapons investments but has fewer ethical exclusions than the Ethically Minded Option’s investment with AMP.