Chosen from a competitive field of 129 applications from every state and territory, the nine organisations selected are: Common Ground, Ember Connect, Global Sisters, Prison Network, Protea Place, SisterWorks, Stepping Stone Social Enterprise, The Social Outfit and WomenCAN Australia.

These partners all support women most impacted by economic inequality – including rural and regional women, incarcerated women, First Nations women, migrant and refugee women, single mothers and women with disability – to access meaningful and sustainable work.

Caroline Gurney, CEO of Future Generation, said: “Gender inequality is holding our country back. Our new partners are doing vital work to help some of Australia’s most vulnerable women build the foundations for economic independence and security. We are delighted to welcome them into the Future Generation family.”

FGW has also announced three new members to its Advisory Committee – Georgina Byron AM, CEO of the Snow Foundation, Carol Schwartz AO, one of Australia’s leading business and community leaders, and Serena Grant, Director of Business and Human Rights at Minderoo Foundation. They bring deep expertise in gender equity, investing in women entrepreneurship, and social impact. They will be joining existing Advisory members, Elana Rubin AM, Natasha Stott Despoja AO, Marianne Perkovic and Elizabeth Lewin.

Geoff Wilson AO, Founder of Future Generation, said: “Securing advisers of Georgina, Carol, and Serena’s calibre is a significant milestone for Future Generation Women. It underscores the strength of the Future Generation model, which allows investors to access leading fund managers and earn solid investment returns, while simultaneously supporting good causes.”

Backed by Andrew and Nicola Forrest’s Minderoo Foundation, FGW is managed entirely by women portfolio managers, who waive all management and performance fees so that 1% of the fund’s assets can be donated to charity each year. The unlisted trust builds on the proven Future Generation model, which has to date donated $100 million to social causes while still delivering investment returns to its 15,000 shareholders.

Emily Fuller, Future Generation’s Social Impact Director, said: “Supporting women to access work – especially those women facing the toughest structural barriers – is one of the critical drivers of closing the economic gap between genders. In future funding rounds, FGW will focus on the other levers, which are building financial capability among women and girls and dismantling the harmful gender norms that are known to underpin the persisting gender gaps in Australia.”

FGW will work with its new partners on a shared measurement framework to track both individual outcomes and collective progress across the portfolio.

The post Future Generation Women announces inaugural Impact Partners and new Advisory Committee members appeared first on AdviserVoice.

Mick O’Brien

EQT Holdings Limited (ASX: EQT) (Equity Trustees), announced it had completed the integration of Australian Executor Trustees Limited (AET).

The completion was marked by the conclusion of the Transition Service Agreement (TSA) that Equity Trustees had in place with Insignia Financial Limited (ASX:IFL) (Insignia) to support the integration.

Equity Trustees’ Managing Director Mick O’Brien said the acquisition was exceeding expectations.

“The integration was completed within the $22 million budget, delivering revenue synergies of $3.9 million in FY24, and the anticipated annual cost synergies of $3.5 million per annum are expected from 2H FY25.

“This is an incredible achievement by our people, and I wish to acknowledge the skill and dedication with which they have managed the integration.

“When we announced the acquisition in August 2022, we said it was a strategically and financially compelling acquisition that would deliver significant growth for Equity Trustees.

“Now operating seamlessly as part of the TWS private client business, AET has added scale, expertise, geographic spread and leadership in more markets.

“It has increased FUMAS, boosted revenue, and has been earnings accretive from day one.”

AET was acquired from SFG Australia Limited, a wholly owned subsidiary of Insignia in November 2022 and funded through a combination of debt and equity.

It combined two leading providers of professional private client trustee services in specialised estate and trustee services, including native title, compensation and charitable trusts, and wills and estates. It also added a portfolio of Small APRA Funds (SAFs) to Equity Trustees’ growing superannuation trustee business.

Mr O’Brien said: “From a financial perspective, we will see the full benefit for the first time in FY26, but much of that will come through in the second half of FY25”.

Equity Trustees’ Chair Carol Schwartz said, “The success of this integration is a credit to the management team and reflects the expertise that we have built adding new businesses into the group.

“This supports our strategy to be the leading trustee services provider in Australia and we are going from strength to strength, as we have done for the past 140 years and will continue to do.”

The post Equity Trustees completes Australian Executor Trustees integration on time and on budget appeared first on AdviserVoice.

Carol Schwartz

Strategic focus and transformative investments driving growth

• Funds under management, administration and supervision at $202.8 billion, up 26.7% on the prior year
• Revenue increased 23.1% to $174.0 million
• Underlying net profit after tax up 13.8% to $37.9 million
• Statutory net profit after tax $20.7 million, up 10.0%
• Final dividend 53 cents per share, bringing total dividends for the year to 104 cents
• Strong progress to date on the AET integration, delivering on anticipated synergies and driving strong TWS performance
• Newly combined Corporate and Super business established and positioned for growth
• Expenses higher, driven by investment to support growth and some inflationary impacts
• Positive client satisfaction and employee engagement outcomes
• Charitable giving of $178 million providing valuable support in challenging times
• Outlook positive, with market leading positions and strong business pipelines

EQT Holdings Limited (ASX: EQT) (Equity Trustees) has announced its results for the year ending 30 June 2024. Managing Director Mick O’Brien said, “This has been a strong year for Equity Trustees, with FUMAS, revenue and profit all showing good growth.

“These results reflect a full twelve-month contribution from AET (relative to a seven-month contribution in the previous corresponding period (PCP)), realised revenue synergies, and strong organic growth in both Trustee and Wealth Services (TWS) and the newly combined Corporate and Superannuation Trustee Services (CSTS) business.

“Our strategic focus and investments are paying off, and the results are flowing through to the bottom line.”

Equity Trustees Board Chair Carol Schwartz said, “Equity Trustees has had a positive year as it continues to pursue its growth strategy.

“We have remained focussed during a transformative year in which we successfully integrated AET, combined two of our major businesses and upgraded our technology systems.

The Board declared a 53 cent dividend for the half, taking the total for the year to 104 cents.

Mr O’Brien said growth in FUMAS had been strong and reached a record $203 billion.

“The significant rise in funds under our stewardship flows directly through to our revenue and positions us as one of Australia’s top five wealth groups,” he said.

Revenue increased 23.1% to $174.0 million for the year, while group underlying net profit after tax was up 13.8% to $37.9 million.

Mr O’Brien said the strong growth necessitated investment, and expenses rose 28.3% to $141.8 million.

“Expenses were understandably higher as we transferred all AET staff to the group, and continued to hire new staff in a tight employment market to manage our growth. Persistent inflation also impacted costs across the group,” he said.

“We made pleasing progress on our major technology and transformation initiatives, with several key phases concluded during the year.

“Technology expenditure costs continue to be elevated, but are expected to be largely complete towards the end of FY25.

“On client satisfaction we again produced strong results, and for employee engagement we improved on key performance measures company wide.”

Trustee and Wealth Services (TWS)

TWS had a strong year with revenue increasing 30.3% to $99.1 million. This above-trend growth was attributable to a full twelve-month contribution from AET, the realisation of $3.6 million of revenue synergies from the AET acquisition and good organic growth across most product lines.

“The integration of the AET business has exceeded expectations, and the investment is positioning us well to win new clients and other opportunities that are now flowing,” Mr O’Brien said.

“Organic growth was strong and the pipeline of new business activity remains healthy, with the new digital solutions expected to further support organic growth momentum over time.”

Corporate and Superannuation Trustee Services (CSTS)

The newly-combined Corporate and Superannuation Trustee Services (CSTS) business had a strong first year, with revenue up 15.3% to $71.5 million (not including UK/Ireland), reflecting a combination of good organic growth and positive investment markets.

Australian Fund Governance and Trustee Services revenue increased by 11.1%, with pronounced new business activity, while Superannuation revenue increased by 21.3% driven by new appointments and funds flow.

During the year the operations in Ireland were disposed of, and the exit from the UK is being managed and is expected to complete in the first half of FY25.

Mr O’Brien said, “The short term outlook for CSTS remains positive, with a strong pipeline of new business activity.”

Outlook

Mr O’Brien said, “The outlook for the Group is positive, with its transformed structure, enhanced digital capability and enlarged footprint providing a solid basis for further growth.

“The outlook for FY25 benefits from the scaling down of one-off costs related to the integration of AET and our substantial technology investments, and the exit from Ireland and the UK. The industry fundamentals continue to favour our specialist trustee model, despite increasing regulatory intensity.

“In the shorter term, global investment markets are likely to remain highly volatile for some time, however our balance sheet remains strong with low gearing and healthy levels of liquidity proving flexibility for the future.”

The post Equity Trustees reports strong performance on all measures appeared first on AdviserVoice.

Carol Schwartz

Job-readiness support organisation, Fitted for Work, has been awarded a grant of $30,000 from the William Buckland Foundation.

The not-for-profit group empowers women and non-binary people experiencing disadvantage, with the practical skills, self-esteem and know-how to help them move forward in the workplace.

“Over two thirds of Australian women are over-represented in casual and part-time roles and are almost twice as likely to be underemployed, making them vulnerable to financial insecurity and unemployment during times of adversity,” said Donna De Zwart, Managing Director of Fitted for Work.

“We’re grateful for this much-needed grant from the William Buckland Foundation, which will deliver 12 months of tailored and holistic services, supporting women to upskill, build confidence and resilience, and prepare to re-enter employment as the economy turns.”

Services in the Fitted for Work project are tailored to meet individual needs and can be accessed in a variety of methods including online, via a dedicated service app, self-paced individual and group training webinars, face to face appointments and phone.

The William Buckland Foundation is one of Victoria’s largest philanthropic trusts. Since its establishment in 1964, it has distributed more that $129 million in grants which focus on supporting better housing, health, education and employment outcomes.

“The global pandemic has further affected women’s economic security and we recognise that not-for-profit organisations like Fitted for Work are operating in financially challenging times. We are delighted to support this very capable and important organisation in its work to improve job prospects for women and non-binary community members in need,” said Dr Jane Gilmour OAM, Chair of the William Buckland Foundation.

Equity Trustees is a co-trustee of the William Buckland Foundation, and leading source of philanthropic grants in Australia as manager and trustee of more than 600 charitable trusts.

“Right now, as people return to CBD offices in our major cities, it’s important that those who are experiencing disadvantage have the opportunity and support to start again and create their future,” said Carol Schwartz AO, Chair of Equity Trustees. “Fitted for Work is an incredible organisation doing essential work to support many who have been worst impacted by the pandemic.”

The theme of International Women’s Day on 8 March 2022 is #BreakTheBias towards a world free of bias, stereotypes; that is diverse, equitable, and inclusive; and where women’s equality is universal.

The post Getting more women back into the workplace appeared first on AdviserVoice.

Mick O’Brien

EQT Holdings Limited (ASX: EQT), the holding company for Equity Trustees, has announced a strong increase in profit and a higher dividend, as funds under management, administration and supervision (FUMAS) continued to rise during the six months ended 31 December 2021.

Net profit for the period increased 29% to $12.7 million, on revenue of $55.9 million, up 16%, compared with the pcp. In comparison with the previous half, revenue was up 6% and net profit was up 9%. The Board declared an interim dividend of 48 cents per share, up 9% from last interim. This is midway between the dividend payout policy range of 70%-90% of NPAT and is the highest interim dividend paid in the last decade.”

Chair Carol Schwartz AO said: “Equity Trustees is benefiting from its focussed strategy that has driven strong funds growth.

“Our independent model is becoming the preferred industry standard, and our investment in the business is delivering for all stakeholders.”

Managing Director Mick O’Brien said the consistent strong growth in funds was clearly flowing through to earnings.

“Now at more than $150 billion, FUMAS continues to grow due to the strength of the group’s core business and the substantial investment we are making in people and technology.

“All our businesses are benefiting not only from the growing demand for the independent trustee model, but also recognition of our expertise in an increasingly intense regulatory environment.”

Mr O’Brien said that while the recovery in the equity markets contributed to the result, it was also driven by strong organic growth across each of the businesses.

“Operating expenses were relatively contained at $36.1 million allowing the revenue growth to largely flow to the bottom line, delivering a 29% increase in net profit to $12.7 million compared with the pcp.”

“Our Trustee and Wealth Services business performed well, with good growth in our trusts and specialised market segments and particularly good alpha generation from our Asset Management business for the benefit of clients and beneficiaries.

“The Corporate Trustee Services business continues to be a standout, reporting revenue growth of 17% primarily driven by organic growth from existing clients and new business wins but also favourable equity markets.

“Superannuation Trustee Services also performed strongly, with FUMAS up 21% on the pcp.”

Mr O’Brien said the group performed solidly through the turmoil of COVID and remained focused on building the core business on the back of its strengths.

“We continue to benefit from demographic, regulatory and structural tailwinds, while new business initiatives and potential opportunities in adjacent markets provide further upside.

“Our balance sheet remains strong, with low gearing, a strong regulatory capital position and sufficient funding capacity should this be required.

“The outlook is positive.”

Ms Schwartz said that Equity Trustees’ growth demonstrated the resilience of the group’s business model and its strategy of investing for growth.

“Equity Trustees’ reputation continues to strengthen and attract new clients through our dedicated approach as an independent trusted fiduciary with a strong focus on governance.

“Our expertise is difficult to replicate due to our long history, our focus on building on the foundation of trust which is core to our culture and our brand, and our ongoing investment in people and technology.”

The post Equity Trustees delivers strong earnings increase as funds growth continues appeared first on AdviserVoice.

Carol Schwartz

Global Impact Initiative (GII), Australia’s leading, independent impact investing business, has launched its Global Gender Equality Fund, the world’s first, actively managed, impact investment fund focused on Women and Girls.

The GII Global Gender Equality Fund will invest in a portfolio of carefully selected global companies which recognise and promote gender equality, to achieve the UN’s Sustainable Development Goals, the blueprint to achieve a better and more sustainable future.  Leading global corporates are increasingly adopting and measuring themselves against these SDGs.

The GII Global Gender Equality Fund’s underlying fund manager is Robeco, a global fund manager whose focus in this portfolio will be investing in companies that actively encourage gender equality across board representation, workforce recruitment, management processes, remuneration and policies. Companies that promote gender equality have been shown to consistently outperform their peers and the broader index.

The Fund aims to outperform the broad MSCI World index (Developed and Emerging Markets).  In addition, GII has ensured that its own ESG screens safeguard against exposure to alcohol, gaming, tobacco, weapons, fossil fuels and adult entertainment companies in the portfolio.

GII has innovatively designed the product to give investors the option of taking the income generated in the portfolio or donating the income and/or capital gains to charities with specific programs focused on improving women and girls’ social and economic empowerment, education, health and nutrition.

The five charities chosen because of their exceptional work in this field are Grameen, Malala Fund, UN Women, UNICEF and World Vision. These charities will invest donations into programs such as maternal health, vaccination programs and girls’ education that will provide measurable social impact outcomes and enable the great work that these charities perform to be scaled and improved to maximise and accelerate social impact for women and girls.

The Fund will also make investments in social impact initiatives in Australia.  Gunesekera, having volunteered with Amnesty International for over 30 years, has been engaged personally in programs tackling domestic violence.  As a first generation Australian he also has personal and professional experience of discrimination and inequality.

Commenting on the Fund launch, GII’s founder and CEO, Giles Gunesekera, said: “This has been many years in the planning, and we are excited to be launching a Fund that offers investors the opportunity to have a significant impact on the lives and well-being of women and girls here in Australia and globally. The fact they can do so whilst also generating attractive returns from their investments will, we hope, encourage a swathe of investors into impact investing and more importantly into the area of gender equality.

“The advantage of a fund such as this is that the bigger it gets, the more social impact we can create.  We are not just donating to charities, we are collaborating with them to measure, map and monitor social impact to the UN SDGs. We will be able to drive and accelerate positive social change via granular, intentional and measurable reporting on the social impact achieved.”

The quantitative and qualitative strength of the UN SDGs will be the benchmark for improving social impact for women and girls.  Investors in the fund will receive annual reports detailing specific outcomes achieved through the year.

Professor Muhammad Yunus, who was awarded the Nobel Peace Prize for founding the Grameen Bank and pioneering the concepts of microfinance, believes that women in poorer countries and disadvantaged situations are natural entrepreneurs as they have to innovate every day to survive. They remain disadvantaged because they do not have the opportunities to turn their creativity into sustainable income. The Grameen model of combining microfinance and hands on support empowers women in these situations to realise their own ambitions and to thrive:

“The impact of microfinance has resulted not only in increased household income and savings, but has also increased women’s empowerment, reduced maternal mortality, reduced child mortality, brought down family size, and ensured that millions of children have gone to school, creating a new generation very unlike the previous ones.

“The experience of Grameen Bank and social business is a microcosm of what can happen globally if we put women at the centre of our economic and social activity.”

Australia’s leading trustee company, Equity Trustees, has been appointed as responsible entity of the fund.

Equity Trustees’ Chair, Carol Schwartz AO, who was named Australia’s Leading Philanthropist of 2020, is the Chair of the Trawalla Foundation and Women’s Leadership Institute Australia and has played an integral role in the establishment of Pathways to Politics Program for Women, the Panel Pledge, and the Women for Media database.

“Having gender equality around decision making tables and integrated throughout an organisation is absolutely crucial to ensuring it’s a high performing one. A growing cohort of investors are recognising this, and so it’s fantastic we can offer this global fund opportunity via Equity Trustees.

The Australian fund feeds into the GII Global Gender Equality Fund, which was established in 2020 as a UCITs in Ireland by Equity Trustees and is marketed to investors in Europe, Asia, Middle East and Africa.

The post Global Impact Initiative launches world’s first Gender Diversity Fund appeared first on AdviserVoice.

Kelly O’Dwyer

EQT Holdings Limited (ASX: EQT) has announced the appointment of The Hon. Kelly O’Dwyer as a non-executive director to its Board.

Ms O’Dwyer was the Liberal Party member for the Federal seat of Higgins in the Australian Parliament for nine years, and a former Cabinet Minister. Prior to entering Parliament, Ms O’Dwyer worked in law, government and finance.  She is currently a non-executive director of ASX listed Home Consortium and a member of the School Council of Caulfield Grammar School.

“Kelly’s track record in leadership and senior roles at the highest level of government is well recorded,” said Chair Carol Schwartz AO.

“She brings a combination of deep understanding of government and policy, with a focus on economic and tax policy, Australia’s financial regulatory framework, corporate governance, risk and compliance, and significant leadership experience. Her experience in reforming the superannuation system and financial services, and her work in the areas of entrepreneurship and innovation will bring new perspectives and ideas to the Equity Trustees board room,” said Ms Schwartz.

“Ms O’Dwyer brings an exceptional combination of talent and expertise. I welcome her on behalf of the Board of Australia’s leading trustee company and look forward to working with her,” Ms Schwartz said.

The company also announced that Mr Jim Minto is stepping down from the Board today: “We thank Jim for his significant and valuable contribution to Equity Trustees during his four years of service, including his work as Chair of the Board Risk Committee,” Ms Schwartz concluded.

Ms Catherine Robson has been appointed as Chair of the Board Risk Committee and as a member of the Board Audit Committee. Ms O’Dwyer has also been appointed as a member of the Board Risk Committee.

The post EQT Holdings Limited Board appointment appeared first on AdviserVoice.