Anthony has more than 25 years’ experience across legal, investment, transformation and operational efficiency within superannuation, investment management, financial advice and banking services organisations. Prior roles include COO at MLC Wealth, Global COO at Mercer Investments, and Group Executive, Risk & Governance at Colonial First State. Most recently Anthony has been consulting to Australian Retirement Trust.

As COO, Anthony will report directly to CEO, John McMurdo, and become a key member of the Executive Leadership Team. The role is responsible for overseeing Australian Ethical’s day-to-day operations and driving strategic initiatives to support growth, resilience and efficiency.

Australian Ethical Managing Director and CEO, John McMurdo said, “I’m delighted that Anthony will be joining our business at this exciting time. We have made significant progress in the development of a modern operating platform designed to help us scale with efficiency and resilience. Anthony’s skills and expertise will ensure we effectively leverage and grow the capability we now have.”

Anthony Lane said, “I’m thrilled to be joining the team at Australian Ethical and am excited about the opportunity to support the continued growth of the organisation. Over the past few years, Australian Ethical has taken steps to build strong superannuation and investment operating foundations and I look forward to helping the business capitalise on its investment for its members and investors and continue to enhance its operating efficiency.”

Anthony joins Australian Ethical as the investment manager announced it has exceeded the milestone of $14bn in funds under management.

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John McMurdo

Australian Ethical maintains positive net flows, as market volatility sees Funds Under Management (FUM) fall by 1% to $13.10 billion in the third quarter of FY25.

Australian Ethical’s superannuation business and values aligned channel prove resilient through a challenging market environment over the quarter, with the business reporting positive retail and wholesale flows of $0.11 billion.

Retail and wholesale net flows

The positive result was underpinned by the superannuation business where continued superannuation guarantee contributions provide resilience during challenging market conditions. 

Following the resumption of marketing campaigns post the super administration transition to GROW, Australian Ethical saw super member numbers growing during the quarter. Further, super outflows have moderated post completion of this transition of approximately 100,000 members from the Mercer platform to GROW Inc in the second quarter. While this transition is now complete and operational, improvements to the digital experience to lift rollovers from new members are a key focus area during the fourth quarter.

Australian Ethical continues to see traction in their channel for values-aligned organisations with another $30 million inflow during the quarter. This largely offset redemptions in managed funds and investment products resulting from the market volatility. Net flows into the non-super investment products were $1 million for the quarter.

Institutional net flows

During the quarter, net institutional outflows of $0.06 billion were reported, which related to fixed income funds and mandates. This was driven by an institutional client’s working capital requirements and mortgage capital management. These funds are low margin and the impact on revenue is slight.

Investment Performance

Significant market volatility during the quarter saw the ASX300 lose around 4%. By comparison, Australian Ethical’s diversified asset base which encompasses international equities, private markets and fixed income as well as Australian equities resulted in negative investment performance of just 1.6% for the quarter or $0.22 billion.

Managing Director John McMurdo said: “In what has become a challenging market environment, I am pleased that our diversified business model and asset base continues to be resilient with FUM down only 1 per cent to $13.10 billion.

“Regardless of the context, we remain firmly focused on investing in line with our Ethical Charter as we have done for over 38 years and during which we have proven that investing ethically delivers over the long term, and during various economic and geo-political cycles.

“We remain focused on our strategy which continues to deliver positive outcomes for our various stakeholders.”

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John McMurdo

Half-year results to 31 December 2024

Australian Ethical Investment Limited (ASX: AEF) has announced its financial results for the half-year ending 31 December 2024, with Underlying Profit After Tax (UPAT) of $11.5 million, up 35% on the prior comparative period and Net Profit After Tax (NPAT) attributable to shareholders of $9.3 million, up 50% on the prior comparative period.

The ethical investment manager reached a new Funds Under Management (FUM) milestone of $13 billion during the period, ending the year at a record $13.26 billion. This was 27% up on 30 June 2024 and 37% up on 31 December 2023.

Australian Ethical has been implementing its current growth strategy for five years and has grown more than threefold, from $3.87 billion FUM in December 2019 to over $13 billion today, with underlying EPS growing at a 21% compound average growth rate over this period.

During the first half of FY25, the organisation has gained further momentum, not only delivering a strong uplift on all key financial metrics but also completing the acquisition of the Altius Asset Management (Altius) business and laying the business foundations for further organic and inorganic growth over the coming years.

John McMurdo, Australian Ethical Chief Executive Officer said, “This is a strong first half result for Australian Ethical, and evidence that our growth strategy is delivering.

“Compared to the first half of FY24, we’ve seen FUM grow by 37%, revenue grow by 21% and underlying profit growth of 35%. These are strong financial metrics that we can feel very proud of. Our growth has been underpinned by organic activity with strong results across our direct and values aligned channels as well as inorganic activity with the acquisition of Altius.

“From an operational perspective the first half of FY25 has also seen the transitions from Mercer to GROW Inc for our super administration and from NAB to State Street for our custodian services to support the continued growth and cost efficiency of our business.”

Financial highlights 

• Record underlying profit after tax (UPAT) of $11.5 million, up 35%
• Net profit after tax (NPAT) attributable to shareholders of $9.3 million, up 50%
• Total revenue up 21% to $58.8 million
• Operating expenses of $41.5 million up 14% (excluding integration and transformation costs of $2.8 million, and due diligence and transaction costs of $0.86 million)
• Underlying cost to income ratio improvement to 72% compared to 74% in FY24^[1]
• Underlying diluted EPS^[32] of 10.11 cents, up 34%
• Interim dividend of 5 cents per share, fully franked, up 67% 
• Strong balance sheet, no gearing, well managed operating cash flow

Operating highlights

• FUM reached $13.26 billion at 31 December 2024, up 27% compared to 30 June 2024
• Continued positive retail and wholesale net flows despite impact of the limited-service period during the superannuation administration transition
• Funded customer numbers over 132,000 at 31 December 2024
• Positive investment performance^[3] of $0.68 billion
• Acquisition of Altius business completed in late September 2024, increasing FUM by $1.93 billion, and expanding fixed income capability
• $1.02 million provisioned for the Australian Ethical Foundation
• Transition of superannuation administration services to GROW Inc for Mercer cohort of members and successful transition of custody and investment administration services from NAB Asset Servicing to State Street, both delivering cost efficiencies
• Continued awards and accolades across multiple areas of the business

Note: All metrics relate to the half year ended 31 December 2024 with comparisons to the period ended 31 December 2023, unless stated otherwise 

Funds Under Management

Superannuation

Australian Ethical reported positive superannuation net flows of $194 million, predictably below the comparative half as the regular marketing program was scaled back during the 7-week limited-service period covering the transition of the Mercer superannuation administration services to GROW Inc. Pleasingly however, Australian Ethical reported record superannuation guarantee contributions during the period which partially offset the impact of the limited-service period.

Investment products

Investment products net flows (excluding institutional) contributed $75 million, with positive inflows from the values-aligned channel where sales efforts have increased, and a solid pipeline has been built. This channel focuses on not-for-profit organisations including charities and foundations, as well as values-aligned businesses looking to invest their funds with an aligned fund manager.

The institutional channel saw net outflows for the period of $58 million. As part of the acquisition of the Altius business, Australian Ethical now serves a number of institutional clients, including Australian Unity (AU). AU utilises short-term Altius fixed income funds for working capital management. As such, these funds experience seasonal fluctuations (inflows and outflows) as capital requirements change for AU. The Altius fixed income funds are lower-margin funds, with the volatility of FUM having only a small impact on revenue.

Investment Performance

Australian Ethical reported positive investment performance during the period, increasing FUM by $678 million.

Revenue

Total revenue increased 21% to $58.8 million. The increase was driven by average FUM growth which was underpinned by continued positive net flows, positive investment performance and the acquisition of the Altius business. Compared to the second half of FY24, revenue was up 13%. Average FUM grew 29% in the first half compared to first half of FY24.

As foreshadowed at FY24 year end, Australian Ethical’s overall fee margin for the period reflects the impact of the lower margin fixed income funds following the acquisition of the Altius business in late September 2024. The average revenue margin across all products was 0.96% for the first half compared to 1.02% for the full year FY24.

Expenses

As Australian Ethical continues to scale, operating leverage has seen further improvement. Underlying cost to income ratio (CTI) improved from 74% in FY24 to 72% in 1H25.

Expenses (excluding $2.8 million integration and transformation costs and $0.86 million due diligence and transaction costs), increased by 14%, driven predominantly by increased variable costs as the business grows, as well as enhanced capability as part of the execution of the growth strategy.  These increases have been partially offset by operating expense savings following the operating platform enhancements.

Expense increases were primarily driven by:

• Employment expenses, following enhancement of investment team capability through the onboarding of the Altius team, as well as the run rate of FY24 hires and remuneration increases.
• Fund related expenses increased 16%, compared to revenue growth of 21% and average FUM growth of 29%.
• The increases relating to FUM and transaction volume growth was significantly offset by the new commercial rate cards following the transitions to GROW Inc for superannuation fund administration and State Street for custody and investment administration services, with the combination of these fund related fees increasing only 6%.
• The overall increase in fund-related expenses was also driven by implementation costs relating to the enhancement of our investment platform.
• IT expenses increased 29% following expenditure on a strengthened and resilient operating platform and technology infrastructure, to support current and future business growth. This increase also includes higher technology platform licence costs following business growth, partly driven by the acquisition of the Altius business.

Expense increases were partially offset by:

• A reduction in marketing expenses of 15%, primarily due to the scale back of marketing campaigns during the limited-service period as part of the superannuation administration transition to GROW Inc. Marketing expenses in the second half are expected to increase as investment in brand and acquisition campaigns resumes, to further grow the superannuation member base. Full year FY25 marketing expenses are expected to be slightly higher than FY24.

Interim dividend

The Board declared a fully franked interim dividend of 5 cents per share for the half-year ended 31 December 2024. The record date is 6 March 2025 with payment on 21 March 2025.

Australian Ethical Foundation Limited

Australian Ethical has provisioned a $1.02 million allocation to the Foundation during the period, for its future work supporting high impact, innovative charities in their work to combat climate change in specific focus areas.

Each year, 10 per cent of Australian Ethical profits^[4] are allocated to not-for-profit organisations through the Foundation.

Outlook

John McMurdo, Australian Ethical Chief Executive Officer, concluded: “We are seeing strong momentum which I expect to continue into the second half of the year, as we bed down our new super administration platform, and retain focus on our strategic priorities.

“l anticipate continued growth in brand awareness and superannuation net flows post transition to GROW as we recommence our marketing activity.

“During the second half, revenue margins are expected to stabilise, and employment expenses are moderating following the completion of the acquisition of the Altius business in late September 2024. We will also benefit from the full run rate of the improved commercial rate cards following our superannuation administration and custody transitions.

“We continue to focus on our growth strategy and will continue to enhance the maturity of our Investment Management platform, to support our growing business. The transition of our remaining super members from MUFG to GROW Inc is expected by the end of calendar 2025 rationalising and simplifying our administration arrangements.

“I’m excited about the period ahead of us. We are well positioned with a strong balance sheet, highly capable team, enhanced business platform, unique brand and deep ethical pedigree.”

——–

Notes:
[1] Underlying cost to income ratio is calculated as total expenses excluding UPAT adjusted expenses and excluding tax, divided by total revenue excluding UPAT adjusted revenue (excludes Foundation)
[2] Based on UPAt attributable to shareholders
[3] Net of fees and distributions
[4] Before deducting bonus and grant expense.

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APS founder and chairman, Chris Cuffe, welcomed Graeme to the board, saying, “Graeme’s enthusiasm for philanthropy and his extensive 41 years of experience with Ernst & Young (the last 28 years of which has been as a partner) specialising in financial services across wealth and asset management, superannuation, and life insurance will be invaluable as we continue to grow APS. We are thrilled to have him join our board.”

Graeme served as the chief operating officer for Asia-Pacific Financial Services at EY and was a key member of the EY Asia-Pacific FSO Leadership team, overseeing the financial and operational aspects of the organisation. He is a strong advocate for diversity and inclusiveness and through EY has provided pro bono auditing services to various charities over time.

“I have been engaged in philanthropy and with APS for many years,” Graeme said. “Structured giving is one of the most effective ways to grow philanthropy in Australia and generate much-needed funds for our community.”

Chris also expressed gratitude to retiring board member David Gonski AC for his significant contributions over the past 12 years as a non-executive director and for his contribution to the sector. As chair of the Prime Minister’s Community-Business Partnership’s Taxation Working Group, David was a pioneer of structured giving and key architect of private ancillary funds.

“David’s distinguished reputation, visionary contribution and steadfast commitment to philanthropy, have been tremendous assets to the APS board since August 2012,” Chris said. “His dedication to advocacy and commitment to developing the sector have played a crucial role in both the growth of APS as well as philanthropy in Australia overall. We are grateful for his long service and generous support and are pleased that he will remain closely connected to APS through becoming a Patron of APS and one of only four Members.”

Graeme joins existing Directors on the APS board:

• Chris Cuffe AO
• Belinda Hutchinson AC
• Gail Kelly
• Dan Phillips
• Jan Swinhoe
• Michael Traill AM
• John McMurdo
• David Ward

APS saw the establishment of 137 new giving funds in the APS Foundation and established over a third of all private ancillary funds created in Australia in the year to 30 June 2024, cementing its position as Australia’s leader in structured giving services.

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Fiona Reynolds and John McMurdo

Australian Ethical Superannuation has announced the appointment of Fiona Reynolds to its Board, effective July 2024.

Ms Reynolds was formerly CEO of the Principles for Responsible Investment (PRI), a UN-supported international network of socially and environmentally responsible financial institutions. She brings more than three decades of experience in responsible investing and superannuation to guide one of Australia’s fastest-growing super funds.

Australian Ethical Chief Executive Officer John McMurdo said, “We are delighted to welcome Fiona’s deep global expertise in responsible investment to the Australian Ethical Superannuation Board.

“The weight of consumer expectation on our sector is growing year on year, with most Australians now expecting their super and other investments to be invested responsibly. Our fund continues to grow in response to this demand. Having Fiona’s significant talents on the AES Board will help guide our approach and growth over the coming years.

Fiona Reynolds said, “I look forward to joining the board of Australia’s leading ethical superannuation fund.

“Australians deserve retirement security, and the assurance that their superannuation is being invested for the good of people, animals, and the planet. Where we invest our money matters, and I encourage every Australian to feel empowered by that.”

Chair and Non-Executive Director of Australian Ethical Superannuation Board, Steve Gibbs, said, “It’s with great pleasure that we welcome Fiona Reynolds to the AES Board. This appointment will bolster the Board’s advisory capability and adds credence to our ethical investment approach, which has been baked into our foundations since 1986.”

Ms. Reynolds spent nine years in London, growing the PRI to more than 4,000 signatories and 180 staff globally between 2013 and 2022.

She holds various leadership and advisory roles with FAIRR Initiative, the UN Global Compact Network Australia, Finance for Peace, and the Office of the NSW Anti-slavery Commissioner.

———
Notes:
[1] Top 10 growth in members and AUM, Super Insights Report 2024, Page 21. KPMG
[2] From Values to Riches 2024: Charting consumer demand for responsible investing, RIAA.

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John McMurdo

Australian Ethical Investment Limited (ASX: AEF) has announced it has entered into a binding agreement to acquire the sustainable fixed income asset management business, Altius Asset Management from Australian Unity.

The acquisition, when completed, will see Australian Ethical grow its funds under management (FUM) by circa A$2 billion, from $10.3 billion to circa $12.3 billion an increase of 19%.

The combined Australian Ethical and Altius fixed income capability will result in a sustainable fixed income team of seven, an expanded bond fund portfolio, and Australian Unity becoming one of Australian Ethical’s largest institutional clients.

The proposed acquisition is consistent with Australian Ethical’s strategy to serve the growing potential addressable market created by the structural drivers favouring responsible investing, and to offer super fund members and investors increased access to ethical investment capability.

Australian Ethical will pay Australian Unity $4.25 million in cash upon transaction completion, which will be subject to the satisfaction of Conditions Precedent (expected to occur in July), with an additional $1.25 million payable after completion, contingent on Australian Unity investment meeting certain transition steps and maintaining agreed minimum FUM targets. While at a lower revenue margin consistent with the fixed income asset class, this transaction will be EPS accretive from financial close and is expected to generate circa $1million of EBITDA in FY25.

Australian Ethical Chief Executive Officer John McMurdo: “The acquisition of leading fixed-income fund manager Altius is another important milestone for Australian Ethical as we scale and broaden our investment capability consistent with our strategy and Ethical Charter. Transactions such as this add to our momentum as a purpose-driven business and our ability to deliver sound investment returns while influencing progress towards a better future for people, animals, and planet.

“We are delighted to welcome the Altius team, their clients, and Australian Unity as a key institutional client partner. They join 130,000 investors and superannuation customers who have also chosen to invest ethically.”

Australian Ethical, CIO Ludovic Theau added: “This acquisition also signifies our ongoing commitment to work with like-minded organisations such as Australian Unity. We look forward to this being the first of many new investment initiatives, where Australian Ethical and Australian Unity can combine their leadership capabilities in ethical investment management and social impact best market practice.”

Altius’s Co-founder and Chief Investment Officer Bill Bovingdon: “We are excited by the opportunity to join Australian Ethical, the market-leading ethical investment platform, and to combine Altius’ deep expertise in responsible fixed income with Australian Ethical’s ethical investing heritage across asset classes.

“Naturally, clients will be at the centre of our considerations as we work closely with Australian Unity on a successful transfer of funds.”

Dr Joe Fernandes, Australian Unity Group Chief Investment Officer and Executive General Manager, Funds Management: “The transaction is an endorsement of the sustainable investment approach Altius and Australian Unity have built and refined for more than a decade, achieving continuity, additional scale and focus for the Altius business.

“The transaction with Australian Ethical aligns with Australian Unity’s strategy of partnering to accelerate its ambitions and focusing our commercial portfolio to areas where we can maximise impact.

Under the deal terms, Altius co-founders Bill Bovingdon, Chris Dickman and Gavin Goodhand, will join the Australian Ethical investment team under Chief Investment Officer Ludovic Theau.

The new capability, and combined investment team will continue to operate in line with Altius Asset Management’s Sustainability Policy and will be in line with Australian Ethical’s Ethical Charter.

Altius, as part of Australian Ethical’s expanded fixed income capability, will continue to oversee Australian Unity’s cash and fixed interest portfolios, as well as the other fixed income funds and mandates currently managed by Altius.

The transaction also includes an ongoing commitment by Australian Ethical and Australian Unity to work together. Australian Ethical looks forward to working in partnership with Australian Unity on further co-investment and product development opportunities.

Australian Ethical’s half year FY24 results and reaching a milestone $10 billion in FUM in March 2024, demonstrate that investment in the business is achieving growth and scale, supported by its strengthening business platform.

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John McMurdo

Managing Director John McMurdo said yesterday: “Australian Ethical is delighted to have achieved a significant milestone this quarter, with FUM reaching $10 billion.

“We’ve seen another quarter of positive flows due to continuing organic customer growth, increased superannuation guarantee contributions and strong investment performance.

This result points to the success of our growth strategy, which has seen us increase scale to serve the growing addressable market more effectively. We are continuing to deliver on Australian Ethical’s Theory of Change, the dual purpose of which is to help people, animals and the planet thrive, and our customers prosper through their choice of ethical investments.”

Funds under management

FUM reached $10.33 billion at 31 March 2024, up 7% from 31 December 2023, driven by positive net flows and strong investment performance.

Positive net flows

Positive net flows of $137 million were reported for the March 2024 quarter underpinned by solid superannuation net flows due to new customer growth and growing superannuation guarantee contributions.

Managed fund net flows were slightly positive, albeit impacted by continuing uncertain market and economic conditions.

Investment performance

Australian Ethical reported strong investment performance during the quarter of $531 million.

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Ludovic Theau will join the firm as Chief Investment Officer effective 3 April 2023. Ludo is the former Chief Investment Officer of the $30bn Clean Energy Finance Corporation. He has more than 30 years of investment management and investment banking experience across Europe and Australia with global organisations including Hastings, Westpac, ABN Amro, Macquarie, UBS and BNP Paribas.  He has deep experience in multiple asset classes including infrastructure, structured debt, public equities, private markets and private equity/venture capital. Ludo’s extensive international experience, and depth of knowledge in responsible investing makes him a perfect fit for the next phase of growth at Australian Ethical.

Australian Ethical’s Head of Asset Allocation, John Woods, has been promoted to the role of Deputy Chief Investment Officer and Head of Multi Assets. A registered CFA, John has 17 years of investment experience across asset allocation and prior to joining Australian Ethical in 2021, held senior investment roles at as well as strategy and portfolio management roles at CLSA, Macquarie Group, and IBM.

Alison George will commence in the new role of Head of Impact & Ethics effective 1 May 2023. Alison will lead Australian Ethical’s widely recognised and industry leading ethics research team and also be accountable for the ongoing development of the company’s impact framework and delivery. This will further ensure the company achieves maximum positive impact from every dollar of invested capital and from its significant advocacy and thought leadership agenda. Alison has more than 25 years’ experience across impact investing, ESG, sustainability and accounting services.  She has held previous senior investment and leadership roles at Regnan, Monash Sustainability Enterprises, Essential Services Commission and EY.

Head of Ethics Research, Dr Stuart Palmer, will step into the role of Ethical Futures Lead. In this new role, Stuart will focus on bespoke dedicated areas of research and analysis relating to the ethical investing landscape.

Managing Director John McMurdo said “Australian Ethical’s significant leadership and global reputation, enables it to attract and retain domestic and international candidates of the highest calibre.  The appointments of Ludo, John and Alison reinforce this position, and further enhance our leadership in ethical investing not only in Australia, but globally.”

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Michelle Wigglesworth

Australian Ethical has appointed Mellanie Lumby as General Counsel and Michelle Wigglesworth as Senior Equities Analyst.  

Chief Executive Officer John McMurdo said the appointments were in line with Australian Ethical’s commitment to attracting the best talent. 

“As more Australians seek responsible investment options they can trust, Australian Ethical is focussed on transforming into a larger and more impactful business. One of the most important parts of that is investing in the right people that will enable us to deliver the best possible results for our current investors as well as to scale up to meet the rising demand for ethical investing.” 

Ms Lumby’s role as General Counsel will see her leading the legal team at Australian Ethical. She brings extensive financial services legal expertise with specialist skills in funds management with 17 years of professional experience in both Australia and the UK. Ms Lumby has previously served in senior legal roles at AMP Capital Investors, Challenger Financial Services Group and Principal Global Investors. An admitted Solicitor in NSW, she also holds a Bachelor of Economics, Bachelor of Law and a Graduate Diploma in Applied Finance and Investment.  

In the role of Senior Equities Analyst, Ms Wigglesworth will work closely with Portfolio Managers to drive performance for Australian Ethical’s investors. She has more than 17 years of experience in funds management, with a background in conducting detailed fundamental research and valuation of Australian Equities. Ms Wigglesworth most recently served as an Investment Manager and Analyst at Washington H. Soul Pattinson and Milton Corporation. Her expertise covers ASX-listed banks, real estate, insurance, diversified financials and technology. She is a CFA Charterholder and holds a CPA and Bachelor of Economics. 

Commenting on Ms Wigglesworth’s appointment, Head of Domestic Equities Mike Murray said, “We are excited to welcome someone of Michelle’s calibre into our team.  She has a strong alignment with the values of Australian Ethical and is a seasoned investor with deep knowledge across multiple sectors. The team are looking forward to working with her as we build on our long term track record of performance oriented and true-to-label ethical investing.”    

The two new senior hires follow the recent appointment of Chief Technology Officer, Conrad Tsang in November 2022. 

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John McMurdo

Australia’s original responsible investment and super fund manager Australian Ethical has launched its first ever ETF, providing new access for all Australian investors to its award winning ethical investment capability.

The “High Conviction Fund ETF” (ticker: AEAE) is an actively managed portfolio of 20 to 35 companies primarily drawn from the ASX 300, that each meet extensive ethical criteria for investment based on Australian Ethical’s rigorous Ethical Charter.

It is one of just a small handful of actively managed ethical ETFs in Australia, and will only invest in a select group of companies that exhibit attractive investment fundamentals based on the team’s in-depth research process.

Mike Murray, Head of Domestic Equities of Australian Ethical, said: “The High Conviction Fund ETF is our first product in an increasingly important channel, to give all Australians investors access to our award-winning ethical investment and high-performance strategies. With rising demand for ethical investing, there is a growing need for access to authentic, true-to-label, and robust investment solutions across a range of different channels.

“Our first ETF leverages the combined depth of our ethical research and domestic equities capabilities, and seeks exposure to forward-looking industries such as renewables, healthcare, communications, and information technology. It targets a highly liquid portfolio of mid- and large-cap securities complemented by select smaller cap exposures that all meet our twin ethical and investment hurdles.

John McMurdo, CEO & MD of Australia Ethical, said: “Our investment team leverages over 35 years of proven track record and expertise as Australia’s original ethical investor. We are extremely proud of having some of the highest standards in the market for both our ethical portfolio and financial returns.

“Democratising access to ethical investment, through the release of products such as this ETF, is a very important part of our strategy.”

The ETF follows last year’s launch of the High Conviction Fund as a wholesale trust and complements a suite of domestic equities products that meet the growing demand for quality ethical investments with long-term capital appreciation. These have driven up Australian Ethical’s funds under management (FUM) 37.4 percent in 12 month from $5.05 billion to $6.94 billion as at 31 December 2021.

Angus Dennis has also recently joined Australian Ethical as an Investment Director to lead the institutional channel strategy. Angus was formerly the Institutional Sales Executive at Vanguard Australia, and has over 30 years of experience in institutional funds management and marketing.

The High Conviction Fund ETF is listed on CBoe Australia (formerly Chi-X) on Tuesday, 1 February 2022 from 10am.

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