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Australian Ethical outperforms, amid growth in the sector

This little piggy is ethical and cleaning up

Australian Ethical Investment has achieved record investor members and record profits for the financial year ended 30 June 2014, in results that far exceeded expectations and appear to be part of surge of interest in clean and green investments.

According to Australian Ethical this success is part of a growing global movement dedicated to using the power of business to solve social and environmental issues.

Client numbers and net fund inflows are above expectations, managing director said Phil Vernon said.

“As a result we are at almost $1 billion in funds under management, our profit is strong and our share price has doubled in the past 12 months.”

At the same time 350.org and Market Forces this week launched the Super Switch tool to help investors manoeuvre away from superannuation funds with exposure to fossil fuels; and former director of GetUp Simon Sheikh and a cohort of supporters and financial backers including Simon Holmes a Court announced a new superannuation fund, Future Super, that promises to be ethical and fossil fuel free.

And Good Super superannuation fund based in Melbourne, which states its aims that its investments product positive social benefit, says it has notched up 11,000 members in 12 months.

Highlights of Australian Ethical’s financial results for the year ended 30 June 2014 include:

  • Record net profit after tax of $2.543 million, up 139 per cent
  • Record underlying profit after tax of $3.111 million, up 86 per cent
  • Record community grant of $302 million ($1.75 million in total since 2000)
  • Record revenues of $19.9 million, up 21 per cent
  • Full year ordinary dividend of $2.00 per share, fully franked
  • Operating expenses were $13.5 million, up four per cent
  • Record $887 million in group funds under management, up 25 per cent
  • Record net inflows of $92 million, with the previous period net inflow $1 million
  • Client numbers with superannuation membership growing by 19 per cent

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