Student Impact Investment Fund
Australian Students Asset Management (ASAM) have launched a hedge fund, called the Student Impact Investment Fund.
The fund is a public ancillary fund with a company limited by guarantee as its trustee. All ‘investments’ are charitable donations, and no funds are returned to donors.
The fund, and ASAM, have been set up to “facilitate a link between university students and the funds management industry", according to ASAM's vision statement.
The fund will invest in environmental, social and governance (ESG) compliant firms, and donate 4% of assets under management to registered Australian charities at the end of each financial year.
It will employ an active strategy with no benchmark index, or minimum sector allocations, however it will not invest any more than 10% into one idea and 40% into any one GICS industry sector.