Verve Super launches woman-focussed superannuation fund
Three women co-founders - Christina Hobbs, Zoe Lamont and Alex Andrews - have launched a new “ethical, community-minded” superannuation fund with services especially designed for women.
The fund welcomes “anyone who wants to feel part of a supported community of members committed to increasing their personal wealth, while using the power of superannuation to build a better and more equal world.”
Some of the services designed by women, for women, include free financial coaching materials and resources. The fund also invests ethically in companies which have a positive impact for women, and the broader community, and will only invest in companies that allow women into senior leadership roles. For example, if an otherwise ethical company has no women on its board, Verve Super will engage with the company but will remove that company from its investment portfolio if there is no change.
The fund is partnering with Future Super Fund Management for investment management.
For the fund's balanced growth option, investment fees are 0.3 per cent per annum, administration fees are $93.60 plus 0.79 per cent per annum, and there is a indirect cost of 0.1 per cent per annum.
The $93.60 annual administration fee will be waived for members with balances less than $1000, and will be rebated back into accounts of new parents on parental leave.