Article 65T59 ‘Socially aware’ superannuation funds among those investing billions in gambling industry

‘Socially aware’ superannuation funds among those investing billions in gambling industry

by
Stephanie Convery and Ben Butler
from World news | The Guardian on (#65T59)

Analysis reveals Australia's biggest superannuation funds are investing huge volume of workers' retirement savings in casinos and poker machines

Australia's biggest super funds have poured more than $4.2bn of workers' retirement savings into the gambling industry - including pokies manufacturers, casino operators and lottery companies - even through investment options that claim to be socially aware".

Investors in Australia's biggest poker machine operator, Endeavour Group, which runs 12,539 pokies across 300 hotels, include the Socially Aware" option run by the nation's biggest fund, AustralianSuper, and the Sustainable Growth" option offered by the retail employee fund Rest.

Sign up for Guardian Australia's free morning and afternoon email newsletters for your daily news roundup

Continue reading...
External Content
Source RSS or Atom Feed
Feed Location http://feeds.theguardian.com/theguardian/world/rss
Feed Title World news | The Guardian
Feed Link https://www.theguardian.com/world
Feed Copyright Guardian News and Media Limited or its affiliated companies. All rights reserved. 2024
Reply 0 comments