Super fund pulls ESG mandate from AMP Capital

Super fund pulls ESG mandate from AMP Capital
Lachlan Maddock
10 March 2021
A $1.4 billion corporate super fund has pulled its responsible investment mandate from AMP Capital amid liquidity concerns and a slew of negative press.
Mercy Super has pulled its investment with AMP Capital’s Ethical Leaders Balanced Fund, citing concerns over liquidity following a number of other funds – including LGIAsuper and Legalsuper – redeeming their own investments. 
“In recent times, there has been negative press surrounding AMP Capital stemming from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry as well as inappropriate culture within their senior management team,” Mercy Super said in a note to members. 

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