Equity Trustees has been appointed as the superannuation trustee of Future Super including Verve Super.
Both have their own niches in the super space with Future Super excluding fossil fuels and Verve Super focusing on ethical investment for women.
Established in 2014, Future Super, which includes Verve, has $1.8 billion in assets under management and more than 50,000 members.
Andrew Godfrey, executive general manager of superannuation trustee services at Equity Trustees, said: “We are pleased to be the new trustee for Future Super and are looking forward to working with the Future Super team across their contemporary range of impact superannuation services.”
He said Equity Trustees’ funds under supervision have risen 16 per cent in the last financial year to $44.8 billion. On the member side, it now has 631,000 super fund members which will increase further with the addition of Future Super.
Equity Trustees’ super trustee boards also saw two new appointments after the departure of Ellis Varejes on 30 June. Varejes had been with Equity Trustees Superannuation Ltd for nine years, having joined in 2014 and was also chair of the audit committee.
David Coogan and Steven Carew have now joined the boards.
Coogan is also a director of AvSuper while Carew is head of multiboutique platforms at Warakirri Asset Management.
Earlier this week, Verve Super launched a new ethical investing app with three ethically curated portfolios tailored around the needs and desires of female investors.
Verve CEO and founder, Christina Hobbs, said: “We’ve created an app that has 100 per cent ethical investments, that supports people to invest in line with their goals, and that is super simple to use but sophisticated behind the scenes and that seems to appeal to underserved women investors but also a broader community including men and non-binary investors who are looking for this service and couldn’t find it in market.”
