SRI grows in Australia

Responsible investment grew by eight per cent in Australia during 2007-08 from A$52.8billion to A$57.1bn ($33.2bn-$36bn, £23.8bn-£25.7bn), reports the Responsible Investment Association Australasia.

Core responsible investment funds under management actually fell by seven per cent during the year. That decline, however, compares with a nine per cent fall in total investment management of all types.

In New Zealand responsible investment assets are estimated to be NZ$15.35bn ($7.55bn, £5.4bn), two per cent more than the 2007 figure of NZ$15bn. This is largely attributable to the growth of the New Zealand Superannuation Fund, standing at NZ$14.12 billion, which has adopted an investment policy that includes avoiding prejudice to New Zealand’s reputation as a responsible member of the world community.