Get a load of this from the AFR yesterday in a report highlighting objections to ESG investment returns being separately reported.
“Ethical superannuation fund options may rank poorly against traditional rivals in new performance tests of their returns and fees because they avoid investing in dirty yet lucrative industries and often cost members more because of their small size, the Australian Retirement Trust has warned”
WELL HELL-O
This was just a matter of time - the ESG funds have done ok for a few years because it was the new shiny place to be for righteous and the virtuous.…..but there’s been a bit of an awakening…..like…..squillions was invested in clean, green, holier than thou outfits that don’t make any freaking money.
Now we’ll see who the truly ethical investors are. Shouldn’t they still feel good about turning their back on the ‘dirty yet lucrative’ industries even though their returns are lower ?
You can’t have it all guys - you can’t start objecting to transparent reporting now that your ethical returns are starting to stink.
Suck it up.
WDS Price at posting:
$34.81 Sentiment: Hold Disclosure: Held
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