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Australian Catholic Super awards responsible investment allocation

Australian Catholic Superannuation & Retirement Fund, an A$8 billion ($6.1 billion), Sydney-based super fund, hired Australian Ethical Investment to manage its A$128 million Australian equities responsible investment option, spokesman for both sides confirmed Wednesday.

Phil Vernon, managing director of Australian Ethical, a Canberra-based boutique with A$2 billion in assets under management, in a news release cited his firm's "stance on no fossil fuels" and consistent performance as factors attracting Australian Catholic Super's attention.

The mandate had previously been managed by AMP Capital. A spokeswoman for AMP declined comment.