IOOF Holdings Limited

The Australia Institute and Quit Nukes have assessed the policy and practice of IOOF Holdings Limited (IOOF). 

Information is valid as of November 2021. 

ABOUT IOOF

IOOF Holdings Limited (IOOF) is an es tablished Australian wealth management group providing financial advice, invest ment, superannuation and trustee services.


This analysis covers the superannuation products offered by IOOF as well as those recently acquired by IOOF: ANZ Smart Choice Super and MLC Wealth.

KEY FINDINGS

The Trustees for ANZ Choice Super, MLC Super and IOOF Super products should be made aware of the extent of investment in nuclear weapons producers currently being held by their numerous investment managers so that they are able to assess the risks.

The Trustees should consider that nuclear weapons production is an in stance that qualifies for exclusion, review holdings in nuclear weapons companies, and implement an exclusion policy for controversial weapons to ensure all companies that derive revenue from nuclear weapons are excluded, with a 0% revenue threshold.

Policy 

The super products assessed had inadequate policies on nuclear weapons. 

OnePath ANZ Smart Choice Super undertakes no screening for nuclear weapons producers and there does not appear to be
any plan for doing so in the future.

Although OnePath ANZ Smart Choice Super recognises that customers may have a preference for specific values-based investments, there is no certainty that this will be provided.

MLC Super undertakes no screening for nuclear weapons producers, but exclusions are reviewed annually.

IOOF recognises that there are instances where exclusion applies. This has occurred for tobacco but not for controversial weapons
or nuclear weapons.

Holdings

ANZ Choice Super, MLC Super and IOOF do not disclose their holdings

Read our detailed assessment of ANZ Choice Super, MLC Super and IOOF policy and practice in our 2021 report