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The Australia Institute and Quit Nukes have assessed the policy and practice of NGS Super.

Information is valid as of October 2021. 


NGS Super is an industry super fund, targeted at education and community sectors. It has 115,000 members and $13.4 billion in funds under management.


NGS should include nuclear weapons in the definition of controversial weapons and ensure all companies that derive revenue from nuclear weapons are excluded, with a 0% revenue threshold. NGS should update its exclusion policy for clarity, and divest from all current nuclear weapons holdings.


NGS does not have an adequate policy on nuclear weapons.

NGS’ Active Ownership Engagement Policy states zero tolerance for companies that derive primary revenue from armaments and controversial weapons, but no detail on the definition of ‘controversial weapons’ is provided.

The NGS Socially Responsible Diversified option excludes companies that derive more than 5% of their revenue from the production or distribution of controversial weapons or armaments, but does not give detail on the definition of ‘controversial weapons’



NGS Super fully disclosed its holdings as of 30 June 2021 for its Indexed Growth option. This option revealed holdings in the 16 nuclear weapons producers.

NGS Super fully disclosed its holdings as of 31 December 2020 for its Socially Responsible Diversified investment option in a Portfolio Holdings Disclosure. This option had holdings in one nuclear weapons producer. 

Proxy voting records show that since 2020, NGS Super (not limited to the Socially Responsible Investment option) has invested
in four nuclear weapons producers. 

Read our detailed assessment of NGS Supernnauation policy and practice in our 2021 report