Fintech targets millennials with green super fund

Fintech targets millennials with green super fund

Digital investment manager AtlasTrend is dipping its toes into the $2.9 trillion superannuation market, hoping to capitalise on demand from green-tinged millennials who want their assets managed in line with sustainable development goals.

The five-year-old fintech company will launch a retail superannuation fund this week called Elevate Super. AtlasTrend will promote the fund and Aracon Super, a subsidiary of ASX-listed Xplore Wealth, will as trustee and provide the APRA-regulated licence.

Elevate chief executive and AtlasTrend co-founder Kent Kwan said his research indicated that Australians had a strong desire for ethical investment and were distrustful of the incumbent providers following the Hayne royal commission.

“The movement towards sustainability is moving very fast. Superannuation has been on our drawing board for some time and we feel the time is now right,” the former JPMorgan and Macquarie banker said.

“More and more people are questioning being in a super fund that makes them a part-owner of companies that are not aligned with their values and that will occur across both retail and industry super funds.”

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Source: Fintech targets millennials with green super fund