TLDR Australia’s 20 largest super funds hold $14.8 billion combined in gambling-related investments AustralianSuper has the biggest exposure, at around $4.9 billion Gambling firms are rarely excluded from responsible investment screens, unlike tobacco or alcohol Australians lose an estimated $32 billion a year to gambling, the highest rate per person in the world The government is planning ad restrictions and extra funding for gambling harm support
A new report has found that Australia’s biggest retirement funds hold close to $15 billion in gambling company shares. The findings come from the Alliance for Gambling Reform, a campaign group focused on reducing gambling harm across the country.
The report looked at the 20 largest superannuation funds in Australia. Together, they hold an estimated $14.8 billion in gambling-related investments.
AustralianSuper has the largest exposure of any fund examined. Its gambling holdings total around $4.9 billion, more than double the amount held by any other fund on the list.
Australian Retirement Trust, Colonial First State, UniSuper and Aware Super round out the top five funds with the most money tied to gambling companies. One of the businesses receiving retirement fund investment is gaming machine manufacturer Aristocrat Leisure.
How Responsible Investing Treats Gambling
The report argues that many super funds promote responsible investment principles, but apply them unevenly. Tobacco and alcohol companies are often excluded from ethical investment options. Gambling companies are usually not.
Martin Thomas, chief executive of the Alliance for Gambling Reform, said many people are unaware their compulsory retirement savings help fund gambling businesses. He linked the gambling industry to financial hardship, relationship breakdowns and mental health problems.
The group is not calling for a ban on gambling companies. Instead, it wants super funds to reconsider whether the sector belongs in retirement portfolios at all.
The report notes that