Corporate social responsibility and fiduciary investment in Australia

Abstract

This chapter focuses on social responsibility investment (SRI) funds in Australia. It explains the investment strategies adopted by SRI funds in the furtherance of corporate social responsibility. Typically, the strategies of SRI funds can be characterized as socially sensitive or socially dictated and are defined as dual-objective strategies. It also discusses the legal framework for SRI funds, in particular the difficulty with accommodating them within the prudent investor rule that governs the management of all fiduciary investment products. The chapter also looks at the implications of SRI funds in the context of Australian law as well as to all jurisdictions whose investment management ..