HESTA explained

HESTA
Type:Industry superannuation fund
Area Served:Australia
Key People:Debby Blakey, CEO
Industry:Superannuation
Foundation:1987
Location Country:Australia

HESTA is an Australian industry superannuation fund for workers in health and community service sectors. HESTA services more than 90,000 employers and has more than 950,000 members,[1] 80% of whom are women.[2] It has close to $68 billion in funds under management.[1] HESTA was formed in 1987. HESTA holds an Australian financial services licence.

History

HESTA removed all tobacco investments from its portfolios in 2013.[3] In 2015, HESTA sold its stake in Transfield Services citing evidence of human rights violations inside the offshore detention centres run by the sharemarket-listed company.[4]

Governance

HESTA is run by a Trustee company called H.E.S.T. Australia Limited. The Board of the trustee consists of six Directors appointed by employees, six Directors appointed by employers, an independent Director and an independent chair.[5] The CEO is Debby Blakey.

External links

Notes and References

  1. https://www.hesta.com.au/members.html HESTA - we’re an industry fund
  2. https://www.hesta.com.au/stories/super-leader.html HESTA - super leader
  3. Web site: Another super fund drops its investment in tobacco. 9 January 2013.
  4. Web site: HESTA dumps Transfield citing detention centre abuses. 18 August 2015.
  5. https://www.hesta.com.au/about-us/leadership.html leadership team