This week, Australian anti-gambling advocates unveiled a report that makes startling reading for anyone with a pension: the 20 largest superannuation funds in the country hold a combined US $10.3 billion in gambling stocks.
According to the report, the largest fund holder of gambling stocks is AustralianSuper, with $2.1 billion invested. Other major funds include QSuper, UniSuper, and HESTA. The report highlights the significant financial exposure that Australian pension funds have to the gambling industry, raising concerns among anti-gambling groups.
The revelations have sparked discussions about the ethical implications of pension funds investing in gambling companies. While some argue that it is a legitimate investment strategy, others criticize the funds for supporting an industry known for its social harms.
