New government fund to encourage investment in women-led enterprises
2 July 2020 at 5:02 pm
The fund will take a gender lens investment approach and use the private sector to help meet Australia’s developmental objectives
Perpetual’s Corporate Trust division has been appointed as the trustee team for a new federal government fund looking to promote gender equality and poverty alleviation in the Indo-Pacific.
The Department of Foreign Affairs and Trade launched the $40 million Emerging Markets Impact Investment Fund (EMIIF) on Wednesday. It will use a combination of investments and business support services to help grow small and medium enterprises in Australia’s region.
By taking a gender lens investment approach, the fund will encourage investment in women-led enterprises, as well as those offering products or services that benefit women, or which adopt gender-friendly workplace policies.
Perpetual Corporate Trust general manager Glen Dogan said the EMIIF was a new government approach that used the private sector to help meet Australia’s developmental objectives.
“We are seeing a growing interest in social impact funds across the private and public sectors. The EMIIF is the first such fund for the Australian government and we are delighted to be a part of this initiative,” Dogan said.
“We are proud to play a part in the operation of the fund, which will have a positive impact on gender equality, poverty alleviation and economic growth in the Indo-Pacific.”
Perpetual will provide the fiduciary and governance oversight for the fund’s investments, and partner with a consortium of international investment management firms and other suppliers to deliver the program.
The EMIIF’s initial focus will be on countries such as Cambodia, Indonesia, Laos, Myanmar, the Philippines, Sri Lanka, Bangladesh, Vietnam, Papua New Guinea and Fiji.