AEF set to merge with industry fund Christian Super.
https://insideadviser.com.au/australian-ethical-to-bulk-up-with-potential-fund-merger/
However I believe it is only a MOU with member accounts moving to AEF so perhaps still in the early stages.
Reasons set below (quoted directly from the article)
These are assets and opportunities where an investor is seeking both investment returns, but also having a positive impact on the community or environment, or both. The deal highlights more collateral damage resulting from APRA’s performance test, which forces underperforming funds to either shut down or merge. Christian Super had performed poorly over the last few years for multiple reasons, whereas Australian Ethical, which is a retail rather than an industry/union super fund, had been near the top of most performance tables.
Disc: Held, but I did lighten a little when it went above 11+. I am aware it got wrecked the last few months as a result of their exposures to tech and pharma companies.