FAIR-FINANCE: MOST SOCIALLY RESPONSIBLE PENSION FUND CENTRAL EUROPE 2015
As a young man he was strongly influenced by a family that was split in composition between traders and educators. Mr Zeilinger was soon promoting the sale of fair trade products. Later on, his expertise in providing direct marketing advice to the financial services industry provided a roadmap to a successful career in the Austrian pensions industry.
However, by 2008 it was time for Mr Zeilinger to withdraw with a smile and concentrate on his vision for the development of a rather pleasantly different pension fund that has become known as fair-finance as a social responsible company which is not driven by profit maximisation. In fact, with the help of a stakeholder-oriented model the individual customer value is brought in line with additional socia 1 benefits.
The main focus of fair-finance is to invest in sustainable businesses and help further socialgoals -a full ten percent of the fair-finance budget is allocated to social projects. fair-finance has implemented sustainability (social, ethical, ecological, and economical) in all business units.
Perhaps unsurprisingly, there isa lang list of must-avoid investments fair-finance would never put money in, according to the „regulation of sustainabil ity asset management.“
Client costs are very low – 1.7 % administrative costs on regular payments and 0.6 % asset management cost. Fair-finance reduces the costs on regular payments as of 2016 to 1% after the Oth year of service. The main difference to all other Austrian provident funds is that fair-finance has low fees and offers a minimum guaranteed annual interest rate of 1.75 % for 2014 and 2015.
This is a fast growing company that looks set to succeed with distinction. fair-finance has received the gold certificate from the ÖGUT (Österreichische Gesellschaft für Umwelt und Technik) in 2014 for sustainability and is moreover the only provident fund that has been awarded with the Österreich isches Umweltzeichen (Austrian eco-label) for its whole portfolio.
As of this year, customers also participate in the company’s profit. Fully ten percent of the profit will be credited to their accounts annually.
Although the founder concedes that the model is not yet perfect, the CFl.co judging panel concludes that fair-finance is working in absolutely the right direction. The business approach pioneered by Mr Zeilinger may be regarded as a breath of fresh Austrian Alpine air. lt is with great pleasure that CFl.co confirms the award Most Socially Responsible Pension Fund Central Europe 2015 in the name of fair-finance.