POWERED BY MOMENTUM MEDIA
First State Super campaigns against tobacco investment
First State Super chief executive officer Michael Dwyer joined world leaders at the United Nations headquarters to campaign against tobacco investments.
The super fund was the first major Australian fund to divest from tobacco in 2012, and has since banded with Tobacco Free Portfolios to encourage other financial institutions to follow suit.
Dwyer said the global community, across all sectors, has recognised it is time to take action on the issue, and the divestment has in fact made little impact in terms of member investment returns.
In commenting on the Tobacco Free Portfolios movement, Dwyer credited Dr Bronwyn King for her efforts in its initiation.
“The initial conversations we had in 2012, followed by her [King’s] actions and efforts have created a wave that has spread across the globe,” said Dwyer. “So far there are 85 financial institutions with assets of over $8 trillion that have signed the pledge.”
Recommended for you
The sovereign wealth fund grew $11.5 billion in the March quarter, according to its latest portfolio update, having previously voiced caution about inflation’s downward trajectory.
The property group, owned by industry super fund Aware Super, has announced two new projects with a total construction value of $320 million that will add more than 700 homes to Melbourne’s rental market.
While institutional investors, including super funds, unanimously acknowledge the energy transition as a significant challenge, their perspectives on the extent of their involvement in addressing the substantial capital requirements vary widely.
Despite a period of increased volatility, several considerations suggest that the bull market will remain intact and the trend in shares will remain up, an economist has suggested.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
62.62 3 y p.a(%)
3
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.95 3 y p.a(%)
4
Acadian Global Equity Long Short Class A
32.82 3 y p.a(%)
5
CFS FC Acadian Global Equity Long Short
32.44 3 y p.a(%)
Add new comment