POWERED BY MOMENTUM MEDIA
STC drops tobacco
The board of the SAS Trustee Corporation (STC) has announced it will divest its holdings in tobacco product manufacturers.
It follows a review of the environmental, social and governance (ESG) merits of investment in tobacco.
STC will now instruct its managers to begin ditching tobacco holdings and will update its ESG policy to reflect the decision.
The pooled fund includes four closed NSW public sector superannuation schemes: State Authorities Superannuation Scheme (SASS); State Superannuation Scheme (SSS); Police Superannuation Scheme (PSS); and State Authorities Non-contributory Superannuation Scheme (SANCS).
The superannuation scheme manages more than 122,000 accounts and over $36 billion in assets.
In January, Hesta dropped just under $35 million in tobacco shares while Future Fund divested $221 million in February. Sunsuper followed suit in April, divesting $54 million in tobacco stocks.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
Super funds are recalibrating their strategies in response to evolving geopolitical dynamics and economic policy risks, with major players placing renewed emphasis on research, resilience, and diversification.
Australia’s sovereign wealth fund has added billions in value to the Future Fund over the last 12 months, a strong result given the turbulent market environment.
New research has shown that investing in alternative assets and using active management has, to this point, delivered strong results for Australian super funds.
Australia’s $4 trillion superannuation industry is fundamentally reshaping the nation’s external accounts, setting the stage for a more sustainable current account surplus despite weaker commodity markets.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
93.34 3 y p.a(%)
2
Global X GlobalX FANG+ ETF
36.96 3 y p.a(%)
3
GAM LSA Private Shares AU I
34.22 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.68 3 y p.a(%)
5
VanEck Video Gaming and eSports ETF (AU)
28.89 3 y p.a(%)
