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
Despite tariff challenges and a weaker US dollar, the investment manager remains optimistic that Asian markets, both big and small, stand to benefit.
The uncertainty surrounding US trade policy is weighing down global growth prospects, KPMG warns.
The US and Europe trade deal represents a significant step forward in resolving trade conflict, but markets have largely priced in the good news already, says the asset manager.
The Australian sharemarket is back to overvalued following the sharp rally since April, but many sectors still offer attractive stocks, according to the research firm.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
88.01 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
72.60 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
44.46 3 y p.a(%)
4
Pengana High Conviction Equities B
39.12 3 y p.a(%)
5
Pengana High Conviction Equities A
39.05 3 y p.a(%)
