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
The asset manager is bolstering its investments in the global energy transition and climate opportunities.
The ethical investment manager has reported record FUM as its growth trajectory continues apace.
The chief investment officers of UniSuper, HESTA, and TelstraSuper have elaborated on opportunities and risks that are top of mind when it comes to illiquid assets like private credit within their portfolios.
In an address to the National Press Club last week, the incoming chair of Australia’s sovereign wealth fund said institutional investors could play a role in the winding road towards net zero.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
73.88 3 y p.a(%)
2
Hills International
63.66 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
36.33 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
35.96 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.23 3 y p.a(%)
Add new comment