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
In this latest edition, Anna Shelley, CIO at AMP, shares the fund’s approach to current market conditions and where it continues to uncover key opportunities.
The mega fund has announced a $2.2 billion investment in a leading data centre platform, bringing its global real assets portfolio to nearly $60 billion.
In this latest edition, Australian Retirement Trust’s head of global real assets Michael Weaver explains the fund’s approach to finding new opportunities as it surpasses $300 billion in funds under management.
Fund managers remain hopeful for a Chinese revival story despite the “disappointing” stimulus package announced this week.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
