CFS joins list of super funds pledging against tobacco investments
Colonial First State has become a signatory to the United Nations-endorsed Tobacco-Free Finance Pledge, joining the likes of AMP Capital, First State Super and LGS Super.
CFS’ head of investments, Scott Tully, said the fund’s commitment to the pledge was another step taken to support global action on the issue and ensure that members’ funds were invested in ways that had long-term positive environmental and social impacts.
CFS has pledged to no longer hold investments or invest members’ funds in companies associated with the production of tobacco and expected to be fully divested from those positions by 2020.
Recommended for you
Proposed legislative changes to safe harbour duty could result in advisers having reduced professional indemnity costs, a joint submission by seven major licensees said.
With 66 per cent of newly established advice licensees being sole advisers, what are the risks and legal ramifications to consider when taking the plunge into self-licensing?
Despite its popularity, only 1 per cent of financial advisers say they have often discussed cryptocurrency with clients, CoreData said, fuelled by concerns of heavy legal expenses if the product goes wrong.
AFCA and the CSLR have signed a memorandum of understanding as to how they will support an efficient financial services sector via the scheme.