CFS calls for weapons removal from global indices
Colonial First State (CFS) has supported the call for index providers to remove controversial weapons from global indices.
The firm, which confirmed its support for the move in an open letter to institutional investors would be one of the first Australian companies to join 142 institutional investors, representing US$6.9 trillion in assets, who were calling for the exclusion of controversial weapons from global investment indices.
The weapons included anti-personnel mines, cluster munitions, biological and chemical weapons and nuclear weapons.
“Together with other asset owners, we are in a position to make a huge difference to responsible investing, which we know is something many of our members value. We believe that active and passive investments should, by default, exclude controversial weapons,” CFS’s head of investment, Scott Tully, said.
“Responsible investment is a matter of stewardship and we continue to collaborate with external parties to deliver meaningful change throughout the investment value chain.”
CFS said it was on track to complete its own divestment weapons manufacturers by the end of this year.
AUTHOR
Oksana Patron
Recommended for you
With wealth managers and advisers having minimal capacity for fund research, a BNY report has found simple alternatives strategies from established providers are those which resonate best with that audience.
Platinum Asset Management has seen its third major client withdrawal this year, flagging a large client will redeem $580 million by November.
ETF provider BlackRock has redefined its underlying investment strategy for the iShares Future Tech Innovators ETF and almost halved the management fees as it continues its local iShares product suite review.
Natixis affiliate IML has launched an active ETF aimed at retirees and income-focused investors, while Loftus Peak has unveiled a hedged version of its Global Disruption ETF.
