Tobacco Free Finance Pledge list grows



The list of superannuation funds divesting from tobacco continues to grow, with Crescent Wealth pledging against tobacco investments at the UN General Assembly last week, in line with their Islamic-compliant investment approach.
The Islamic superannuation fund also urged global investment firms to adopt a higher tobacco-free standard: to not invest in companies that help distribute tobacco to customers.
“This is one of the reasons that Crescent Wealth does not invest in Woolworths and Coles, which also sells tobacco through its supermarkets and alcohol retail chain,” said director, Hilal Yassine.
“Those companies that transport, showcase and then sell tobacco, rather than just produce or manufacture it, are arguably just as responsible for the negative outcomes in our society.”
Yassine said firms needed to take a more holistic approach to divestment if the “scourge of tobacco” is to be rooted out, and perhaps invest in healthcare, property and infrastructure, utilities and innovative industries instead.
Recommended for you
The merger with L1 Capital will “inject new life” into Platinum, Morningstar believes, but is unlikely to boost Platinum’s declining funds under management.
More than half of the top 20 most popular shares bought by advised investors during the first half of 2025 were ETFs, according to AUSIEX data.
At least two-thirds of ETF flows are understood to be driven by intermediaries, according to Global X, as net flows into Australian ETFs spike 97 per cent in the first half of 2025.
Inflows for the first half of 2025 for GQG Partners stand at US$8 billion, but the firm has flagged fund underperformance could be a headwind for future flows.