Powered by MOMENTUM MEDIA
moneymanagement logo
 
 

Super funds more supportive of non-proliferation

12 December 2016
| By Jassmyn |
image
image image
expand image

Superannuation and pension funds have been found to be globally more supportive of non-proliferation than banks, according to a report.

A report by PAX and the International Campaign to Abolish Nuclear Weapons (ICAN) on nuclear investment from financial institutions found globally there were eight super and pension funds that made it onto their ‘Hall of Fame' category, along with six banks, two financial services groups, and two insurance companies.

These firms were identified to have had comprehensive policies preventing investments in nuclear weapon producers.

Australian Ethical was the only Australian firm to make it on the ‘Hall of Fame' list as it did not invest in any nuclear associated companies and applied no revenue threshold for companies for manufacture of weapons, uranium mining, and nuclear generation.

However, the report placed ANZ, the Commonwealth Bank of Australia (CBA), Macquarie Group, and Westpac and 386 other financial institutions in their ‘Hall of Shame' category.

The report found the institutions made an estimated $7.23 billion available to 27 nuclear weapon producing companies since January 2013.

ANZ made the largest investment at $2.7 billion, followed by Macquarie at $2.6 billion, Westpac at $1.3 billion, and CBA at $573 million.

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...

6 hours 19 minutes ago

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

3 weeks 4 days ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

1 month ago

After last month’s surprise hold, the Reserve Bank of Australia has announced its latest interest rate decision....

3 weeks 6 days ago

ASIC has released the results of the latest adviser exam, with August’s pass mark improving on the sitting from a year ago. ...

3 days ago

While the profession continues to see consolidation at the top, Adviser Ratings has compared the business models of Insignia and Entireti and how they are shaping the pro...

1 week 4 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND