JPMAM Australia says no to tobacco stocks
JP Morgan Asset Management (JPMAM) Australia will exclude tobacco stocks from its flagship multi-asset strategy, JPMorgan Global Macro Opportunities Fund, as sustainable investing has become an important factor for a growing number of Australian investors.
The move followed an earlier announcement after the fund said earlier it had excluded controversial weapons producers.
The fund is a part of a global macro thematic strategy with US$9.7 billion assets under management internationally while its Australian version was incepted in 2016 and now has A$246 million.
According to JPMAM, it aimed to capitalise on the major global themes driving asset class returns by investing in companies and other assets across sectors and regions which were considered to “have the potential to benefit from those themes.”
JPMAM Australia’s chief executive, Rachel Farrell, said: “ESG factors have become powerful tools in helping institutional investors assess the quality and risk profile of companies, to help ensure their investments are focused on sustained growth and profitability.”
Recommended for you
Financial advisers will have access to private equity investments run by WTW for the first time as it launches a pooled fund to provide savers with access to traditionally institutional assets.
Three solutions providers – Betashares, Franklin Templeton and Russell Investments – have all launched new ETF products, including one range which uses gearing to help build wealth.
Platinum Asset Management chief executive, Jeff Peters, has shared a progress update on its newly announced turnaround strategy.
There is a role for advisers using inflation-linked bonds in portfolios, according to AXA IM, as the possibility of higher inflation necessitating another US rate hike is not out of consideration.
