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
The $673 billion global investment manager has appointed a former Zenith sales head as it seeks to expand its reach in the Australian wealth management market.
Fund managers may be operating in a squeezed environment, but a salary guide shows they are willing to pay up for specialist talent to diversify their fund range.
Reach Alternative Investments has entered into a strategic partnership with Russell Investments to bolster its wholesale private markets offering for financial advisers and investors.
Boutique investment consulting and research house Genium Investment Partners has announced a senior appointment to drive further growth in its research ratings business.
