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.”
AUTHOR
Oksana Patron
Recommended for you
Lonsec and SQM Research have highlighted manager selection as a crucial risk for financial advisers when it comes to private market investments, particularly due to the clear performance dispersion.
Macquarie Asset Management has indicated its desire to commit the fast-growing wealth business in Australia by divesting part of its public investment business to Japanese investment bank Nomura.
Australia’s “sophisticated” financial services industry is a magnet for offshore fund managers, according to a global firm.
The latest Morningstar asset manager survey believes ETF providers are likely to retain the market share they have gained from active managers.
