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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Future Fund invested millions in tobacco shares

Posted on 16 October 2012

Leading health groups are calling on the Future Fund to divest itself of tobacco company shares, amid revelations it invested tens of millions of dollars in the sector as the Government was introducing plain packaging laws for cigarettes.
Information provided to a Senate committee shows the fund invested $37.8 million in tobacco shares between December 2010 and February 2012 to top up its existing holdings. The extra investment contributed to a more than 50 per cent increase in the value of its tobacco shareholdings, taking the total to around $210 million as at June 30………………………………………..Full Article: Source

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