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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Australia’s Future Fund drops tobacco investments

Posted on 28 February 2013

Australia’s US$86 billion state pension fund will sell off its 222 million Australian dollar (US$228 million) of holdings in tobacco companies after considering the health problems caused by smoking. The decision by the Future Fund also comes after the government recently introduced tough new plain-packaging laws for tobacco products. The Fund’s move was widely expected after the Future Fund said in October it was reviewing its tobacco holdings.
This isn’t the first time the fund has changed its investment allocation on ethical grounds. In 2011, it sold its holdings in 10 defense companies that manufactured munitions such as cluster bombs and land mines………………………………………..Full Article: Source


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