Pension giant cuts tobaccoBY KANIKA SOOD | TUESDAY, 18 JUN 2019 11:53AM
A pension giant is offloading $73 million worth of investments in tobacco companies as its chief investment officer sees no future benefits for its members in the industry.
Read more: Amundi, ESG, Nest Retirement, Australia, Environment, Governance, Mark Fawcett, National Employment Saving Trust, Social, UK
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Insurance in superannuation is now opt-in only for new members under the age of 25 and those with low account balances, after the government's Putting Members' Interest First super reforms passed through the Senate yesterday.
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Brett Himbury, the chief executive of the $148 billion industry-super-owned fund manager, is stepping down after a decade in the role in a surprise announcement made this morning.
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