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Kempen to exclude tobacco from funds

Tobacco exclusion, no smoking

Kempen director of impact and responsible investment Narina Mnatsakanian said in a statement that the decision had been made because tobacco had a proven negative impact on society and that many international standards supported this position.

“In the experience of Kempen’s investment staff, active shareholder engagement with the tobacco industry alone is not enough to drive the fundamental change required,” Mnatsakanian said, explaining the decision to exclude tobacco from its funds.

However, the firm said that the exclusion did not apply to mandates, bespoke investment portfolios and multi-management funds.

Jassmyn Goh

Jassmyn reported from Sydney to New York to Jakarta before joining Expert Investor. She was most recently Features Editor at Money Management and Super Review in Sydney.

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