
Asset Allocation
Oil Is the New Sin Stock, and That’s a Boost for the Sector, BCA Says
Some investors may be bailing out of their energy shares, but tobacco and its ilk show that can be a perverse plus.
Pension plan’s investment committee votes down a second attempt from member Jason Perez to reverse its 20-year-old ban.
Shares in tobacco, booze, gambling, and the like are suffering in the pandemic era.
UK’s largest pension plan will shun investments, like tobacco and coal, it deems ‘financially unsuitable.’
Move follows series of funds no longer interested in carrying tobacco-related investments.
AP2’s decision sees it keeping up with new laws, sister funds AP1 and AP4.
A report found CalPERS missed nearly $3.6 billion in investment opportunities from 2000 decision, but other divestments have worked in its favor.
Initiative calls on finance industry to tackle ‘tobacco epidemic.’