Dutch asset manager Robeco has announced plans to ban tobacco-related investment from its mutual funds as part of its commitment to sustainable investing.
The ban was already in place for the firm’s sustainable funds. The scope of this exclusion will now be expanded to its mainstream fund range, including sub-advised funds.
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The exclusion will include companies involved in the production of tobacco or significant components of cigarettes. However, client-specific funds will remain unaffected by the move.
The divestment process is expected to be completed by the third quarter of this year.
Robeco head of investments Peter Ferket said: “Robeco has been at the forefront of SI since the 1990s and sees sustainability as a long-term force for change in markets, countries and companies. Given the significant international concerns about the risks posed by tobacco and in view of recent developments, such as the UN Global Compact’s decision, we think the time is ripe for excluding tobacco altogether.”
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