Kempen Capital Management has decided to exclude all investments in the tobacco industry from its funds.
By the end of December 2018, all Kempen funds will be ‘tobacco-free’. The exclusion does not apply to mandates, bespoke investment portfolios and multi-management funds.
Lars Dijkstra, CIO of Kempen, said: “Sustainable investing is of essential importance to us as engaged shareholders with a long-term focus. We want to contribute to positive change, and excluding the tobacco industry from our investment funds is an excellent step in the right direction.”
Narina Mnatsakanian, director of Impact and Responsible Investment at Kempen, added: “Tobacco has a proven negative impact on society and many international standards support 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.”