Real ethical investors avoid more than just tobacco - 30 May 2006

30 May 2006

MEDIA RELEASE

With World No Tobacco Day to be held tomorrow (31 May), it is important to note that while many investors have rightfully recognised tobacco as an industry to avoid, many other socially damaging industries which go hand in hand with tobacco continue to be invested in.

Most Australians have money invested in managed funds or superannuation. However, many Australians may be shocked to find that their money could be invested with companies which produce socially damaging goods and services such as alcohol and gaming machines.

Most shocked may be those who invest with some so-called “socially responsible” fund managers who continue to invest in companies with large alcohol chains and major hotels and pokies holdings.

Australian Ethical avoids investment in products and services which have a harmful effect on society and which entice people into financial over-commitment. Rather than just being a boycott though, Australian Ethical also actively seeks out investment in companies whose activities contribute to human happiness, dignity and education.

Australian Ethical has not only been able to invest its funds in an ethical way, but its returns have been competitive with mainstream funds over the long term. This shows that we have been able to exclude companies with damaging activities and still produce competitive performance.

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For further information or comment please contact:

James Thier Executive Director, Australian Ethical Investment
Ph 0410 442 701 or 02 9389 6161