The asset manager wasn’t truthful about its $1 billion ethical fund,the court ruled in a major win for the corporate regulator in its crackdown on greenwashing.
Colonial First State,Investors Mutual,Magellan,Platinum and Vanguard have scored “low” in an international study of ESG commitments.
The corporate regulator claims that Vanguard’s ethically conscious bond index fund may have been exposed to investments with ties to fossil fuels despite the company pledging to exclude these.
High-net-worth investors favour the shares of the big Australian listed companies,while shunning trendy investment themes.