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ESG

Ostrum Asset Management to exclude tobacco companies in equity, bond funds

Ostrum Asset Management excluded tobacco companies from its equity and fixed-income investments, worth €241 million ($281 million), a spokeswoman at an affiliate company of Natixis Investment Managers said.

The exclusion represents 49% of Ostrum's 25 open-end funds with €491 million of assets under management that were invested in tobacco as of March 31.

Ostrum said in a news release Thursday it also will ask its clients to apply the exclusion policy to their dedicated funds and mandates.

"We will engage with all our clients and discuss with them to determine if they are ready to implement the exclusion in their dedicated funds and mandates where we are investment managers," the spokeswoman said, adding, "the exclusion will only be implemented once we have an explicit request from the client."