Changes to BT Wholesale Australian Sustainable Share Fund
28 August 2017
Changes to BT Wholesale Australian Sustainable Share Fund (ARSN: 097 661 857)
Following a recent review of the BT Wholesale Australian Sustainable Share Fund, the fund name and sustainable and ethical screening process is changing.
Change of fund name
The name of the fund will change from BT Wholesale Australian Sustainable Share Fund to BT Sustainable Australian Share Fund (Fund) to align it with other funds in our sustainable range.
Implementation of additional screens
The Fund will add new screens to its sustainable and ethical screening process, which are to avoid investments in companies with material business involvement in the following activities:
> the production of tobacco or alcohol,
> manufacture or provision of gaming facilities,
> manufacture of weapons or armaments,
> manufacture or distribution of pornography,
> directly mine uranium for the purpose of weapons manufacturing,
> extraction of thermal coal and oil sands production.
BTIM considers that a company has a material business involvement in an activity if 10% or more of its total revenue is derived from that activity. We expect a 10% revenue threshold level to make a meaningful impact on excluding companies from the Fund’s investable universe that are considered to be ‘harmful’ or ‘controversial’ to society whilst allowing the Fund to be managed in line with its investment risk/return objectives.
BTIM believes the additional screens are in line with investors’ present expectation on how sustainable investments are managed and also demonstrate our commitment to a leading approach in responsible investing.
The product disclosure statement for the Fund has been updated to reflect the changes and is available on the Pendal website.
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PFSL is the responsible entity and issuer of units in the BT Wholesale Australian Sustainable Share Fund (Fund) ARSN: 097 661 857. A product disclosure statement (PDS) is available for the Fund and can be obtained by calling 1800 813 886 or visiting www.pendalgroup.com. You should obtain and consider the PDS before deciding whether to acquire, continue to hold or dispose of units in the Fund. An investment in the Fund is subject to investment risk, including possible delays in repayment of withdrawal proceeds and loss of income and principal invested.
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