Cryptos' Achilles Heel
Acadian examines the rise of attacks on cryptocurrencies and explains why they threaten the very core of an entire class of cryptocurrencies - those based on the “proof-of-work” paradigm, which includes Bitcoin.
At Colonial First State, we believe responsible investing is a long-term investment approach that takes into account the impact environmental, social and governance factors can have on investment outcomes.
Over the last few years, we have implemented a number of initiatives as part of a journey to strengthen our approach to responsible investing.
Most recently, we confirmed our support for an open letter from institutional investors calling on index providers to remove controversial weapons from global indices.
We are proud to be one of the first Australian companies to join 142 other institutional investors, representing US$6.9 trillion in assets, who are calling for the exclusion of controversial weapons from global investment indices. These weapons include antipersonnel mines, cluster munitions, biological and chemical weapons, and nuclear weapons.
Together with other asset owners, we are in a position to make a huge difference to responsible investing, which we know is something that many of our members value. We believe that active and passive investments should, by default, exclude controversial weapons.
This initiative reinforces our ongoing commitment to responsible investing – not just within our own investments – but also in helping to drive positive change in the broader market.
We believe wealth managers have a responsibility to allocate clients’ capital to productive purposes in the pursuit of sustainable long-term wealth protection and enhancement. As a result, we need to play an active role in understanding and applying ESG matters in investing, in order to earn and maintain the trust of our members, clients and stakeholders.
Colonial First State is committed to divesting from controversial weapons manufacturers by the end of this year. We are also a signatory to the Principles for Responsible Investments and recently became a signatory to the United Nations endorsed Tobacco-Free Finance Pledge.
In mid-September, Acadian examined how rising oil prices had caught forecasters off guard, and they considered the medium-term outlook for price levels and volatility. Subsequently, front-month WTI crude oil prices climbed to $76 per barrel, and then fell by over $25 to $50 per barrel as of November 23. What factors have driven the sell-off, and what are the implications for the longer-term outlook?
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Unless otherwise specified, this document has been prepared by Colonial First State Investments Limited ABN 98 002 348 352, AFS Licence 232468 (Colonial First State) based on its understanding of current regulatory requirements and laws as at the date of publication. While all care has been taken in the preparation of this document (using sources believed to be reliable and accurate), to the maximum extent permitted by law, no person including Colonial First State or any member of the Commonwealth Bank group of companies, accepts responsibility for any loss suffered by any person arising from reliance on this information. Colonial First State is the issuer of interests in FirstChoice Personal Super, FirstChoice Wholesale Personal Super, FirstChoice Pension, FirstChoice Wholesale Pension, FirstChoice Employer Super offered from the Colonial First State FirstChoice Superannuation Trust ABN 26 458 298 557. It also issues interests in the Rollover & Superannuation Fund (ROSCO) and Personal Pension Plan (PPP) offered from the Colonial First State Rollover & Superannuation Fund ABN 88 854 638 840. Colonial First State also issues other investment products made available under FirstChoice Investments and FirstChoice Wholesale Investments, other than FirstRate Saver, FirstRate Term Deposits and FirstRate Investment Deposits which are products of the Commonwealth Bank of Australia ABN 48 123 123 124, AFS Licence 234945 (the Bank). Colonial First State is a wholly owned subsidiary of the Bank. The Bank and its subsidiaries do not guarantee the performance of FirstChoice products or the repayment of capital from any investments. This document provides information for the adviser only and is not to be handed on to any investor. It does not take into account any person’s individual objectives, financial situation or needs. You should read the relevant Product Disclosure Statement (PDS) before making any recommendations to a client. Clients should read the PDS before making an investment decision and consider talking to a financial adviser. PDSs can be obtained from colonialfirststate.com.au or by calling us on 13 18 36.
From time to time, Colonial First State enters into alliance partnerships with dedicated and experienced investment specialists. Each alliance represents an agreement for Colonial First State to provide third party distribution services within the Australian Financial Services intermediary market.
Past performance is no indication of future performance.
Stocks and investment options mentioned are for illustrative purposes only and are not recommendations to any person to buy sell or hold these stocks.
Taxation considerations are general and based on present taxation laws and may be subject to change. Clients should seek independent, professional tax advice before making any decision based on this information. Colonial First State is also not a registered tax (financial) adviser under the Tax Agent Services Act 2009 and clients should seek tax advice from a registered tax agent or a registered tax (financial) adviser if they intend to rely on this information to satisfy the liabilities or obligations or claim entitlements that arise, or could arise, under a taxation law.