An open letter signed by 142 asset and wealth managers called on stockmarket indices to automatically exclude companies involved in the production of controversial weapons. Representing US$6.9 trillion in assets, the investors are asking for weapons including anti-personnel mines, cluster munitions, biological and chemical weapons and nuclear weapons to be removed. “There is a growing consensus among financial regulators, asset managers and end investors to invest responsibly. Excluding companies with any involvement in the production of controversial weapons is a key part of that,” the letter said. “The financial industry is in a position to make a huge difference to responsible investing, and that should include making funding less easily available for such companies.” Colonial First State is one of the first Australian companies to join 142 institutional investors who are calling for the exclusion of controversial weapons. Other large names like Credit Suisse and Pictet Asset Management also signed the letter that was sent to FTSE Russell, Morningstar, MSCI, S&P Dow Jones and Stoxx.

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