With thermal coal and tar sands standing as two of the biggest contributors to climate change, Vision Super chief executive Stephen Rowe said the fund doesn't believe the risk of continuing to use them can be mitigated.
So far this year the number of units sold via en bloc stands at 2,900 worth S$10 billion, compared to 3,300 worth S$8.2 billion for the whole of 2017.
Locally-managed pension funds in China are traditionally stored in banks or used to purchase treasury bills with annual yields up to 2-3 percent, which were close to the so-called risk-free rate that is far below the market average and often depreciated d
Dexus is seeding the open-ended unlisted vehicle with assets from its existing industrial portfolio, including $1.4 billion of core logistics properties and a $138 million development landbank which will be worth $0.5 billion on completion.
While global equities have recouped some of their losses in recent days, markets such as China, Hong Kong and South Korea have all dropped into bear territory due to concern over slowing growth, sliding oil prices and a U.S.-China trade war.