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BNPP fund arm expands tobacco exclusion policy; sees complete by end-2018

Reuters - UK Focus

LONDON, March 1 (Reuters) - BNP Paribas Asset Management , the fund arm of the French lender, said it will exlude tobacco investments from all actively managed funds over which it has full discretion.

The exclusion, which already applies to the company's range of sustainable investment portfolios, is expected to be complete by the end of 2018, it said in a statement.

"BNP Paribas Asset Management is one of the first global asset managers to exclude tobacco from its mainstream investments, and as a leading player we are committed to being a responsible investor in all aspects of our business," Frederic Janbon, chief executive of BNP Paribas Asset Management, said. (Reporting by Simon Jessop, editing by Sinead Cruise)