ABOUT BT FUNDS MANAGEMENT
BT Funds Management is a wealth management company that offers superannuation, insurance and investment products. It is part of the Westpac Group. Membership numbers and funds under management for the superannuation business are not readily available.
BT Funds Management should update the definition of controversial weapons to include nuclear weapons, regardless of where they are produced, ensure all companies that derive revenue from nuclear weapons are excluded with 0% revenue threshold.
BT Funds Management should adopt an investment mandate for external trusts, passive investments and exchange-traded funds to select options that exclude nuclear weapons, and divest from all current nuclear weapons holdings.
BT Funds Management has a very limited exclusion of nuclear weapons companies for internally managed investments. This
exclusion does not apply to the majority of nuclear weapons producing companies, and does not apply to their external trust investments.
BT Funds Management does not have an adequate policy to exclude nuclear weapons companies.
Examination of shareholder voting records show that BT Funds Management held shares in fifteen nuclear weapons-related companies in the 2020/21 financial year
Read our detailed assessment of BT Funds Managment’s policy and practice in our 2021 report.