My Rant - continued 2 ...

A few more fund companies have got back to me. And, I've discovered a few more that are investing in companies that produce cluster munitions.

Also, even though I have requested the current government's position on whether or not investing in cluster munitions is illegal for Canadians, I'm not sure if I have much hope of the answer I would like.

The following article is one of the more complete ones I have come across recently -

Canadian firms invested in US cluster bomb makers, report says

Anyway, one of the larger fund companies in Canada responded to me saying they are compliant even though at least one of their funds holds an investment in a cluster munitions maker. I asked them to please put that in writing for me. They refused! What does that say about their convictions on how "compliant" they are?!

I have also discovered that some asset management firms (mutual fund managers) that are signatories to the UNPRI  also have holdings in cluster munitions producers. What does it actually mean to these investment management companies to be a signatory to PRI and yet still make this kind of investment? Are we just "ticking a box" now? Where's the commitment?

Yesterday's Walk - 5:55am; 5.3kms; 53mins; 17c & humid; clear

Today's Run - 6:05am; 5.9kms; 46mins; 22c, humid - and then it rained on me starting when I was furthest from my end point!

My Rant - continued

I wrote to seven fund companies asking for their position regarding investing in companies that produce cluster munitions - which I view as an illegal activity for Canadians due to the passage of Bill C-6 [2013-2014] that became effective Sept.1, 2015.

I have heard from one fund company so far. Their position is that they do not see any reason that they would invest in a company that manufacturers cluster munitions as it is unlikely to meet their investment criteria. Didn't exactly answer my concerns about whether they considered such an investment illegal or not. Disappointing.

For some information on cluster munitions you can visit www.clusterconvention.org or also www.minesactioncanada.org

Today's Run - 6:05am; 5.9kms; 47.5mins; 21c and humid; partly cloudy

My Rant

Okay, we're going off topic. But, this is something that grates on me.

Have you ever trusted someone that you thought would act properly and then suddenly caught them acting in a way that goes against your nature or values?

Well, that has happened to me recently.

PAX [ www.paxforpeace.nl ] released an update of their "Worldwide Investments in Cluster Munitions - a shared responsibility" in June, 2016. A couple of Canadian financial institutions were named/shamed. I did additional research (PAX had a minimum investment size for their report - I had none) and found more Canadian mutual funds that invested in a company that produces cluster munitions. Some of these fund companies I deal with.

I originally asked them informally about those investments. The responses I received were "disappointing". I have now asked for more official responses.

Why?

Because, in my opinion - based on the wording of the "Convention on Cluster Munitions" (signed by Canada in 2008), "Bill C-6 [2013-2014] An Act to Implement the Convention on Cluster Munitions" (passed by Canada's Parliament in 2014 and effective September 1, 2015), and the comments of various Members of Parliament and Ministers of the Crown during the passage of The Act through Parliament - investing in companies that manufacture cluster munitions is an illegal activity for Canadians.

We'll see how this progresses. Regardless, adhering to the "letter of the law" rather than the "spirit of the law" just to try to make a buck - especially on this issue - pisses me off!


Today's Walk - 6:05am; 5.4kms; 54mins; 17c; partly cloudy