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All Medibank investments now tobacco-free

AAP logoAAP 23/10/2016 Trevor Chappell

Private health insurer Medibank Private no longer has any investments in tobacco companies.

The private health insurer says had shifted $170 million of investments in international shares to a new tobacco-free investment fund launched by State Street Global Advisors.

Medibank's policy of excluding investments in tobacco companies has now been implemented across its entire $2.4 billion investment portfolio.

International equities was the last remaining area where the policy had to be applied.

The tobacco-free fund excludes more than 10 companies linked to either tobacco or controversial weapons.

"This decision is just good business sense," Medibank chief executive Craig Drummond said in a statement on Monday.

"Our mission for better health has to carry all the way through our business - from our employees and customers through to investments."

Cancer Council Australia says tobacco smoking is the largest preventable cause of cancer in Australia.

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