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Scottish Widows to divest £1.5bn from tobacco stocks

The pensions provider announced on March 28 that it will divest £1.5bn as part of the updated policy.

Scottish Widows said the 10 per cent threshold will mean all tobacco manufacturers and major distributors will be excluded from its investment holdings, without hampering exposure to other companies that may derive a small amount of revenue from tobacco, such as supermarkets.

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