Australia, which has introduced some of the toughest anti-smoking laws in the world, invested AUD 147.7 million (EUR 107.1 million) in shares of tobacco companies to pay for politicians’ retirement, reports Bloomberg News.

The government’s Future Fund, which was established in 2006 to cover pension costs of retiring lawmakers, judges and public servants, held stakes in 14 manufacturers of cigarettes and tobacco products as of 31 December 2010.

The information were obtained by Bloomberg News through an Australian Freedom of Information Act request.

The Future Fund’s holdings include AUD 46.4 million in BAT, AUD 36.5 million in Philip Morris International and AUD 26.1 million in Lorillard. Its investment in tobacco companies represents 0.5 per cent of its holdings in equities. (pi)