Responsible Investment News

‘Staggering’ rise in demand for ethical investments

“This is a staggering increase and is a monumental development for New Zealand’s financial markets,” RIAA chief executive Simon O’Connor said.

More than half, 61 percent, of all managed funds in New Zealand were now invested responsibly, up from 2.5 percent in 2016.

That was largely due to the KiwiSaver providers pulling out of international index funds, like Vanguard which held stocks in weapon and tobacco manufacturers, to alternative funds that excluded them.

“It’s sent a message very loud and clearly to the investment industry that despite New Zealanders not actively choosing ethical investment options, it didn’t mean they didn’t expect their retirement savings to be invested in a way that does no harm,” Mr O’Connor said.

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