Responsible Investment News

Super Fund set to pull out of gun investments

A spokeswoman for the $41.2 billion Super Fund said it was reviewing its exclusion policy to ensure it was consistent with the Government's gun control legislation.

"We are working as quickly as possible to make this happen and expect that our internal processes will be complete by the time the Government's legislation is in place."

Prime Minister Jacinda Ardern has said the law change will be in place by April 11.

The spokeswoman said the fund had some small passive shareholdings in three American companies - by virtue of their inclusion in global market indices - worth $1.3 million in total.

Those companies are American Outdoor Brands, which owns Smith & Wesson; Sturm Ruger & Co; and Vista Outdoor.

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