Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Simplicity KiwiSaver welcomes ethically focussed fund

Simplicity KiwiSaver welcomes new Vanguard ethically focussed fund


Nonprofit KiwiSaver manager Simplicity today announced its decision to fully adopt a new Vanguard fund that eliminates investments in nuclear weapons, other controversial weapons (eg. landmines, and cluster bombs) and tobacco.


The move follows Vanguard’s introduction of this option for NZ and Australian investors, also announced today.


Sam Stubbs, Simplicity’s managing director, applauded Vanguard for taking swift and decisive action in the face of growing demand for more ethical investment options in New Zealand.


“This fund reflects what Kiwis care about, and it’s satisfying that all our discussions have paid off,” he said.


"This response from one of the world’s largest investment managers shows that they have listened to the concerns of Kiwis and acted quickly to offer a solution. Hats off to them.” said Stubbs.


“It’s very satisfying to know this fund will be available to Australian investors too,” he said. “It’s another example of Kiwis leading the way,” he said. "It also shows how important KiwiSaver now is to offshore managers, including Vanguard, as KiwiSaver will be a $200 billion pool of savings by 2030,” he added.


“KiwiSaver is starting to give Kiwis a voice on the global investment stage, and here’s a prime example of that,” Stubbs said. “This helps make New Zealand a leader in the global change to ethical investing”, he said.


Simplicity had called for the industry’s adoption of the New Zealand Superannuation Fund's “blacklist” as a way to address public concerns. They arose following revelations that some KiwiSaver schemes were invested in cluster bombs and tobacco.


"The MSCI index that the new Vanguard fund tracks closely matches the NZ Super Fund blacklist, excluding the tobacco, nuclear weapons, and controversial weapons sectors.” Stubbs said.


Simplicity plans to use the new Vanguard fund for all its offshore share investments, and hedge them fully to the NZ dollar.


Stubbs said Simplicity was further committed to being an ethical operator by returning all profits to members, by having the lowest fees in the market, and by giving 15% of management revenues to charities annually. Simplicity is also a paperless business, minimising environmental impacts.


Stubbs said anticipated changes in fees disclosure and reporting requirements next year would be another significant step forward for KiwiSavers. “Investors can have real confidence that they know their investments are invested ethically, and soon find out what they really pay in fees,'’ he said.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Tourism: Employers Welcome Back Working Holidaymakers

Tourism businesses gearing up for the return of Australian visitors from next week will be relieved to learn that they will also have access to an offshore pool of much-needed job candidates, Tourism Industry Aotearoa says. Tourism employers around ... More>>

Commerce Commission: Latest Broadband Report Confirms Improved Performance Of Premium Fibre Plans

The latest report from the Commerce Commission’s Measuring Broadband New Zealand programme shows that the performance of Fibre Max plans has improved substantially. This follows a collaboration between the Commission, its independent testing partner, ... More>>

Air New Zealand: Capital Raise Deferred

Air New Zealand has decided to defer its planned capital raise to later in 2021 allowing more time to assess the impacts of recent developments on the airline’s path to recovery. 'We’ve seen some clearing of COVID-19 clouds recently, with ... More>>

Commerce Commission: Cartel Conduct Now Punishable By Up To 7 Years’ Jail Time

Cartel conduct can now be punished with a term of imprisonment of up to 7 years, after the Commerce (Criminalisation of Cartels) Amendment Act 2019 came into effect today. Cartel conduct includes price fixing, market allocation and bid rigging (see ... More>>

Stats NZ: New Report Shows Impact Of Demands On Land In New Zealand

A new environmental report released today by the Ministry for the Environment and Stats NZ, presents new data on New Zealand’s land cover, soil quality, and land fragmentation. The land cover data in the report, Our land 2021 , provides the most ... More>>

ALSO:

Stats NZ: March Card Spending Rebounds Despite COVID

There was a lift in retail card spending in March following a fall in the lockdown-disrupted February month, Stats NZ said today. Seasonally adjusted retail card spending rose by $53 million (0.9 percent), compared with February 2021. Visit our website to read ... More>>

PwC: Outcome Of Review Into Air New Zealand Gas Turbines Business

Air New Zealand has received the report into its Gas Turbines business from independent external advisers PwC. Air New Zealand Chairman Dame Therese Walsh says the report identified a range of effective controls in the Gas Turbines revenue contracting ... More>>