Ngāi Tahu seeds Pathfinder’s Responsible Investment Fund

Ngāi Tahu seeds Pathfinder’s Responsible Investment Fund

Ngāi Tahu supports the launch of Pathfinder’s new Responsible Investment Fund investing in global equities.

Auckland, 13 May 2017 – Pathfinder Asset Management, a boutique fund manager based in Auckland, has launched its Responsible Investment Fund for wholesale investors. Ngāi Tahu Holdings is the cornerstone investor supporting the fund.

The Responsible Investment Fund is an ethical and socially responsible fund, directly investing in global listed companies. The holdings also reflect Pathfinder’s “macro” views on different geographies and industry sectors.

The Responsible Investment Fund holdings are screened for revenue sources to exclude, for example, companies involved in gambling, tobacco and controversial munitions. Companies are also scored for environmental, social and corporate governance factors (ESG) which cover a range of issues including operational incidents, environmental impacts and product recalls. Screening is conducted by Sustainalytics, a leading global provider of ESG research and ratings. John Berry, CEO of Pathfinder, says the screening “ensures our investments align with the values we promote in our Responsible Investment Fund.”

Berry believes investors are ready for this unique ethical fund, saying “socially responsible investing is set to take off in New Zealand.

The investment process needs to go beyond the accepted practice of simply screening out “bad” revenues – it also needs to focus investment into companies that score highly on environmental, social and governance criteria.”

Paul Brownsey, Pathfinder’s Chief Investment Officer says “to launch the Responsible Investment Fund with Ngāi Tahu Holdings is exciting for us. Ngāi Tahu Holdings is a highly respected long term investor and are supporters of a socially responsible approach to investment. They are the perfect cornerstone investor for this fund.”

Mike Sang, Ngāi Tahu Holdings’ Chief Executive says “Pathfinder has developed a solution for managing our international equities exposure in a way that is consistent with our values as an organisation. We look forward to growing our relationship with Pathfinder as our exposure to global listed markets increases over time.”

The Responsible Investment Fund is initially only available to wholesale investors. However, Pathfinder will launch a retail version if there is sufficient demand from retail investors. Pathfinder is not a newcomer to responsible investment. This is their second socially responsible fund – the first being its specialised Global Water Fund which has had an average return of 12.2% per annum in the 5 years to 30 April 2017 (after fees and before tax).

About Pathfinder Asset Management

Pathfinder Asset Management is an Auckland based boutique fund manager. It manages 5 funds including the Responsible Investment Fund and Global Water Fund. For more information on Pathfinder, visit: www.pfam.co.nz.

About Ngāi Tahu Holdings

Ngāi Tahu Holdings is the investment arm of Te Rūnanga o Ngāi Tahu. It has successfully grown its capital base to in excess of $1.4 billion including investments in property, tourism, seafood, farming, aged care and a range of other private direct investments.

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