Booster welcomes push for more hands-on Kiwi investors
Wellington, 25 June 2019
A new tool to help Kiwis become more engaged in their KiwiSaver investments has been welcomed by Booster Principal, David Beattie. Booster manages $1.7 billion worth of New Zealanders’ KiwiSaver funds and were immediately interested in Mindful Money’s new investment platform, which will help Kiwis choose investment funds that more closely align with their values.
Booster has been a leader in socially responsible investments, making it possible for Kiwis to invest in line with their values.
“We have been involved in this area for a long time so we are very interested in any new tools that help Kiwis be more actively involved in their investments. Once we heard about Mindful Money’s initiative we were keen to support in any way we could,” says Mr Beattie.
“All our core funds follow Responsible Investing principles and take into account environmental, social and governance factors. We also have a range of Socially Responsible Investment funds that additionally use values-based investment criteria.”
Booster was the first KiwiSaver provider to have KiwiSaver funds certified by RIAA, the peak industry body representing responsible and ethical investors across Australasia and is still one of only a few with certified funds today. It is also the only financial services provider to be accredited by Conscious Consumers (CoGo).
“KiwiSaver members get a bad wrap for being unengaged. That hasn’t been our experience entirely. Those of our members who are driven by socially responsible investing are very engaged. We hope the Mindful Money platform will help more people get more interested in what they are investing in,” says Mr Beattie.
“Recently we were the only New Zealand signatory to a global investor initiative calling for action on investment in controversial weapons. We were astounded that no other providers took part. We think the work Mindful Money is doing will play an important role in growing awareness that people can send a strong message using the power of their savings.
“It’s important that people are engaged with their money in every sense. That’s why we’ve launched a number of tools to help Kiwis do this, including our new automated budgeting tool, and Booster Tahi, a specialised investment fund which lets Kiwis invest in the New Zealand economy.”