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ASB Offers Sustainability Fund to Some KiwiSavers

Contributor:
Fuseworks Media
Fuseworks Media

Wellington, April 2 NZPA - KiwiSavers who want to add a "green"
touch to their investment can now do so through a fund being
launched by ASB.

The new Global Sustainability Fund (GSF) will invest in companies
committed to sustainable activities and practices long-term.

The investment manager for this new fund is Generation Investment
Management, established in 2004 by former US vice-president Al Gore
and former global CEO of Goldman Sachs Asset Management, David
Blood.

The GSF provides investors with access to a growth fund
comprising 100 percent global shares, all of which have an absolute
focus on sustainability, said ASB head of wholesale distribution
Greg McAllister.

The GSF option is available to ASB's FirstChoice KiwiSavers, not
those in their default Kiwisaver scheme. Investors will have the
option to transfer all or part of their savings into the new fund.

"Our Global Sustainability Fund is currently the only true
sustainability fund available to KiwiSavers," Mr McAllister said.

"Other funds may include some elements of sustainability, but
are more accurately described as ethical or socially responsible
funds."

ASB's research showed there was a growing interest in investing
in sustainability funds and this demand was not being met, he said.

The GSF would invest in global companies that were committed in
their business decision-making and operations to minimising the
social, economic, environmental, ethical and governance impacts of
their businesses on society.

Until now, to invest in a true sustainability fund New Zealanders
have had to invest directly offshore, Mr McAllister said.

A spokeswoman for ING, a key player in the Kiwisaver market, said
the company did not offer a fund that was specifically branded as an
ethical fund.

She agreed that some funds did offer a degree of sustainability
in their investments.

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