News Round Up

ASB's new sustainability fund, Greens call for more SRI funds, Liontamer extends offer period.

Monday, April 7th 2008, 7:53AM

ASB's new Sustainability Fund
ASB is giving Kiwis who want to invest long term with companies committed to sustainable activities the opportunity to do so.

The new Global Sustainability Fund will be offered to investors under the FirstChoice KiwiSaver Scheme and is currently the only true sustainability fund available to KiwiSavers.

"The aim of the Global Sustainability Fund will be to seek to achieve superior returns while focusing on investing in global companies that are committed in their business decision making and operations to minimising the social, economic, environmental, ethical and governance impacts of their businesses on society," said Greg McAllister, ASB's head of wholesale distribution.

The fund tracks the performance of up to 100 global companies, while investing in between 25 and 60 different equities at any one time.

Greens on the KiwiSaver case

The Green Party is calling for the Government to highlight KiwiSaver providers who offer responsible investment options, welcoming the announcement from ASB on its new Sustainability Fund.

The Greens are also calling on the Securities Commission to ensure that all KiwiSaver providers meet the new legal requirements to provide statements of their responsible investment policies, or lack of them.

"People invest money for the future, but what kind of future that will be depends on how that money is invested... By investing in companies that are making the world more sustainable, people can help make our future more sustainable, " says Green co-leader Russel Norman.

Liontamer's offer period extended
Liontamer have extended the offer period on its two latest funds, EMERGE Series 1 and GLOBAL Series 5, until the end of the month, 30 April 2008.

Liontamer says the extension is due to continuing sales activity at present and the disruption caused by the Easter holidays.

The offer period extension will give all advisers some extra time to chase up stragglers and get late applications in before the offer closes.

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