Deep green fund manager emerges
One of Australia’s specialist ethical fund managers is hoping that its presence in New Zealand will be a further catalyst to the growth of the sector.
Monday, May 19th 2003, 11:24PM
Australian Ethical is somewhat different in that it is at what Thier calls “the deep green end” of the investment spectrum, plus it invests in term deposits, small business loans and property as well as listed shares.
It focuses on the positive screening aspects of SRI which includes investments in businesses which “do good” such as those which are into renewable energy, waste management and education.
“Australian Ethical goes beyond the more common ethical investment practice of avoiding investment in repressive regimes, militarism, uranium mining, tobacco and alcohol production, gambling, rainforest/old growth logging, woodchipping, or animal exploitation. Its strong pro-active principles (codified in a Charter), provides investment support to environmentally and socially positive activities such as recycling, conservation, energy efficiency, preservation of endangered species, animal welfare, workplace relations and a range of related issues.”
Thier says the firm also differentiates itself by offering a number of funds including those which invest in Australian and New Zealand shares as well as international equities.
Currently the company has holdings in a number of New Zealand companies including Waste Management and the two Fisher and Paykels (Appliances and Healthcare).
He says if the company gathers more funds from investors in New Zealand then it is likely to buy more local stocks.
He admits that SRI has been slower to take off in Australia and New Zealand, than in the United States and Europe, but believes attitudes will change Downuder.
“We see (SRI) as a growth sector,” he says. “More and more people want to know what their money is doing.”
Overall, he has been pleased with how well Australian Ethical has been received on his visit to New Zealand.
Australian Ethical became a publicly listed company on the Australian Stock Exchange in December 2002. Australian Ethical currently has over A$205 million in funds under management.
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