Vanguard is open to the possibility of producing a product that New Zealand KiwiSaver funds could invest in without risking exposure to ammunition manufacturers, Simplicity managing director Sam Stubbs says.
Stubbs has suggested the KiwiSaver industry should follow the Super Fund’s model of ethical and responsible investment, and impose the same filters and exclusions.
Stubbs’ own KiwiSaver funds use Vanguard ETFs, which have exposure to cluster bomb manufacturers.
He suggested that the providers could join forces to ask Vanguard to put together a product with the necessary exclusions in place.
He said Vanguard was taking the request seriously and thinking about what it would need to do and what demand there would be for such a product.
“The industry needs to speak with one voice to Vanguard on this. If we are united in our requirement, the provision of a solution is much easier for them. The industry needs to bury any competitive pettiness and unite around a solution which is clearly in the best interests of all KiwiSavers.”
| « Themed ETFs launched | Aucklander banned from financial services » |
Special Offers
No comments yet
Sign In to add your comment
© Copyright 1997-2024 Tarawera Publishing Ltd. All Rights Reserved