Booster Financial Services has confirmed its commitment to seed a new global bond fund product.
The fund, issued and managed by Vanguard Australia, will exclude all investments in bonds issued by companies in a range of controversial sectors, including weapons, gambling, fossil fuels and tobacco.
Booster has committed at least $200 million to the new bond fund, which is expected to be launched in August. The fund complements the existing Vanguard International Shares Select Exclusions Index Fund, also seeded by Booster in 2016.
“To date, investors in Booster’s SRI funds have not been able to invest in global corporate bond funds, as they typically do not exclude companies involved in sectors such as alcohol, tobacco, gambling, pornography, fossil fuels and armaments. We know that New Zealanders are passionate about what their money could be supporting, and this new fund will provide Kiwis with the opportunity to invest in global bonds without compromising on their values,” said David Beattie, Booster chief investment officer.
“We have enjoyed a 15-year relationship with Vanguard, and working in partnership reflects the strength of that relationship. We are delighted to continue our work with Vanguard to ensure our core investment strategy aligns with New Zealander's values.”
Specific details of the fund are not yet available.
Booster is working with Vanguard to explore several other exclusion-type funds and positive ESG funds across a broad range of asset classes.
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