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Ethical investing using Maori values; new multi-asset fund

Two, very different funds have hit the market last week. One a multi-asset fund the other an ethical fund built around Maori values.

Friday, November 1st 2019, 6:42PM 2 Comments

Harbour Asset Management has launched its Active Growth Fund due to a growing client demand for a multi-asset offering. The fund utilises some of the same research and processes as the Harbour Income Fund, but is designed for a slightly higher risk and return tolerance.

"It is designed as a standalone diversified fund, but we think the fund may also appeal to financial advisers and investors looking for a globally diversified active investment exposure. The fund targets a return of OCR plus 5% annually over rolling five year periods, and will pay monthly distributions. Over the longer term we would expect the fund to invest around 70% in growth assets, though this will be actively managed to respond to market conditions," the manager says.

The fund will use Harbour’s investment team to cover domestic asset classes, and utilise a handful of global specialists for global asset classes. This includes Baltimore based T. Rowe Price who Harbour formed a partnership with in 2014. T. Rowe Price have delivered consistent added value to investors since we’ve offered their global equity growth fund as an option to NZ investors. In addition, Edinburgh based Baillie Gifford and Pasadena based Western Asset Management will also be utilised.

The fund will be managed by Chris Di Leva, Harbour's Multi-Asset Specialist, who joined last year from Mercer where he was a portfolio manager.

World first fund

TAHITO is indigenous ethical investing using Māori values to guide its investment philosophy.

The TAHITO Trans-Tasman Equity Fund is a wholesale PIE fund managed by Clarity Funds Management, in partnership with TAHITO Limited as the investment adviser.

Creator Tem Hall says that “TAHITO is a unique way of measuring companies using Māori ancestral knowledge combined with conventional financial analysis. As awareness in climate change and sustainability intensifies the world is increasingly looking toward indigenous cultures, values and sustainability practices for solutions."

"We believe this is a world first," he says.

The TAHITO Fund is for wholesale investors, who want competitive market returns but equally would like to see their capital applied to a high ethical standard, and in investments that are making a positive social and environmental impact.

The fund uses ethical screens derived from Māori indigenous values. Māori values and ethics place people and the environment in high priority. This thinking falls out of the ancestral Māori worldview, which centres on the connection and interrelationship of all things.
The investment process measures ‘Aroha Connection’. We are measuring the transition of companies from the ‘substantive’, internally focused, very self-absorbed behaviours, to the ideal ‘relational’, externally
connected, collective behaviours. This requires ethically strong and committed governance with a clear drive toward sustainability to enhance financial returns.
Arguably it is the loss of connection that underpins the major issues we face across the world from climate change to loneliness. We believe that by re-connecting you can drive positive change in socio-economics, finance and all societal behaviours.”

TAHITO is the pōtiki (youngest member) of the Investment Services Group (ISG) whānau. ISG managers more than $5.5 billion in client funds.

Tags: Harbour Asset Management

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Comments from our readers

On 4 November 2019 at 1:50 pm John Milner said:
As I said on this platform last week, fund managers will be lapping up this ESG/Green trend. It’s been a long time in between drinks since any new marketing angles have come about. Time to hitch the wagon to this latest hysteria.
On 4 November 2019 at 5:06 pm JPHale said:
@John, Yup, find management not necessarily data driven or fact based, but run with it anyway. Sales and marketing at it's finest...

Not necessarily that helpful in reality, and has significant potential to hide increased fees as a justified result in a less than justified way.

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