KiwiSaver funds still have exposure to nuclear weapons industry

24th Oct. 2019

Investments in companies involved with nuclear weapons still feature in dozens of KiwiSaver funds. ANZ, ASB, AMP, BNZ, Kiwi Wealth and Westpac were among those with funds still tainted with exposure to the nuclear arms industry, despite a growing number of New Zealanders saying they don’t want their superannuation funds invested unethically.

Mindful Money research shows some KiwiSaver funds still invested in nuclear weapons

By Rob Stock in Stuff 24 October 2019

Barry Coates, founder of Mindful Money, says its research showed that not only were KiwiSaver funds ANZ, ASB, AMP, BNZ, Kiwi Wealth and Westpac exposed to nuclear weapons investments, but so too were default funds, including those of Westpac, AMP, ANZ and Kiwi Wealth. The total exposure across the nearly $60 billion of KiwiSaver funds was just over $130 million with Coates saying the government should ban KiwiSaver default funds investing in companies profiting from nuclear arms.

Link: https://www.stuff.co.nz/business/116808852/kiwisaver-funds-still-have-exposure-to-nuclear-weapons-research-shows