Ki­wiSaver fund re­jects fos­sil fu­els

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New Zealand-owned fi­nan­cial ser­vices provider Grosvenor Fi­nan­cial Ser­vices Group an­nounced re­cently that it has re­moved ex­po­sure to all di­rectly-held fos­sil fu­el­re­lated com­pa­nies within the two So­cially Re­spon­si­ble In­vest­ment (SRI) fund op­tions in the Grosvenor Ki­wiSaver Scheme.

Chief in­vest­ment of­fi­cer, David Beat­tie, said the changes re­flected both de­vel­op­ing trends in the SRI in­vest­ment world and feed­back from mem­bers of its SRI funds. “The global in­vest­ment in­dus­try has had an in­creased fo­cus on both re­spon­si­ble and eth­i­cal in­vest­ing, and many of our SRI mem­bers have told us that fos­sil fuel in­vest­ment is among their pri­mary con­cerns,” Beat­tie said.

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