PM ‘not aware’ of fund’s Saudi link
Prime Minister Jacinda Ardern said she was not aware her KiwiSaver scheme was invested in companies which supplied weapons to the Saudi military.
Ardern ordered an inquiry into a deal under which Air New Zealand serviced engines for the Saudi Arabian navy, saying the deal did not pass the ‘‘sniff test’’.
The war in Yemen is recognised as an international humanitarian crisis, and Air New Zealand has now cancelled the deal with the Saudi navy.
But even as Ardern was speaking on the Air New Zealand deal, her ANZ KiwiSaver provider, in which she has had money since at least 2015, owned shares in Britain’s BAE Systems, and two United States companies, Textron and Raytheon, all three of which have supplied weapons to the Saudi military since Saudi Arabia became involved in the Yemen war.
‘‘I was not aware of this particular situation, but I understand ANZ has a review system for its investments and that it is taking another look and I think that’s a good thing to do,’’ Ardern said.
ANZ has now launched a review of its KiwiSaver fund holdings in the three companies.
‘‘Given the New Zealand public’s view on recent matters related to Saudi Arabia and their involvement in the war in Yemen, ANZ NZ Investments has a review under way of any holdings we might have with companies that may supply components to their military,’’ ANZ said in a statement.
It confirmed it had holdings in the three companies, but said other KiwiSaver providers also had investments in the three companies.
ANZ KiwiSaver had moved, like many others, to exclude investments in makers of socalled controversial weapons, including cluster munitions, antipersonnel land-mines, biological and chemical weapons, ANZ said.