We consider environmental, social, and governance issues with every investment decision we make.
We identify opportunities and vote for positive change on ESG issues in organisations we invest in. And, none of our funds have direct or indirect holdings in companies producing tobacco or controversial weapons. We not only exclude companies based on what they produce, but we also exclude based on their behaviour and impact on people and the environment.
The investment approach we've taken provides a greater opportunity to generate better market returns. Our responsible investment decisions reflect good long-term business sense. Investors can feel good about doing the “right thing” without compromising potential returns.
Our New Zealand-based investment management team has control over which industries and companies our funds are invested in. Decisions about what is or isn't invested in is in our control, guided by our Responsible Investment Policy.
Our Responsible Investment Policy sets out how we will incorporate responsible investing principles and practices into our investment decisions. This includes decisions to invest in securities and decisions to appoint investment managers.
We make use of MSCI ESG Research and ISS ESG Research who provide us with in-depth research, ratings and analysis of the impact on the environment, social issues (like work conditions for employees) and governance-related business practices of thousands of companies worldwide. Their research provides us with critical insights that help us identify ESG risks and opportunities that traditional investment research may overlook.
Using the collective power of our investors we can use proxy voting to influence positive change on ESG issues in organisations we invest in. Through world-class research provided by ISS Governance, we identify opportunities and - where relevant - vote for change as a Socially Responsible Investor. This might mean voting against certain directors who are blocking progress on key issues, or voting for shareholder proposals that ask company boards to take action on specific ESG issues. Longer term, we think these votes make good sense both for achieving greater progress on real issues and for achieving stronger long term returns.
We focus our investment exclusions on three areas:
We exclude all companies involved in any of the following product areas from both direct and indirect investment.
We exclude any company involved with tobacco production, or where tobacco is the primary industry.
This category covers weapons such as cluster bombs, landmines, depleted uranium weapons, chemical and biological weapons, nuclear weapons. We exclude any company involved in the manufacture and production of controversial and nuclear weapons.
We exclude any company involved in the hunting of whales and the processing of whale meat.
We exclude companies operating in the most carbon intensive industries and with significant revenues from exploration and extraction of fossil fuels reserves.
We exclude any companies which exhibit highly objectionable behaviour, particularly in the context of human rights abuses, abuse of the environment, and endemic illegal activities (whether by national or local law).
These companies will be excluded from directly managed investments only, including where such investments may be made by another investment manager under an Investment Management Agreement.
The following industries are considered areas of sensitivity, due to their greater propensity to victimise people and/or the environment. Companies in these areas that are identified as performing poorly in key areas most likely to cause such victimisation will be excluded for direct investment only:
Companies producing and supplying defence equipment should have sufficient control against bribery and corruption, including improperly supplying such equipment to sanctioned countries.
Companies providing gambling services should mitigate the social impact of gambling addiction by implementing a suitable responsible gaming policy.
Companies using thermal coal to generate electricity should demonstrate sufficient commitment to transition to renewable generation.
Companies using nuclear reactors to generate electricity should demonstrate sufficient commitment to transition to renewable generation.
Companies producing or distributing palm oil should demonstrate sufficient commitment to preventing deforestation through observing RSPO and source tracing standards.
Our KiwiSaver, Managed Funds and Private Portfolios are all certified as Responsibly Invested.
All of the funds in the Kiwi Wealth KiwiSaver Scheme and Kiwi Wealth Managed Funds are certified by the Responsible Investment Association Australasia (RIAA). We’ve chosen RIAA to certify our KiwiSaver Scheme and Managed Funds as RIAA’s Responsible Investment Certification Program is the leading initiative for distinguishing quality, responsible investment products and services in Australia and New Zealand.
Being certified by RIAA means that investors have confidence that Kiwi Wealth has implemented an investment style and processes that systematically consider environmental, social, governance or ethical considerations and that Kiwi Wealth has met the strict operational and disclosure practices required by the Responsible Investment Standard.
Learn more about the RIAA and the responsible investment certification process.
Transparency is a core value of Kiwi Invest, here is what we invest in for each of the funds listed below in the Kiwi Investment Management Wholesale Master Trust and the Kiwi Wealth Master Trust:
Kiwi Investment Management Cash Fund
Full portfolio holdings - Cash Fund - March 2021 (PDF, 164kb)
Full portfolio holdings - Cash Fund - June 2021 (PDF, 170kb)
Full portfolio holdings - Cash Fund - September 2021 (PDF, 169kb)
Kiwi Investment Management Core Fixed Income Fund
Full portfolio holdings - Core Fixed Income Fund- March 2021 (PDF, 224kb)
Full portfolio holdings - Core Fixed Income Fund - June 2021 (PDF, 228kb)
Full portfolio holdings - Core Fixed Income Fund - September 2021 (PDF, 234kb)
Kiwi Investment Management Global Quantitative Fund
Full portfolio holdings - Global Quantitative Fund - March 2021 (PDF, 260kb)
Full portfolio holdings - Global Quantitative Fund - June 2021 (PDF, 216kb)
Full portfolio holdings - Global Quantitative Fund - September 2021 (PDF, 258kb)
Kiwi Investment Management Global Thematic Fund
Full portfolio holdings - Global Thematic Fund - March 2021 (PDF, 180kb)
Full portfolio holdings - Global Thematic Fund - June 2021 (PDF, 181kb)
Full portfolio holdings - Global Thematic Fund - September 2021 (PDF, 184kb)
Kiwi Investment Management Wholesale Core Global Fund
Full portfolio holdings - Core Global Fund - March 2021 (PDF, 497kb)
Full portfolio holdings - Core Global Fund - June 2021 (PDF, 484kb)
Full portfolio holdings - Core Global Fund - September 2021 (PDF, 484kb)
Kiwi Wealth Master Trust
Kiwi Wealth Fixed Interest Fund
Full portfolio holdings - Fixed Interest Fund - March 2021 (PDF, 223kb)
Full portfolio holdings - Fixed Interest Fund - June 2021 (PDF, 228kb)
Full portfolio holdings - Fixed Interest Fund - September 2021 (PDF, 234kb)
Kiwi Wealth Growth Fund
Full portfolio holdings - Growth Fund - March 2021 (PDF, 223kb)
Full portfolio holdings - Growth Fund - June 2021 (PDF, 560kb)
Full portfolio holdings - Growth Fund - September 2021 (PDF, 560kb)
*RIAA’s RI Certification Symbol signifies that a product or service offers an investment style that takes into account environmental, social, governance or ethical considerations. The Symbol also signifies that the funds above which are available in the Kiwi Investment Management Wholesale Master Trust and the Kiwi Wealth Master Trust adhere to the strict operational and disclosure practices required under the Responsible Investment Certification Program for the category of Product. The Certification Symbol is a Registered Trademark of the Responsible Investment Association Australasia (RIAA). Detailed information about RIAA, the Symbol and the Kiwi Investment Management Wholesale Master Trust and the Kiwi Wealth Master Trust’s methodology can be found at www.responsiblereturns.com.au, together with details about other responsible investment products certified by RIAA. The certification by RIAA expires on 16 March 2023. Kiwi Invest currently intends to reapply for certification prior to the expiry date.
The Responsible Investment Certification Program does not constitute financial product advice. Neither the Certification Symbol nor RIAA recommends to any person that any financial product is a suitable investment or that returns are guaranteed. Appropriate professional advice should be sought prior to making an investment decision. RIAA does not hold an Australian Financial Services Licence.