Mindful Money Awards celebrates leaders

Cambridge financial advisers Moneyworks were named Best Ethical Financial Adviser at the Mindful Money Awards held in Auckland last night.

Thursday, June 13th 2024, 11:10AM

by Andrea Malcolm

The judges praised Moneyworks for integrating ethical issues throughout their client advice processes.

“They have a thorough and comprehensive approach to matching investment portfolios to client preferences, with innovative use of technology. They demonstrate a strong commitment to ethical investing, as shown by their B-Corp certification.”

Auckland-based Ethical Investing NZ received a commendation for demonstrating good processes for discussing ethical preferences with clients, encompassing family and community relationships.

“They provide clients with clear communications and good documentation, including information on what is excluded in portfolios and what is included,” judges said.

Best fund managers

Ethical investment specialist Pathfinder Asset Management picked up the most awards. It won Most Ethical KiwiSaver Provider and Best Ethical Investor.

The judges particularly welcomed Pathfinder’s increased investment in sustainable themes, such as renewable energy, and in positive impact companies.

Simplicity was highly commended in the Best Ethical KiwiSaver provider category. “They have carved out a unique role amongst KiwiSaver providers, combining a low fees range of funds with a strong commitment to deliver positive benefits through initiatives such as Simplicity Living, investments in social housing and renewable energy, and significant donations to charities,” judges said.

The Climate Venture Capital Fund was commended in the Best Ethical Investor category.

People’s choice

For the first time this year, members of the public voted for their favourite ethical investment fund. The award was dedicated to the memory of the late Rod Oram who was previously head judge at these awards and was honoured for his huge contribution to climate action and sustainability in Aotearoa New Zealand.

Pathfinder was the inaugural winner with Simplicity highly commended.

Best new entrants

Newcomer to the New Zealand market, Artesian won the Best New Ethical Fund award with their Artesian Green and Sustainable Bond Fund. The judges welcomed this innovative offering into the New Zealand market, with strong ESG credentials and an orientation towards sustainability themes. They noted that Artesian has a strong framework for measurement and reporting. The fund is marketed by Devon Asset Management in New Zealand.

The judges also commended the Betashares Global Sustainability Leaders Fund. They were impressed by their strong framework for avoiding harm and influencing companies through effective stewardship.

Oversea offerings

The Best Overseas Ethical Fund award honoured funds registered overseas but actively marketed in New Zealand. The judges commented on the high quality of all the entries, reflecting the depth of experience and expertise on ethical investing in the Australian market.

The winner was the Australian Ethical Australian Shares Fund. The judges commended Australian Ethical on the way it has embedded ethical investing across its business and investment processes. The judges particularly welcomed their reporting on the outcome of stewardship engagements, and the clear processes leading to divestment where sufficient change is not achieved.

A commendation was given to Pengana WHEB Sustainable Impact Fund. The judges were impressed by the process that the Pengana WHEB fund uses for stewardship and engagement, including a time-bound escalation process, objective milestones for progress, and regular reviews of the effectiveness of engagement. “The fund also sets a high standard for reporting on the positive impact from companies in their portfolio, along with excellent communications to financial advisers and clients.”

Impact

The award for Best Impact Investment Fund went to Purpose Capital. The judges were impressed by their place-based investing, responding to the needs of communities. “Purpose Capital makes strong contributions to the success of the companies they invest in.” The judges also acknowledged the importance of their collaborative processes, and the catalytic role that Purpose Capital plays in attracting other institutional funding.

Climate

The Best Net Zero and Climate Action Investor winner was Climate Venture Capital Fund. The judges were impressed by their significant contribution to the establishment and growth of companies in their portfolio, through providing climate expertise, impact measurement and commercial advice. “They are also playing a crucial role in building a stronger climate solutions sector in New Zealand. The fund has made strong progress since the last awards and the founders are now raising capital for a scale up fund.”

A commendation was given to Guardians of New Zealand Superannuation.

Radio New Zealand journalist Eloise Gibson won best media reporting on ethical investment for an article she wrote while at Stuff.

Mindful Money co-CEO Kate Vennell praised all award winners for continuing to push the frontiers of best practice for the New Zealand investment sector. “They show innovation and leadership in ethical and impact investing.”

Barry Coates, co-CEO of Mindful Money said the high quality of expertise of the 25 judges across eight judging panels was key to creating and maintaining a high degree of credibility.

Award	Winner	Highly Commended
Best Ethical KiwiSaver Provider	Pathfinder Asset Management	Simplicity
Best Ethical Investor	Pathfinder Asset Management	Climate Venture Capital Fund
Best New Ethical Investment Fund 2024	Artesian Green and Sustainable Bond Fund	Betashares Global Sustainability Leaders Fund
Best Overseas Ethical Fund	Australian Ethical Australian Shares Fund	Pengana WHEB Sustainable Impact Fund
The Best Impact Investor	Purpose Capital	Climate Venture Capital Fund
The Best Net Zero and Climate Action Investor	Climate Venture Capital Fund	NZ Super Fund
Best Ethical Financial Adviser	Moneyworks	Ethical Investing NZ
Best Media Reporting on Ethical Investment	Eloise Gibson	Greg Hurrell, and Steven Moe
People’s Choice Award for Best Ethical KiwiSaver Provider	Pathfinder Asset Management	Simplicity