AMP's new local SRI paves the way for better analysis
The Responsible Investment Leaders Balanced Fund has opened the door for more robust measures of companies on the New Zealand stock exchange, according to Centre for Australian Ethical Research (CAER) chief executive Duncan Paterson.
"Since AMP fund came in, we can offer consistent research on the NZX 50" whereas prior to the fund, CAER only monitored around 10 New Zealand companies, Paterson told a conference in Wellington.
"The more (fund managers) that come in (to responsible investing) the more companies will receive requests for more disclosure" around social and environmental concerns, he said.
AMP's fund invests 60% in growth assets such as shares and property, and 40% in income assets, including cash and fixed interest, both in New Zealand and abroad. The fund aims to generate strong returns whilst maintaining responsible investment in its portfolio allocation.
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