Fund managers question social media investments

Mike Taylor

The shooter live-streamed the attacks and then the video was circulated on social media sites, prompting advertisers to suspend their campaigns and telcos to call for better controls.

The NZ Super Fund, Accident Compensation Corporation, Government Superannuation Fund Authority, National Provident Fund and Kiwi Wealth are putting their investment heft behind calls for Facebook, Google and Twitter to take action following the live-streaming and sharing on social media of last week’s Christchurch terror attacks.

Together, the five public investors manage assets worth more than NZ$90 billion on behalf of New Zealanders.

Matt Whineray, NZ Super Fund chief executive, said the joint shareholder engagement would focus on ensuring that the companies concerned fulfilled their duty of care to prevent harm to their users and to society.