Pathfinder Asset Management launches RI option
The fund has launched for wholesale investors, investing in global listed companies, with Ngai Tahu Holdings as the cornerstone investor.
The Responsible Investment Fund holdings are screened for revenue sources to exclude, for example, companies involved in gambling, tobacco and controversial munitions. Companies are also scored for environmental, social and corporate governance factors (ESG) which cover a range of issues including operational incidents, environmental impacts and product recalls. Screening is conducted by Sustainalytics, a leading global provider of ESG research and ratings.
“Most of the focus in New Zealand on responsible investing is exclusions... in our mind exclusions are very negative and don’t go far enough," said Pathfinder executive director John Berry.
He said it was better to focus on positively rewarding behaviours that the fund wanted to encourage.
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