Super Fund, AMP exclude weapons

Companies involved in the manufacture of civilian automatic and semi-automatic firearms, magazines or parts prohibited under New Zealand law have been excluded from the $41 billion NZ Super Fund.

The move by the Guardians of New Zealand Superannuation, the Crown entity that manages the Fund, reflects the passing of the Arms (Prohibited Firearms, Magazines and Parts) Amendment Bill in Parliament

Under the Guardians’ Responsible Investment Framework, decisions about ethical exclusions take account of New Zealand law.

Chief executive Matt Whineray said the Guardians moved swiftly to review its exclusion policy and portfolio following the announcement of the Government’s intention to introduce gun control legislation.