Sam Stubbs launched a low-fees KiwiSaver fund called Simplicity. Photo / Doug Sherring
The founder of new low cost KiwiSaver provider Simplicity has called on the industry to work together to jointly adopt the ethical investment policies of the NZ Superannuation Fund, in the wake of revelations that some major funds are invested in weapons and tobacco companies.
Sam Stubbs, Managing Director of
Simplicity KiwiSaver said the policies of the NZ Superannuation Fund, which have been successfully developed over many years, are global best practice. It made sense to work together to follow that model, he said.
"All New Zealand Kiwisaver funds should be adopting these policies, which have been developed by a government entity, to give New Zealanders the assurance that the nation's superannuation investment is morally appropriate," he said.
The NZ Super Fund has a blacklist of companies making cluster munitions, manufacturing and testing nuclear weapons, tobacco, anti-personnel mines and whaling.
It was publicly available and the research was taxpayer funded, Stubbs said.
