Nuclear weapons, tobacco, big oil? New tool lets you check your KiwiSaver's investments

A new online tool will allow KiwiSaver investors to see exactly what companies their money is being invested into. Photo/File.

Want to find out if your KiwiSaver fund owns shares in Google or maybe a nuclear weapons manufacturer? Now you can.

The government has launched a new comparison tool called Smart Investor which will allow investors to compare KiwiSaver, other managed funds, shares and bonds and see exactly what their money is buying.

Tom Hartmann, managing editor of money education website Sorted - run by the government's money education arm the Commission for Financial Capability - which will host the new tool, said people would be able to see exactly which companies their KiwiSaver or other managed fund was invested into to help them decide if their money was invested ethically.

They will also be able to compare fees and returns, he added.

"The tool will encourage greater transparency in the financial sector by revealing everything to consumers about where their money is going, and how well their provider is performing."

The site also offers guides on investing and definitions of jargon.

Hartmann said the aim was the break down the barriers to investing so all Kiwis could benefit from it.

The tool has been built b the Ministry for Business, Innovation and Employment, the Financial Markets Authority and the commission.

Scott McMurray, FMA acting director of investor capability, said the tool would help people make informed decisions about their investments.

"With all the relevant information in one place, investors can review a whole range of financial products.

"You can check how similar products compare with each other for fees and returns, and also find out where and how your money is invested."

Consumers do not have to put in any personal information to use the tool which will be updated daily.