New Zealanders are encouraged to be conscious of the types of companies they want their money invested in.
Kiwi Wealth’s Joe Bishop tells RadioLIVE that a KiwiSaver fund could be invested undesirable industries depending on the provider and fund manager.
“There are lots and lots of grey areas that the fund managers must navigate,” Mr Bishop said, citing tobacco as a particularly grey area because the product is legal.
While responsible investing may not be black and white, Kiwi Wealth’s KiwiSaver scheme is certified as responsible investor.
Fund managers never invest in tobacco, controversial weapons, and whale meat processing.
“Kiwi Wealth is a big believer in full transparency,” Mr Bishop said.
With so many opposing ethical views, Mr Bishop emphasises that KiwiSaver investors should talk to their fund manager about where they want their money invested.