ASB KiwiSaver Scheme Growth Fund

Product Name

ASB KiwiSaver Scheme Growth Fund

Issuer

ASB Group Investments Limited

Category

KiwiSaver

Type

KiwiSaver

Target

Retail

Certified Since

2022

Asset Classes

Diversified / Multi-asset

Markets

New Zealand

Investment Approaches

Engagement and voting, Negative Screening

It Includes:

  • No inclusions5 No specific themes

It has some level of screening for:

  • Riaa icons 36 Armaments
  • Riaa icons 33 Fossil fuels

It fully excludes:

  • Riaa icons 52 Human rights abuses
  • Riaa icons 38 Labour rights violations
  • Riaa icons 35 Tobacco

Overview

1.1. Responsible investment means incorporating environmental, social and governance (ESG) considerations into investment decisions, to better manage risk and generate sustainable, long-term returns. 3.1. We will seek to understand the responsible investment needs of our customers. 3.2. We will reflect public awareness of responsible investment considerations and demand for responsible investment options through the development and delivery of innovative products and services. 3.3 Where consistent with our fiduciary responsibilities: (a) We will incorporate ESG considerations into our investment analysis and decision making processes. (b) We will incorporate ESG considerations into our active ownership policies and practices. (c) We will build the capacity of staff to understand and assess ESG risks and opportunities and will collaborate to enhance our effectiveness in implementing our commitments. (d) We will report on how we manage ESG considerations. (e) We will seek disclosure on ESG considerations by the entities in which we invest and the fund managers that we use. (f) We will promote acceptance and implementation of Responsible Investment considerations within the investment industry.


Description


Responsible investment means incorporating environmental, social and governance (ESG) considerations into investment decisions, to better manage risk and generate sustainable, long-term returns. We believe our customers’ investment interests are impacted by ESG considerations, and that the ESG landscape is continually evolving.  We engage in responsible investment to achieve the best possible financial outcome for our investors, and to ensure that we choose investments that are legal and align to the ethical and environmental values of our community.

To continue our responsible investment journey, we have been:

-          Embedding our new Environmental and Social Policy. This includes reviewing how we manage climate risk, protect human and worker rights, and uphold community values (to reduce social harm) within our portfolios
-          Implemented fossil fuel exclusion 31 August 2021
-          Assessing climate risks and opportunities across our funds
-          Planning to commence voluntary reporting in 2023 in line with the Taskforce for Climate-related Financial Disclosures (TCFD) in preparation for the introduction of mandatory reporting standards in 2024

Our thresholds applied to screens:

Controversial weapons; includes cluster munitions, anti-personnel mines, nuclear explosive devices, chemical weapons. No revenue tolerance applied. Captures parent companies with >50% ownership. 

Banned firearms (manufacture and/or sale of military style weapons to civilians); includes assault weapons, non-assault weapons (small arms), key components of small arms or small caliber ammunition. 0% revenue level. Captures parent companies with >50% ownership.

Tobacco; growing and production. 0% revenue level. Captures parent companies with >50% ownership.

Whale meat processing. 

Fossil fuel producers: captures companies with their primary business activity in the production of thermal coal, oil or gas, and/or companies who derive at least 10% revenue from the production of thermal coal, oil and/or gas. Metallurgical coal is not included in the term ‘coal’. 
 
Securities where the country of issue is the Russian Federation; captures securities listed on the Russian stock exchange and the American Depository Receipts (ADRs) and the Global Depository Receipts (GDRs) listed on other exchanges and Russian Rubles held with a Custodian. Some of the Funds have exposure to a small number of securities issued in Russia that are subject to sanctions and cannot currently be divested.
 
Global standards screen; companies that are assessed by our third part ESG research provider as violating one or more of the United Nations Global Compact principles, and related international norms and standards. 

Other products certified by the Responsible Investment Association Australasia (RIAA)

ASB Investment Funds Balanced Fund

ASB Investment Funds Conservative Fund

ASB Investment Funds Conservative Plus Fund

ASB Investment Funds Growth Fund

ASB Investment Funds Moderate Fund

ASB KiwiSaver Scheme Balanced Fund

ASB KiwiSaver Scheme Conservative Fund

ASB KiwiSaver Scheme Moderate Fund

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