KiwiSaver taps into Gore fund
5:00AM
Thursday April 03, 2008
By Tamsyn Parker
Al Gore
KiwiSaver
- Bank offers enviro-friendly KiwiSaver fund
- Big week ahead for business
KiwiSaver investors are to be offered access to global climate-change guru Al Gore's sustainable investment fund through ASB's managed fund arm.
The Global Sustainability Fund is managed by US firm Generation Investment Management, a company co-founded by Gore and former Goldman Sachs Asset Management head David Blood in 2004.
Its investment approach is that sustainability factors - including economic, health, environmental, social and governance factors - will ultimately drive a company's share price over time.
ASB Group Investments head of wholesale distribution Greg McAllister said the decision to offer the fund to New Zealanders was based on a growing appetite for responsible investment products and the success of its launch in Australia.
Last year ASB sister company First State Colonial began offering the fund to Australian investors, and McAllister said it had already attracted A$15 million.
In New Zealand, the fund will be offered under the ASB's FirstChoice KiwiSaver scheme.
