Trilogy International has attracted the interest of Australia's largest ethical investment fund which has lifted its stake in the scented candle and natural beauty products maker above 10 per cent.
Australian Ethical Investment increased its stake in Trilogy to 10.4 per cent from 9.4 per cent, the Melbourne-based fund said in a substantial shareholding notice to the NZX.
Demand for ethical investments has grown as consumers shun companies that don't heed the needs of the community, environment, animals or other issues, and seek out companies that support their values.
Australian Ethical Investment's ethical charter hasn't changed since 1986, saying it seeks out investments that support people, quality and sustainability and avoids investments that harm people, animals, society and the environment.
Last year, its funds under management grew above A$2 billion ($2.2b) as it had record inflows of new members and funds.