ANZ has launched a new fund which excludes investments in companies involved in weapons and tobacco trade.
An investigation by the New Zealand Herald and Radio NZ last year found millions of New Zealanders had unwittingly invested in tobacco and weapons companies through KiwiSaver, sparking a public outcry and putting pressure on banks to review their investments.
ANZ's wealth managing director Craig Mulholland said the new international equities fund was tailored to reflect the changing view of New Zealanders on responsible investing.
"We recognise that investor attitudes to responsible investing will continue to evolve," Mulholland said.
"By having our own fund, under our own control, we will be able to respond quickly to any changes in investor sentiment, adding or divesting investments as appropriate," he said.
