By Rob Stock on The Post (paywalled)…
The guardians of New Zealand’s vast sovereign wealth fund have published a new responsible investment policy, and committed to reviewing its holdings in four companies that drew the ire of Palestinian protesters.
In April Maher Nazzal, Rawaa Elfhanafy and veteran activist John Minto secured a win in the High Court in which Justice Simon Mount ruled the investment policies of the Guardians of New Zealand Superannuation did not comply with its legal requirement to avoid prejudicing New Zealand’s international reputation.
Mount did not find that owning shares in Motorola Solutions, Airbnb, Bookings Holdings and Expedia Group did prejudice New Zealand’s international reputation, just that its policies did not provide an adequate framework to judge whether they did.
The Guardians oversee the New Zealand Superannuation Fund, which contains around $96 billion of investments to help fund the future costs of NZ Super.
Read the full story on The Post (paywalled) HERE.
