By Rob Stock on The Post…
ANALYSIS: When Russia invaded Ukraine in 2022 KiwiSaver schemes quickly ditched Kremlin-linked investments even before sanctions were imposed.
Within weeks of the invasion, KiwiSaver managers including ASB, Westpac, Bank of New Zealand and ANZ had sold shares in Russian banks linked to the Kremlin.
The war in Gaza has been far less clear-cut for KiwiSaver scheme managers, and most say there has been little pressure from savers for them to respond.
Only one, Simplicity has made changes, announcing in November that it was selling out of three Israeli banks, a move it called a response to the developing situation in the Middle East.
KiwiSaver funds invest in shares in companies from round the world, as well as in sovereign bonds issued by countries like the United States, so when a conflict breaks out, they can find themselves facing a test of their responsible investment policies.
Read the full story (paywalled) on The Post here.
