Responsible investing

We do not invest in companies whose principal business activity involves fossil fuels, weapons, and tobacco. Principal business activity is defined in this context as activities that generate revenues of 10% or more of total company revenues, or 0% of total revenues for companies that produce or manufacture tobacco, exclusively produce alternative smoking products, or tobacco-based products, or manufacture controversial weapons including cluster munitions, chemical weapons, anti-personnel mines and nuclear explosive devices.

We do not invest in companies that generate any revenue from the production or manufacture of tobacco, tobacco-based products or exclusively produce alternative smoking products. We do not invest in companies that generate 10% or more of their revenue from the retail sale or distribution of tobacco products, licensing to tobacco products or the production and supply of essential products for the production of tobacco products. Tobacco products include, but may not be limited to, tobacco, alternative smoking products or tobacco-based products.

Controversial weapons: We do not invest in companies that generate any revenue from the manufacture of controversial weapons, including those prohibited under New Zealand legislation such as cluster munitions, chemical weapons, antipersonnel mines, or nuclear explosive devices. 

Military contracting: We do not invest in companies that generate 10% or more of their revenue from weapons systems, component and support systems, or weapons services. 

Civilian firearms: We do not invest in companies that generate more than 10% of their revenue from production, wholesale or retail sale of firearms or small arms ammunition intended for civilian use. 

We do not invest in companies involved in ‘very severe and ongoing controversies’ as identified by MSCI’s ESG Controversy assessment.

We do not invest in companies that generate 10% or more of their revenues from;

- the exploration, extraction, refining, or processing of oil, gas, or coal 
- the supply of equipment and services to oil and gas exploration
- oil, gas, or coal-based power generation.

Investments in metallurgical coal are approved exceptions to the MAS Responsible Investment Policy.  

As a shareholder of publicly listed companies, MAS has the right to vote on investors’ behalf (proxy vote) at shareholder meetings. We regard proxy voting as an important fiduciary responsibility. We endeavour to vote on all shareholdings via our proxy voting agent. Our ambition is to use shareholder voting rights to influence companies to conduct their business in a socially and environmentally responsible manner in accordance with our guiding principles for responsible investment. View the Proxy Voting Record below.

Engaging with companies to promote our ESG beliefs is an important part of our responsible investment approach. We may engage with companies to advocate for human rights, labour rights, anti-corruption, and the environment. Engagement activities are executed on our behalf by our agent according to our instructions. Companies are identified and engaged with in collaboration with other investment managers within the industry. Working with other managers enables us to leverage the collective shareholder influence of numerous investors and achieve greater impact than we could on our own. View the Engagement Report Summary below.

As a MAS Member, you also make a real difference through the MAS Foundation. Since 2019, MAS has contributed over $9 million to support more than 90 initiatives focused on health and wellbeing equity across Aotearoa.

We also partner with organisations that share our commitment to enhancing the financial wellbeing of New Zealand professionals, including our principal sponsorship of Hato Hone St John’s 3 Steps for Life programme.

Our specialist investment managers incorporate many factors into their decision-making process. This includes environmental, social, governance (ESG) factors.

MAS is a signatory to the UN Principles of Responsible Investment (UNPRI) and all MAS Scheme eligible funds* are certified by the Responsible Investment Association of Australasia (RIAA).

*The Responsible Investment Association of Australasia does not currently assess cash funds as part of their Certification Programme.

Funds in the MAS KiwiSaver Scheme and MAS Investment Funds are recognised as “Mindful” Mindful Money.