AMP moves to exclude KiwiSaver investments in weapons

AMP has today announced it is excluding any direct investments in companies which are associated with the manufacturing of firearms and components banned under the amendment to the Firearms Bill.

Jeff Ruscoe, AMP’s Chief Client Officer, says “Like other KiwiSaver providers who invest through a range of underlying fund managers, AMP has indirect investments in some large global companies, including very small holdings in some civilian weapons manufacturers.

“Following recent tragic events in Christchurch, we have made the decision to exclude any investments through our fund managers in companies which are associated with the manufacturing of civilian weapons.

“This considered and appropriate approach is consistent with AMP’s responsible investment philosophy, which excludes investments in a range of companies on moral and ethical grounds. This is always under review to ensure investments continue to reflect AMP’s clients’ and community’s values, as evidenced by the action we have taken today.

“We are moving quickly to complete the divestment as soon as possible,” says Mr Ruscoe.

© Scoop Media