Your money in the Summer KiwiSaver scheme is “actively invested”, meaning we undertake deep and thorough research before making any investment decisions on your behalf.
While we consider socially responsible investing as a natural consequence of our investment philosophy and attitude to investing, we believe it is important to make clear our commitment, on your behalf, to socially responsible investing.
Responsible investment, including environmental, social and governance considerations, is taken into account in the investment policies and procedures of the Scheme as follows:
Before we make a direct investment for the Scheme, we assess whether, in our opinion, the relevant entity is directly engaged in any of the following activities:
If our assessment is that the entity is directly engaged in any of those activities, then we don’t make the investment.
We will make our assessment based on the framework made available by the NZ Super Fund (see www.nzsuperfund.co.nz/how-we-invest/responsible-investment). We will ensure that none of our direct investments are on the NZ Super Fund’s exclusion list because of engagement in any of those activities at the time of purchase.
If we make a direct investment and subsequently form the view that the relevant entity is directly engaged in any of the activities listed above, we will sell the investment in a reasonable timeframe. We will check our direct investments against the most recently published NZ Super Fund exclusion list at least monthly.
Before the Scheme invests into an underlying managed investment scheme that we don’t manage, we will consider the responsible investment framework for that scheme. We will seek to invest in underlying schemes with responsible investment frameworks comparable to ours, where we can do that without compromising our other investment objectives. At the end of each quarter, we will make available on this website a list of any of the underlying scheme’s direct investments (as are available to us) where we consider that the relevant entity is directly engaged in any of the activities above (based on the NZ Super Fund’s exclusion list at that time).
As at 30 June 2018 Summer Global Fixed Interest had an investment in NZX Smartshares’ Global Bond Fund.
At that date, the NZX Smartshares’Global Bond Fund had financial exposures to Northrop Grumman, Honeywell International, Lockheed Martin Corporation, Altria Group Incorporated, BAT International Finance, Imperial Brands Finance and Reynolds American Incorporated, companies that appeared in the relevant sections of NZ Super Fund’s Responsible Investment exclusion list (June 2018).
The combined exposures represented approximately 0.010% of Summer Global Fixed Interest’s investments. The exposures were the result of hedging transactions executed on a financial exchange and not companies specifically targeted by PIMCO, the investment manager of the NZX Smartshares’ Global Bond Fund.
Please refer to NZX Smartshares' Statement of Investment Policy and Objectives for further information on its approach to responsible investing.
If the Scheme invests into an underlying managed investment scheme that we manage, we will follow the process above for that scheme’s direct investments and investments into underlying managed investment schemes.
We are investment specialists – as part of Forsyth Barr we bring over 80 years of investment experience, and our Summer Investment Committee is chaired by Martin Hawes.
We are active managers – we respond to market opportunities.
Our performance speaks for itself – Morningstar ranked the Summer Investment Selection fund's returns 1st out of 53 funds in the Multisector - Balanced category for the 12 months to 31 July 2018. FundSource ranked the Summer Investment Selection fund's returns 1st out of 37 funds in the Diversified Balanced category for the 12 months to 31 July 2018.
We keep you informed – both about your money and the broader investment market.
We enable you – through access to Forsyth Barr Authorised Financial Advisers for guidance, and making it easy for you to make changes to your account.
Fund Manager of the Year Awards are announced by FundSource, the investment strategy and research company. These awards should not be read as a recommendation by FundSource. For further advice on the relevance of this award to your personal situation consult your authorised financial adviser, or visit www.fundsource.co.nz.