FMA calls out industry over ethical claims
A just-released FMA survey has revealed that 68% of New Zealand investors want ethical and responsible investments but few are putting their money where their mouth is.
Of this 68%, only 26% have actually chosen a fund manager based on its ethical credentials; 51% have not and 23% have looked into it but done nothing.
There appear to be multiple barriers.
“Investors were overwhelmed by technical jargon and often relied on a leap in faith in choosing an ethical investment,” says the FMA’s director of investment management, Paul Gregory. Others abandoned the search as “too hard” and did not choose an investment at all.
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