The New Zealand Superannuation Fund was established to save now in order to help pay for the future cost of providing universal superannuation. In this way the Fund helps smooth the cost of superannuation between today’s taxpayers and future generations. The New Zealand Superannuation Fund must manage and administer the Fund in a manner consistent with best practice portfolio management; maximising return without undue risk to the Fund as a whole; and avoiding prejudice to New Zealand’s reputation as a responsible member of the world community. The Fund is also required to develop ethical and voting policies and procedures which are incorporated into its Responsible Investment Framework. The Fund’s belief is that responsible investors must have concern to environmental, social and governance (ESG) factors because they are material to long term returns. The RI Framework includes ESG integration into investment analysis and due diligence, manager selection and monitoring, engagement, voting and exclusions.
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