Socially responsible investment approach in place for MAS

Medical Assurance Society (MAS) today confirmed that its KiwiSaver Plan and Retirement Savings Plan have moved to a socially responsible investment approach with certification from the Responsible Investment Association of Australasia (RIAA), effective from 14 September 2017.  

MAS investment managers now actively screen portfolios to ensure there is no investment in companies whose principal business activity is the manufacture and sale of armaments or tobacco, or the exploration, extraction, refining or processing of fossil fuels. In addition, the funds will not invest in any utility that primarily burns fossil fuels. 

MAS Chief Executive, Martin Stokes, said the move was simply the right thing to do. “Since announcing this change, we’ve had considerable feedback from Members endorsing the new policy. We firmly believe this is the right approach for MAS, our Members, and our collective futures,” he says.

“In their professional lives, our Members are often dealing with the negative effects of tobacco and fossil fuels. We have the ability to target sectors where we’re able to make a difference to the wider community where our Members live and work,” he says.

Another direct benefit to Members has been the reduction in investment fund charges depending on the portfolio.  The screen has also been applied to MAS reserves, the money MAS invests to pay insurance claims and grow services to Members. 

“This is a significant moment in MAS’s history, and we are committed to working together with our Members to make a positive contribution to the wellbeing and sustainability of the societies we live in.” Mr Stokes said.