Mindful Money Expands Ethical Fund List with New Additions

Highlights:

• New Additions to Ethical Funds: Mindful Money has added the Pathfinder Green Bond and Artesian Green and Sustainable Bond funds, increasing its recommended ethical funds to 47.
• Significant Market Presence: Mindful Managed Funds now make up 9% of all managed funds on the platform, with a total value of NZ$76 billion as of September 2023.
• Award-Winning and Highly Rated Funds: The Pathfinder Green Bond Fund won the Mindful Money award for the most ethical new fund, and the Artesian Green and Sustainable Bond Fund is a finalist for the best new ethical fund in this year's awards.

New Ethical Funds Introduced

Mindful Money has expanded its list of recommended ethical funds, known as Mindful Managed Funds, by adding two fixed interest funds: the Pathfinder Green Bond and the Artesian Green and Sustainable Bond. Both funds, about a year old, increase the total number of ethical funds to 47 on the Mindful Money platform.

Impact and Market Share

These ethical funds now comprise 9% of all managed funds listed on the Mindful Money website, which includes 502 funds totaling approximately NZ$76 billion as of September 2023. Additionally, there are 38 recommended KiwiSaver funds, making up 10% of all KiwiSaver funds by number and 9% by total value, amounting to NZ$109 billion as of September 2023.

Ethical Criteria

Mindful Money founder and co-CEO Barry Coates highlighted that both new funds meet the charity’s rigorous ethical criteria. These include avoiding harmful impacts, engaging in effective stewardship, investing in positively impactful companies, and demonstrating a commitment to ethical practices, such as reducing the climate impact of their investments.

Pathfinder Green Bond Fund

Launched in partnership with Affirmative Investment Management, the Pathfinder Green Bond Fund invests exclusively in bonds dedicated to green initiatives like clean transportation, water access, resilience to extreme weather, and renewable energy. Coates emphasized the fund's stringent criteria, which go beyond certification to include expert analysis by a globally recognized green bond specialist. The fund won the Mindful Money award for the most ethical new fund last year.

Artesian Green and Sustainable Bond Fund

The Artesian Green and Sustainable Bond Fund, marketed in New Zealand by Devon, focuses on green, sustainable, and social bonds, primarily targeting corporate bonds in Australia and New Zealand. The fund emphasizes projects with carbon abatement and social impact outcomes, earning the highest rating for fixed income from Australian Impact Investments.

Future Updates

Mindful Money’s data update for the period ending March 2024 will be finalized around June 20th, following the May 25th deadline for fund providers to file their data with the Companies Office. Coates noted that the Artesian fund is a finalist for the best new ethical fund in this year’s awards, reflecting its strong ethical credentials and positive impact orientation.

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