Getting started with investing
Investing is all about trying to get your money working hard so you can do the things that matter most.
Our responsible investment approach
Responsible investing means incorporating environmental, social and governance (ESG) considerations into investment decisions and ownership practices to better manage risk and generate sustainable, long-term returns.
We believe that investment risks, including ESG risks, are material to investment returns. We consider both risk and return outcomes when making investment decisions. Additionally, through ASB's exclusions process, we seek to understand and reflect the values of our customers.
Our responsible investment approach encompasses the following areas:
- ESG incorporation into investment decisions
- Stewardship
- Transparency
Responsible investment as a practice continues to evolve, and we are committed to the ongoing development of our responsible investment approach.
ESG incorporation into investment decisions
We incorporate ESG considerations into our investment decisions in several ways.
When selecting and monitoring an investment manager, we understand how ESG considerations are incorporated into decision-making and stewardship activities.
We also integrate ESG into our own investment processes, alongside risk and return outcomes. This includes considering the investment risks and opportunities arising from climate change. We seek to identify, assess and manage climate-related investment risks and opportunities using climate scenario analysis and by considering strategies that help mitigate risks or capture opportunities.
Exclusions
We currently seek to exclude investments in securities of issuers involved in the activities listed below. This is a summary of our exclusions and does not cover the full detail of our exclusion criteria. If you would like to see our full exclusions policies and definitions, see our Statement of Investment Policy and Objectives for the ASB KiwiSaver Scheme and ASB Investment Funds.
Our funds may invest in derivatives for risk management and investment purposes. Exclusions are not applied to derivatives. Derivatives may reference broad market indices, and so may result in indirect exposure to excluded companies and sectors.
Investment exclusions are complex and dependent on specialist ESG research. The research for this process does not cover all issuers across each of the asset classes that our Funds may invest in. The research across our Global Corporate Bonds and Global High Yield Bonds asset classes as at 30 September 2025 covers less than 50% of the respective benchmark and is subject to change over time. This may result in inadvertent holdings in securities we are seeking to exclude.
The iShares Exchange Traded Funds (ETFs) managed by BlackRock that are available via the ASB ETF Service are not subject to the below exclusions.
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Controversial weapons
Companies involved in the manufacture of, or that provide dedicated and/or essential components or services for anti-personnel mines, chemical and biological weapons, cluster weapons, depleted uranium, and nuclear weapons1. -
Civilian firearms
Companies involved in the manufacture, sale, retail and/or distribution to civilian customers of assault weapons or small arms, and the manufacture and sale of small arms key components to civilian customers2. -
Fossil fuel producers
Companies with their primary business activity3 in coal, oil & gas exploration and production, oil & gas equipment & services, oil & gas drilling, or integrated oil & gas.
Companies which are involved in the exploration and extraction of thermal coal, or oil and gas, and derive at least 10% combined revenue from all of their exploration and activities are also excluded4. -
Whale meat
Whale meat processing2.
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Tobacco
Companies that manufacture tobacco products, or that supply tobacco-related products or services such as pipes, vaping or e-cigarette devices, or rolling papers, and companies that distribute their own label tobacco products2.Tobacco retailers are not excluded.
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Russian Federation securities
Securities issued by Russian Federation domiciled entities, where the country of issue is the Russian Federation.Some of the Funds have exposure to a small number of securities issued in Russia that are subject to sanctions and cannot currently be divested.
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Global standards screening
Companies that are assessed by our third party ESG research provider as non-compliant with one or more of the United Nations Global Compact principles. Incidents related to certain territorial disputes are not included in the global standards screening. -
One-off exclusions
Securities excluded for exceptional reasons such as strong customer consensus objecting to the nature of the issuer's activities or where the issuer's activities do not align with ASB's values or policies.Currently, there are one-off exclusions in place for securities issued by the State of Israel and Motorola Solutions.
- Captures companies that derive any revenue from the relevant activities and companies with a significant (greater than 10%) ownership in an involved company.
- Captures companies that derive any revenue from the relevant activities.
- Primary business activity, as identified by our third-party ESG research provider.
- Exploration and extraction of oil and gas includes the sub-categories of Arctic Oil & Gas Exploration, Oil Sands Extraction, and Shale Energy Extraction. Metallurgical coal is not included in the term "coal". When companies do not disclose whether their coal involvement relates to thermal or metallurgical coal, the activities will be classified as thermal coal and subject to exclusion on that basis.
Stewardship
As a long-term investor on behalf of our customers, we seek to be an active and responsible steward of the assets in which we invest. Our stewardship activities are intended to protect and enhance overall long-term value. This includes engaging with companies and exercising voting rights on matters such as strategy, board structure and effectiveness, remuneration, and climate risk management.
Engagement and voting
When you invest with ASB, our underlying investment managers use your funds to buy shares in different companies.
Those investment managers actively engage with companies as shareholders. They vote at shareholder meetings on our behalf, and use those votes to encourage companies to adopt more responsible and sustainable practices.
To find out more about our approach to stewardship, you can read more in our Stewardship Report.
Our investment managers disclose their engagement and voting activities and outcomes on their websites:
Our commitment to responsible investing
We collaborate with others, including our investment managers and industry organisations to evolve our policies and processes for responsible investing and to address systemic ESG challenges.
Signatory to the Principles for Responsible Investment. This commits us as an organisation to enhancing our responsible investing practices, and contributing to developing a more sustainable global financial system and the PRI reporting requirements.
Membership with the Responsible Investment Association Australasia (RIAA). RIAA champions responsible investing and a sustainable financial system in Australia and New Zealand. Through RIAA we participate and collaborate in working groups to build responsible investing knowledge and understanding.
Our diversified funds in the ASB KiwiSaver Scheme and ASB Investment Funds have been certified by the Responsible Investment Association Australasia (RIAA) according to the strict operational and disclosure practices required under the Responsible Investment Certification Program. See www.responsiblereturns.com.au for details.*
We are a Founding Signatory to the Aotearoa New Zealand Stewardship Code. This commits us to adopting and embedding the Code into our stewardship practices and publishing a stewardship report annually. See our most recently published stewardship report here.
Transparency
It's your money, so you need to be able to see where it's invested. We publish our full portfolio holdings every six months - you can find the holdings using the links below.
We also publish a list of our excluded investments, see Exclusions above.
ASB KiwiSaver Scheme and ASB Investment Funds Climate Statements exemption notice
ASB KiwiSaver Scheme
The climate statement for the ASB KiwiSaver Scheme for the year ended 31 March 2025, prepared under Part 7A of the Financial Markets Conduct 2013 and the Aotearoa New Zealand Climate Standards, was delivered for lodgement on the Climate Related Disclosures Register on 29 July 2025, and is available from the Climate Related Disclosures Register at https://www.companiesoffice.govt.nz/all-registers/climate-related-disclosures/ (search for ASB Group Investments Limited). It is also available here.
ASB Group Investments Limited has relied on the exemption in clause 11 of the Financial Markets Conduct (Climate Reporting Entities in Liquidation, Wind-up, or External Administration) Exemption Notice 2024 in respect of the Positive Impact Fund (which was previously a fund within the ASB KiwiSaver Scheme) and the year ended 31 March 2025. This exemption is available because the dissolution of the Positive Impact Fund was completed during the year. As a result, ASB Group Investments Limited is not required to include information in respect of the Positive Impact Fund in the climate statement for the ASB KiwiSaver Scheme for the year ended 31 March 2025.
ASB Investment Funds
The climate statements for the ASB Investment Funds for the year ended 31 March 2025, prepared under Part 7A of the Financial Markets Conduct 2013 and the Aotearoa New Zealand Climate Standards, were delivered for lodgement on the Climate Related Disclosures Register on 29 July 2025, and are available from the Climate Related Disclosures Register at https://www.companiesoffice.govt.nz/all-registers/climate-related-disclosures/ (search for ASB Group Investments Limited). They are also available here.
ASB Group Investments Limited has relied on the exemption in clause 11 of the Financial Markets Conduct (Climate Reporting Entities in Liquidation, Wind-up, or External Administration) Exemption Notice 2024 in respect of the Positive Impact Fund (which was previously a fund within the ASB Investment Funds) and the year ended 31 March 2025. This exemption is available because the winding-up of the Positive Impact Fund was completed during the year. As a result, ASB Group Investments Limited is not required to prepare a climate statement in respect of the Positive Impact Fund for the year ended 31 March 2025.
More guides on investing with ASB
Choosing where to invest
Whether you're a seasoned investor or just starting out, ASB offers a wide range of investments and resources that you’d expect from a bank that’s committed to helping you find the best solution.
Investment options
Whether you're an experienced investor or just starting out, ASB offers a wide range of investment options to suit your individual needs.
What a Wealth Manager can do for you
Recently inherited money, sold a business or have significant savings you'd like to grow further? With such big decisions to make and a lot at stake, you might want to get professional investment advice from an ASB Wealth Manager. Here’s what to expect.
Contact us
Interests in the ASB KiwiSaver Scheme and ASB Investment Funds (Schemes) are issued by ASB Group Investments Limited, a wholly owned subsidiary of ASB Bank Limited (ASB). ASB provides administration and distribution services for the Schemes. No person guarantees interests in the Schemes. Interests in the Schemes are not deposits or other liabilities of ASB. They are subject to investment risk, including possible loss of income and principal invested. For more information see the ASB KiwiSaver Scheme Product Disclosure Statement or the ASB Investment Funds Product Disclosure Statement available from this website and the register of offers of financial products at www.disclose-register.companiesoffice.govt.nz (search for ASB).
*The Responsible Investment Certification Program does not constitute financial product advice. Neither the Certification Symbol nor RIAA recommends to any person that any financial product is a suitable investment or that returns are guaranteed. Appropriate professional advice should be sought prior to making an investment decision. RIAA does not hold a Financial Advice Provider licence.
As part of RIAA's RI Certification Program we are required to recertify every two years. If any of our funds failed their recertification we would work with RIAA to resolve the issue, or if the issue cannot be resolved RIAA will revoke certification and we will notify our customers.