Impact hit-and-miss for ASB

ASB's Positive Impact Fund has accrued just over 5,400 members since its launch in 2019. (Image: Getty)

Wed, 23 Oct 2024

When it launched the so-called Positive Impact Fund in 2019, ASB took a bit of stick.At the time, several KiwiSaver competitors and others in the then-nascent environmental, social, and governance (ESG) investment space privately muttered about bandwagon-hopping and other off-label comments.But as it turned out, the ‘impact’ bandwagon wasn’t going very far – at least for ASB.Last week, the bank-owned manager pulled down the shutters on the Positive Impact Fund, or PIF, with a final wind-up slated for next January.'Na...

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