NZ managed funds excluding controversial weapons

Funds whose SIPO excludes controversial weapons — cluster munitions, anti-personnel landmines, biological / chemical / nuclear weapons, and depleted uranium. The most widely-adopted exclusion category in NZ ethical funds; aligns with the UN Convention on Cluster Munitions and the Ottawa Treaty.

62 funds match. Source: each fund's Statement of Investment Policy and Objectives lodged on the FMA Disclose register.

ACI Conservative Fund

ACI · Diversified

"Controversial weapons"

Also excludes: Fossil fuels · Tobacco · Alcohol · Gambling · Adult

1.50% annual

SIPO 2025-11-26
ACI Growth Fund

ACI · Diversified

"Controversial weapons"

Also excludes: Fossil fuels · Tobacco · Alcohol · Gambling · Adult

1.61% annual

SIPO 2025-11-26
AMP Aggressive Managed Fund

AMP · Diversified

"Controversial weapons (anti-personnel mines, biological/chemical weapons, cluster weapons, nuclear weapons, depleted uranium, white phosphorus)"

Also excludes: Fossil fuels · Nuclear · Tobacco · Russian

0.80% annual

SIPO 2025-05-29
AMP Balanced Managed Fund

AMP · Diversified

"Controversial weapons (anti-personnel mines, biological/chemical weapons, cluster weapons, nuclear weapons, depleted uranium, white phosphorus)"

Also excludes: Fossil fuels · Nuclear · Tobacco · Russian

0.81% annual

SIPO 2025-05-29
AMP Growth Managed Fund

AMP · Diversified

"Controversial weapons (anti-personnel mines, biological/chemical weapons, cluster weapons, nuclear weapons, depleted uranium, white phosphorus)"

Also excludes: Fossil fuels · Nuclear · Tobacco · Russian

0.81% annual

SIPO 2025-05-29
AMP International Shares Managed Fund

AMP · International Equities

"Controversial weapons (anti-personnel mines, biological/chemical weapons, cluster weapons, nuclear weapons, depleted uranium, white phosphorus)"

Also excludes: Fossil fuels · Nuclear · Tobacco · Russian

0.79% annual

SIPO 2025-05-29
Bentham Global Income PIE Fund

Bentham · International FI

"Companies that manufacture controversial weapons (including anti-personal mines, cluster munitions, nuclear weapons, and biological weapons)"

Also excludes: Tobacco

0.83% annual

SIPO 2026-03-26
Bentham Global Opportunities PIE Fund

Bentham · International FI

"Companies that manufacture controversial weapons (including anti-personal mines, cluster munitions, nuclear weapons, and biological weapons)"

Also excludes: Tobacco

SIPO 2026-03-26
Daintree Core Income PIE

Daintree · International FI

"The manufacture of cluster munitions"

Also excludes: Tobacco · Alcohol · Gambling · Fossil fuels

0.73% annual

SIPO 2026-04-01
Daintree High Income PIE

Daintree · International FI

"The manufacture of cluster munitions"

Also excludes: Tobacco · Alcohol · Gambling · Fossil fuels

0.90% annual

SIPO 2026-04-01
Dimensional Australian Sustainability PIE Fund

Dimensional · Australasian Equities

"Controversial weapons (cluster munitions, landmines, biological, chemical or depleted uranium weapons or key components)"

Also excludes: Fossil fuels · Tobacco · Alcohol · Gambling · Adult

0.35% annual

SIPO 2025-09-29
Dimensional Global Bond Sustainability PIE Fund

Dimensional · International FI

"Controversial weapons (cluster munitions, landmines, biological, chemical or depleted uranium weapons or key components)"

Also excludes: Fossil fuels · Tobacco · Alcohol · Gambling · Adult

0.32% annual

SIPO 2025-09-29
Dimensional Global Sustainability PIE Fund

Dimensional · International Equities

"Controversial weapons (cluster munitions, landmines, biological, chemical or depleted uranium weapons or key components)"

Also excludes: Fossil fuels · Tobacco · Alcohol · Gambling · Adult

0.40% annual

SIPO 2025-09-29
Dimensional Global Sustainability PIE Fund (NZD Hedged)

Dimensional · International Equities

"Controversial weapons (cluster munitions, landmines, biological, chemical or depleted uranium weapons or key components)"

Also excludes: Fossil fuels · Tobacco · Alcohol · Gambling · Adult

0.40% annual

SIPO 2025-09-29
Dimensional Two-Year Sustainability Fixed Interest PIE Fund

Dimensional · International FI

"Controversial weapons (cluster munitions, landmines, biological, chemical or depleted uranium weapons or key components)"

Also excludes: Fossil fuels · Tobacco · Alcohol · Gambling · Adult

0.25% annual

SIPO 2025-09-29
Evidential Sustainable Global Bond Fund

Evidential · International FI

"Controversial weapons (cluster munitions, landmines, biological, chemical or depleted uranium weapons)"

Also excludes: Fossil fuels · Tobacco · Alcohol · Gambling · Adult

0.32% annual

SIPO 2025-11-18
Evidential Sustainable Targeted Factor Fund

Evidential · International Equities

"Controversial weapons (cluster munitions, landmines, biological, chemical or depleted uranium weapons)"

Also excludes: Fossil fuels · Tobacco · Alcohol · Gambling · Adult

0.62% annual

SIPO 2025-11-18
First Sentier Global Listed Infrastructure Fund

First Sentier · Other

"Entities deriving any gross revenue directly from the manufacture of Controversial Weapons (anti-personnel mines, cluster weapons, biological and chemical weapons, depleted uranium, nuclear weapons an…"

Also excludes: Tobacco

1.03% annual

SIPO 2026-03-29
Foundation Series Balanced Fund

Foundation Series · Diversified

"Anti-personnel landmines (any exposure) (Australasian Equities)"

Also excludes: Tobacco · Alcohol · Gambling · Adult · Fossil fuels · Animal testing · Nuclear · Russian

0.36% annual

SIPO 2026-01-29
Foundation Series Global ESG Fund

Foundation Series · International Equities

"Anti-personnel landmines (directly involved) (International Equities)"

Also excludes: Tobacco · Alcohol · Gambling · Adult · Nuclear · Fossil fuels

0.10% annual

SIPO 2026-01-29
Foundation Series Growth Fund

Foundation Series · Diversified

"Anti-personnel landmines (any exposure) (Australasian Equities)"

Also excludes: Tobacco · Alcohol · Gambling · Adult · Fossil fuels · Animal testing · Nuclear · Russian

0.38% annual

SIPO 2026-01-29
Foundation Series High Growth Fund

Foundation Series · Diversified

"Anti-personnel landmines (any exposure) (Australasian Equities)"

Also excludes: Tobacco · Alcohol · Gambling · Adult · Fossil fuels · Animal testing · Nuclear

0.37% annual

SIPO 2026-01-29
Generate Focused Growth Managed Fund

Generate · Diversified

"Manufacture of cluster munitions"

Also excludes: Tobacco

1.35% annual

SIPO 2025-11-25
Hunter Global Fixed Interest Fund

Hunter · International FI

"Cluster munitions development or production"

Also excludes: Tobacco · Gambling · Fossil fuels

0.53% annual

SIPO 2025-08-27
Kernel S&P Global 100 (NZD Hedged) Fund

Kernel · International Equities

"Controversial weapons"

0.25% annual

SIPO 2025-09-16
Kernel S&P Global 100 Fund

Kernel · International Equities

"Controversial weapons"

0.25% annual

SIPO 2025-09-16
Kernel World ex-US Fund

Kernel · International Equities

"Controversial weapons"

Also excludes: Tobacco

0.25% annual

SIPO 2025-09-16
Mercer All Country Global Shares Index Fund

Mercer · International Equities

"Controversial weapons"

Also excludes: Tobacco · Russian

0.43% annual

SIPO 2026-03-22
Mercer Core Global Shares Fund

Mercer · International Equities

"Controversial weapons"

Also excludes: Tobacco · Russian

1.24% annual

SIPO 2026-03-22
Mercer Core Hedged Global Shares Fund

Mercer · International Equities

"Controversial weapons"

Also excludes: Tobacco · Russian

1.46% annual

SIPO 2026-03-22
Mercer Global Listed Infrastructure Fund

Mercer · Other

"Controversial weapons"

Also excludes: Tobacco · Russian

1.34% annual

SIPO 2026-03-22
Mercer Global Listed Real Estate Fund

Mercer · Listed Property

"Controversial weapons"

Also excludes: Tobacco · Russian

1.33% annual

SIPO 2026-03-22
Mercer Global Shares Fund

Mercer · International Equities

"Controversial weapons"

Also excludes: Tobacco · Russian

1.25% annual

SIPO 2026-03-22
Mercer Income Generator Fund

Mercer · Diversified

"Controversial weapons"

Also excludes: Tobacco · Russian

1.28% annual

SIPO 2026-03-22
Mercer NZ Shares Passive Fund

Mercer · Australasian Equities

"Controversial weapons"

Also excludes: Tobacco · Russian

0.36% annual

SIPO 2026-03-22
Mercer Responsible Balanced Fund

Mercer · Diversified

"Controversial weapons (cluster munitions, anti-personnel landmines, biological/chemical/nuclear weapons manufacturers; automatic/semi-automatic civilian firearms)"

Also excludes: Tobacco · Russian · Fossil fuels · Adult · Alcohol · Gambling

1.25% annual

SIPO 2026-03-22
Mercer Responsible Global Shares Fund

Mercer · International Equities

"Controversial weapons"

Also excludes: Tobacco · Russian · Fossil fuels · Adult · Alcohol · Gambling

1.69% annual

SIPO 2026-03-22
Mercer Responsible Hedged Global Fixed Interest Index Fund

Mercer · International FI

"Controversial weapons"

Also excludes: Tobacco · Russian · Fossil fuels · Adult · Alcohol · Gambling

0.43% annual

SIPO 2026-03-22
Mercer Responsible Trans-Tasman Shares Fund

Mercer · Australasian Equities

"Controversial weapons"

Also excludes: Tobacco · Russian · Fossil fuels · Adult · Alcohol · Gambling

1.06% annual

SIPO 2026-03-22
Russell Investments Global Fixed Interest Fund

Russell Investments · International FI

"Controversial Weapons Producers (corporate debt holdings only)"

Also excludes: Tobacco · Fossil fuels

0.58% annual

SIPO 2026-04-01
Russell Investments Global Shares Fund

Russell Investments · International Equities

"Controversial Weapons Producers"

Also excludes: Tobacco

0.93% annual

SIPO 2026-04-01
Russell Investments Hedged Global Shares Fund

Russell Investments · International Equities

"Controversial Weapons Producers"

Also excludes: Tobacco

0.92% annual

SIPO 2026-04-01
Russell Investments Hedged Sustainable Global Shares Fund

Russell Investments · International Equities

"Controversial Weapons Producers"

Also excludes: Tobacco · Nuclear · Fossil fuels

0.33% annual

SIPO 2026-04-01
Russell Investments Sustainable Global Shares Fund

Russell Investments · International Equities

"Controversial Weapons Producers"

Also excludes: Tobacco · Nuclear · Fossil fuels

0.33% annual

SIPO 2026-04-01
SBS Wealth Growth Strategy

SBS Wealth · Diversified

"Controversial weapons"

Also excludes: Tobacco · Adult

1.17% annual

SIPO 2025-10-28
Schroder Sustainable Global Core PIE Fund

Schroders · International Equities

"Controversial weapons (cluster munitions, anti-personnel mines, chemical and biological weapons) — Schroders Group proprietary methodology"

Also excludes: Fossil fuels · Tobacco

0.39% annual

SIPO 2026-03-26
Schroder Sustainable Global Core PIE Fund (Hedged)

Schroders · International Equities

"Controversial weapons (cluster munitions, anti-personnel mines, chemical and biological weapons) — Schroders Group proprietary methodology"

Also excludes: Fossil fuels · Tobacco

0.39% annual

SIPO 2026-03-26
Smart Emerging Markets ESG ETF

Smartshares · International Equities

"Companies with exposure to Controversial Weapons"

Also excludes: Tobacco · Fossil fuels

0.59% annual

SIPO 2026-04-16
Smart Europe ESG ETF

Smartshares · International Equities

"Companies with exposure to Controversial Weapons"

Also excludes: Tobacco · Fossil fuels

0.55% annual

SIPO 2026-04-16
Smart Global Bond ETF

Smartshares · International FI

"Financial products issued by entities where any part of revenue and/or activities involve illegal weapons (cluster munitions, anti-personnel mines and nuclear explosive devices)"

Also excludes: Tobacco · Fossil fuels

0.54% annual

SIPO 2026-04-16
Smart Japan ESG ETF

Smartshares · International Equities

"Companies with exposure to Controversial Weapons"

Also excludes: Tobacco · Fossil fuels

0.55% annual

SIPO 2026-04-16
Smart US ESG ETF

Smartshares · International Equities

"Companies with exposure to Controversial Weapons"

Also excludes: Tobacco · Fossil fuels

0.34% annual

SIPO 2026-04-16
Stewart Investors Worldwide Leaders Fund

Stewart Investors · International Equities

"Companies materially involved in manufacture of armaments including Controversial Weapons (anti-personnel mines, cluster weapons, biological and chemical weapons, depleted uranium, nuclear weapons, wh…"

Also excludes: Fossil fuels · Nuclear · Alcohol · Tobacco · Gambling · Adult · Animal testing

0.61% annual

SIPO 2026-03-30
Summer Australian Equities

Summer · Australasian Equities

"Companies deriving ≥5% revenue from production of cluster munitions, landmines, biological/chemical weapons, depleted uranium/blinding laser/incendiary/non-detectable fragment weapons"

Also excludes: Tobacco

1.02% annual

SIPO 2026-05-13
Summer Balanced Selection

Summer · Diversified

"Companies deriving ≥5% revenue from production of cluster munitions, landmines, biological/chemical weapons, depleted uranium/blinding laser/incendiary/non-detectable fragment weapons"

Also excludes: Tobacco

1.02% annual

SIPO 2026-05-13
Summer Conservative Selection

Summer · Diversified

"Companies deriving ≥5% revenue from production of cluster munitions, landmines, biological/chemical weapons, depleted uranium/blinding laser/incendiary/non-detectable fragment weapons"

Also excludes: Tobacco

0.87% annual

SIPO 2026-05-13
Summer Global Equities

Summer · International Equities

"Companies deriving ≥5% revenue from production of cluster munitions, landmines, biological/chemical weapons, depleted uranium/blinding laser/incendiary/non-detectable fragment weapons"

Also excludes: Tobacco

1.02% annual

SIPO 2026-05-13
Summer Global Fixed Interest

Summer · International FI

"Companies deriving ≥5% revenue from production of cluster munitions, landmines, biological/chemical weapons, depleted uranium/blinding laser/incendiary/non-detectable fragment weapons"

Also excludes: Tobacco

0.87% annual

SIPO 2026-05-13
Summer Growth Selection

Summer · Diversified

"Companies deriving ≥5% revenue from production of cluster munitions, landmines, biological/chemical weapons, depleted uranium/blinding laser/incendiary/non-detectable fragment weapons"

Also excludes: Tobacco

1.02% annual

SIPO 2026-05-13
Summer Listed Property

Summer · Listed Property

"Companies deriving ≥5% revenue from production of cluster munitions, landmines, biological/chemical weapons, depleted uranium/blinding laser/incendiary/non-detectable fragment weapons"

Also excludes: Tobacco

1.02% annual

SIPO 2026-05-13
Summer New Zealand Cash

Summer · Cash

"Companies deriving ≥5% revenue from production of cluster munitions, landmines, biological/chemical weapons, depleted uranium/blinding laser/incendiary/non-detectable fragment weapons"

Also excludes: Tobacco

0.62% annual

SIPO 2026-05-13
Te Ahumairangi Global Equity Fund

Te Ahumairangi · International Equities

"Manufacture of nuclear weapons"

Also excludes: Tobacco · Alcohol · Gambling · Fossil fuels

0.62% annual

SIPO 2026-03-29

Other exclusion categories

How exclusions work in NZ ethical funds

Exclusion screens are set in each fund's Statement of Investment Policy and Objectives (SIPO) — the foundational policy document each scheme must lodge under the Financial Markets Conduct Act 2013. Each fund's revenue threshold for inclusion in the exclusion list varies (typically >5%, >10%, or "any involvement"). The exact wording for any fund is visible on its `/investment-mandate/` page.

An exclusion screen is one component of an ethical or responsible-investment policy — the other components are positive screens (e.g. preferential weighting of high-ESG-score companies), thematic tilts (e.g. clean-energy overweight), and engagement (proxy voting, manager-investee dialogue). The SIPO sets out which approaches the manager uses; click any fund to see the full policy.