As active managers, we have always undertaken detailed analysis to find the best companies, including their environmental, social and governance performance.
This work is at the core of our investment decision-making process and we analyse the ESG credentials of every company we invest in.
As a result of this analysis, we can actively engage with each company to do better, improve their environmental and social impact and increase transparency.
We believe we can make a greater impact through engagement. While excluding certain investments avoids harm, it can ignore the complexity of ESG issues and miss some of the greatest opportunities to progress.
Sustainability is a team sport; we will not reach our sustainability goals unless all companies transition to a more sustainable future.
How do we engage with companies?
We have three layers of engagement with the companies we invest in:
Via letters and meetings with Boards and management in response to particular events, for example major breaches of environmental or social requirements.
Rolling 12 month count of Milford sustainability engagements
More details about Milford’s proxy voting activity are available here. Note that holdings voted in person at AGMs are currently disclosed as “unvoted”. Please contact us if you require further information.
Active engagements for the 12 months to the end of April 2025
Proxy votes cast for the 12 months to the end of April 2025
Our commitment to sustainable investing
We are thrilled to achieve a score of 4 stars out of 5 across our listed equity and fixed income investing activities for our 2023 assessment.
Read more about a range of ESG issues on our blog
Milford is very proud to have been named a Responsible Investment Leader by the RIAA in their annual Responsible Investment Benchmark Report Aotearoa New Zealand for both 2022 and 2023.
These Leaders are Investment Managers who demonstrate leading practice in their commitment to responsible investment, and their supporting integration and activity. The report noted that Responsible Investment Leaders explicitly and systematically consider ESG factors in the allocation of capital, and are decidedly transparent, reporting publicly not just on their activities to improve environmental and social sustainability, but also the outcomes they achieve.
Climate Action 100+ is an investor-led initiative to ensure the world’s largest corporate greenhouse gas emitters take necessary action on climate change. Made up of 700 global investors who are responsible for more than $68 trillion in assets under management across 33 markets, Climate Action 100+ ensures the businesses they invest into cut emissions to help achieve the goals of the Paris Agreement and accelerate the transition to net-zero emissions by 2050 or sooner. At Milford, we are proud to be part of this initiative and are excited to work alongside likeminded global investors to help accelerate the transition to a more sustainable future.
There are companies we will not directly invest in across all Milford funds, including our KiwiSaver funds. We apply business activities exclusions that reflect New Zealand and Australian law, or international conventions ratified by New Zealand and Australia.
We will also not invest in companies that fail our own ESG analysis or will not engage when we have identified the need for change.
In addition to our sustainable investing philosophy and process, our core purpose includes making a positive contribution to our community. We have launched the Milford Foundation to achieve just that.
The Milford Foundation aims to help strengthen the future of the communities within Aotearoa, New Zealand by leveraging Milford’s financial resources, investment expertise and commercial discipline.
Our mission is to strengthen New Zealand communities through the lenses of youth, education and environment. Through a combination of investment expertise, our generous donor community, a commitment to efficiency, effectiveness and transparency, and strong partnerships, we can – and will – make a meaningful impact for New Zealand’s future generations.
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Milford Funds Limited is the Manager and Issuer of the Milford KiwiSaver Plan and the Milford Investment Funds
