Statement on UniSaver investments in Israel

Posted 21 February 2025

We have received a number of requests from members asking us to divest in Israeli companies as well as international companies listed by the Boycott, Divestment, Sanctions (BDS) movement led by the Palestinian BDS National Committee (BNC).

UniSaver invests in securities selected by its investment consultant and manager Russell Investments under broad guidance set out in our statement of investment policy and objectives [external link]. We require Russell Investments to comply with New Zealand government sanctions when making investment decisions. As New Zealand is a United Nations (UN) member state, this includes sanctions imposed by the UN Security Council. There are currently no New Zealand sanctions against Israel.

Those exclusions we do have apply across all countries, including Israel, and are aimed at investment in companies whose activities are materially contrary to the intent of New Zealand legislation. These activities include the manufacture of tobacco products, cluster munitions, anti-personnel mines and nuclear explosive devices.

Typically, UniSaver’s total exposure to Israeli securities is less than 1% of funds under management. The exact amount varies as securities are traded from time to time. At 31 December 2024, UniSaver’s total exposure to Israeli securities was around $1.5 million, equating to about 0.09% of the scheme’s assets.

Investment holdings

You can view a list of holdings for each of our main investment options here: