After the terrorist attack on two mosques in Christchurch, new Zealand’s Prime Minister Jacinda Ardern (38) has exacerbated the arms act. Now, the sovereign wealth Fund sold all of the shares of companies that manufacture weapons. Including the Geneva luxury goods group falls Richemont, such as “Financial Times” reported.
The British Richemont subsidiary company Purdey produced for over 200 years, guns and other sporting weapons. The products are considered as status symbols of the British upper class. Already Queen Victoria had Purdey guns.
The luxury goods group Richemont watch and jewelry brands such as Cartier and IWC was taken over Purdey in 1970 by the same family. The British use of the Purdey-rifles, among other things, for the grouse hunting. Always hand a Purdey gun at least 20’000 Swiss francs for costs made.
Also, the US weapons manufacturer fall out
Overall, the 31, billions of dollars in new Zealand’s sovereign wealth Fund sold in the course of the arms ban on shares in the amount of 7.5 million Swiss francs. In addition to Richemont, he sold, among other things, shares of U.S. weapons manufacturers American Outdoor Brands Corporation and Sturm, Ruger & Company.
Richemont did not answer the question of VIEWS. In a previous Statement to ethically interested investors Richemont: “weapons, wrote, pork, and alcohol products, and tobacco accessories accounted for less than one percent of the total revenue and are not part of the core business.”
SNB does not sport weapons
the Swiss national Bank (SNB) exclusion criteria for investment in companies that manufacture weapons. However, they are a lot slacker than in new Zealand. Be excluded, according to the SNB Director Thomas Jordan, the companies that produce the weapons, which are not accepted by the international community; companies which damage systematically to the environment or human rights have not been respected. However, companies that produce weapons would not be excluded, in General.