New Zealand-based investment firm Pathfinder Asset Management (PAM) recently began screening one of its equity funds to remove companies that are engaged in animal cruelty, including testing products on animals and welfare concerns. “This year we have been approached by many investors who are concerned about animal welfare issues,” PAM CEO John Berry told the New Zealand Herald. “These have included vegans, who are very passionate about cruelty-free investment, but also a much wider audience focused on animal testing and how animals are treated generally.” PAM already screens and removes companies that engage in other unethical practices, such as producing certain weapons. “We do not believe incorporating animal-welfare screening will change the risk and return characteristics of the fund,” Berry said. Stateside, investor network Farm Animal Investment Risk & Return (FAIRR)—which manages $5.9 trillion in investment capital, collectively—published a report in June that outlines the major risks of investing in companies that engage in animal agriculture with the purpose of encouraging investors to seek ethical brands.