They include firms that run a well-known copper and gold mine in strife-torn West Papua in Indonesia and another that owns the earthquake-damaged Fukushima nuclear plant in Japan.
The New Zealand Superannuation Fund, sometimes known as the Cullen Fund, has long avoided investing in things such as whale meat, tobacco, many mines, and cluster bombs.
It has just increased its scope to exclude several new companies.
Ms O'Connor says the fund has sold shares worth $1.3 million in Freeport McMorran Copper and Gold which runs the Grasberg mine in West Papua, blaming the company's human rights policies and its payments to Indonesian security forces.
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