The state-owned Superannuation Fund is excluding guns from its investment portfolio.
A selection of firearms which are now prohibited, on display to media at a police press conference. Photo: RNZ / Ana Tovey
In the wake of the mosque shootings, RNZ revealed the Super Fund invested millions of dollars in international weapons manufacturers and retailers.
It's now revealed that investment to be much larger - with $19 million in seven companies.
The Super Fund says it will now divest from them and add firearms to its exclusions list.
Chief executive Matt Whineray said the fund "moved swiftly to review its exclusion policy and portfolio following the announcement of the government's intention to introduce gun control legislation".
Meanwhile, Disarmament and Arms Control Minister Winston Peters says semi-automatic weapons banned in New Zealand under new gun laws will no longer be able to be imported for the purpose of re-export.
Winston Peters. Photo: RNZ / Rebekah Parsons-King
Exporting certain semi-automatic weapons, magazines and parts in New Zealand will be prohibited from 12 April.
The announcement comes after Parliament passed a bill banning military style semi-automatics on Wednesday - in response to the massacre of 50 people in two Christchurch mosques on 15 March by an armed terrorist.
Mr Peters said: "These changes are essential to ensure that weapons that are prohibited in New Zealand are not exported to other countries where they would pose a similar risk."
"The Ministry of Foreign Affairs and Trade, which is responsible for New Zealand's export control regime for weapons, is likely to decline permits for the export of prohibited semi-automatic firearms, magazines and parts except in certain limited circumstances," he said.
MFAT would consider applications from exporters still permitted to possess such items under the new legislation, including dealers, collectors and approved cullers.
Approval won't be automatic and applications will be assessed against whether the weapon could be used in human rights abuses or to undermine peace and security.
Mr Peters said there would be a transition to allow for "dealers seeking to return stock to suppliers, items that are stuck at the border because they are now prohibited, personal transfers by people leaving the country, and certain items traded by existing manufacturers and suppliers".