Brunel Pension Partnership, which invests money for ten UK local authorities, has launched a sustainable equities multi-manager fund.
The fund, which integrates ESG criteria throughout the investment process, is said to go “beyond” traditional responsible investing and focus on “positive inclusion” rather than just negative exclusions.
Brunel chose Ownership Capital, Nordea Asset Management, and RBC Global Asset Management to manage the sustainable fund, which has a mandate of £1.2 billion (€1.3 billion).
According to David Cox, head of listed markets at Brunel, the three managers were appointed because of their shared broad investing style and prioritisation of sustainability.
“Their approaches are also different enough to provide clients with the diversification they were looking for” he added.
They were selected out of an initial list of around 70 applicants.
According to David Jenkins, portfolio manager for the Sustainable Equities Fund, the portfolio meets Brunel’s aspiration to go beyond traditional responsible investing.
It ensures “the managers are engaged with the companies and are investing in them for positive reasons, not simply focusing on negative exclusions,” he said.
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