US - State Street Global Advisors (SSgA) and Innovest Strategic Value Advisors (Innovest) have launched a new investment strategy focusing on US large-cap equities.
In a joint statement, the companies said the strategy – US Core Environmental – would “exploit the financial synergies of combining each firm’s proprietary investment algorithms”.
Innovest is a member of State Street Global Alliance, LLC, a strategic venturing partnership jointly owned by State Street Global Advisors and Stichting Pensioenfonds ABP.
“We are seeing a rapidly growing appetite among institutional investors, both in the United States and elsewhere, for new investment products which can combine strong financial performance, state-of-the-art fiduciary leadership, and concern for major environmental issues such as climate change,” said SSgA’s group chief investment officer Alan Brown.
“This new strategy is a direct response to that demand.”
According to the statement, the strategy is the product of “months of sophisticated testing and analysis” at SSgA’s Advanced Research Center in Boston.
“There are strong early indications that this new product will find ready acceptance, especially among public funds, endowments and foundations, both in the US and internationally,” said Innovest CEO Matthew Kiernan (pictured).
“Institutional investors such as the members of the Investor Network on Climate Risk are becoming increasingly concerned about the financial impacts of strategic environmental issues on their investment portfolios. Perhaps even more importantly, as prudent fiduciaries, they are increasingly ready to move beyond concern to take concrete actions to minimise portfolio risk and maximise investment returns.
“We believe that the combination of Innovest’s specialised research expertise with the demonstrated asset management capabilities of SSgA will create a powerful value proposition for institutional clients.”
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