SWEDEN - Swedish pension fund Telia Pensionsstiftelse is to invest US$140m in State Street Global Advisors' new socially responsible investing (SRI) screened fund for passive global equity mandates.
The fund, launched in March and domiciled in Paris, tracks the MSCI World Index with a socially screened overlay, provided by Swedish firm Ethix, which allows investors such as Telia to align their financial needs with its values, SSgA said.
Peter Antonsson, president of Telia Pensionsstiftelse, said: “We selected State Street Global Advisors because of its industry-wide reputation for managing sophisticated portfolios for large pension funds, and for its clear leadership in passive equity strategies.”
SSgA manages more than US$112bn in SRI assets, as at December 31, 2004.
“This new pooled fund offers an efficient and cost-effective solution for investors who wish to have a global passive investment strategy aligned with their values,” said Benoit Fally, managing director of SSgA in Brussels.
“We are pleased to have Telia in our growing customer base in the Nordic region, and it’s encouraging to note the level of interest that our socially responsible investments have garnered from our clients.”
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