SWEDEN - Scottish Widows Investment Partnership (SWIP) has been mandated by a new Swedish client, SPK (Sparinstitutens Pensionskassa), which is to invest between E25m-E31m in SWIP's Pan European SRI Fund.
The news comes on the back of several other recent Swedish wins, including E77m from Kommunforbundet Pensionstiftelse and E22m from the Swedish Foundation for Strategic Research.
The SRI overlay for the fund, which was launched in May this year, is modelled on the Seventh AP Fund and is researched by Caring Company Etikanalytikerna.
The screening model is based on a number of UN conventions and while it operates an engagement process exclusion is the ultimate sanction. The OEIC’s portfolio is quite concentrated, holding around 35 companies.
Chris Walker, head of institutional, at SWIP, said: “We have exceeded our expectations in 2002 in Sweden and now realise it is going to be much more important in 2003 from a business point of view.
“The potential for SRI in Sweden is very great indeed.”
Peter Hansson, executive vice president at SPK, said: “ Having followed SWIP for some time now, I recognise their skills in European equities and look forward to a positive cooperation.”
In September SWIP organised an SRI seminar in Sweden to which it invited 20 of Stockholm’s largest investors.
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