UK - Insight Investment has shifted its socially responsible investment function to individual fund management teams following its acquisition by BNY Mellon Asset Management last year.
The investment management firm said head of responsible investment Rory Sullivan left the company in mid-December as a result of the move.
Insight head of marketing Alison Swonnell explained the BNY Mellon acquisition altered Insight's asset mix - reducing its equity holdings - meaning a dedicated SRI team was no longer necessary.
She told GP: "As a result of this, we don't have a dedicated SRI team; it's been devolved into the actual investment areas, such as fixed income.
"All ESG [environmental, social and governance issues] now sit with those investment teams, so analysts and fund managers have the responsibility for identifying any issues that would impact investment decisions."
Insight said head of credit research Andy Evans will now oversee its SRI policy. It added it would continue to have active membership of initiatives - such as the Carbon Disclosure Project.
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