DENMARK - Lærernes Pension, the pension fund for Danish teachers, has hired State Street Global Advisors (SSgA) to run a $271m US investment-grade bond portfolio with an environmental, social and governance screen.
SSgA is replacing another manager that was terminated, confirmed Lærernes portfolio manager Morten Roed Eriksen. He declined to name the manager.
Lærernes applies an ESG to its entire €5.5bn ($7.4bn) portfolio. Eriksen said a negative screen is applied to ensure companies comply with the United Nations Global Compact, a set of guidelines relating to human rights, labour, environment and anti-corruption policies.
SSgA has $469bn in fixed income assets under management.
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