State Street Global Advisors announced that Sweden’s Arkitekternas Pensionskassa will invest US$100 million in SSgA’s Socially Responsible Investing (SRI) screened fund for passive global equity mandates.
Launched in March and domiciled in Paris, State Street Global Advisors’ Global Equity SRI Fund tracks the MSCI World Index with a socially screened overlay, provided by the Swedish firm Ethix, which allows investors such as Arkitekternas Pensionskassa to align financial needs with organisational values.
“The level of interest that our SRI strategies continue to gather from Swedish institutional investors is very encouraging, and we are pleased to welcome Arkitekternas Pensionskassa to our growing customer base in the Nordic region,” said Laurent De Greef, director of marketing of State Street Global Advisors in Brussels. “This pooled fund offers an innovative, efficient and cost-effective solution for institutional investors who wish to have a global passive investment strategy aligned with their values.”
With 20 years experience in managing SRI assets, State Street Global Advisors has more than US$96billion in SRI assets (as of September 30, 2005) for 190 customer accounts, making it one of the largest SRI managers in the world.