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Environment Agency in €75m ‘responsible’ fixed income search

UK - The Environment Agency is looking for a manager to invest £50m (€75.5m) in a diverse UK non-gilt fixed interest portfolio for its  £1.5bn pension scheme.

The agency is looking for innovative approaches to managing the portfolio preferably including a socially and environmentally responsible investment (SERI) strategy, it stated in the tender document.

It specifically states that any responses have to include "an explanation in less than 500 words of how sustainable environmentally responsible investment and corporate environmental governance would be integrated into the investment process".

Its SERI approach has won the Environment Agency the SRI accolade at the IPE Awards for Europe's Pensions Funds in 2005 and the joint UK country award along with Saul, the Superannuation Arrangements of the University of London, in 2006 in Paris.

It is the first time this member of the Local Government Pension Schemes is looking to appoint a manager in this area. The mandate is financed by a "mixture of new money and monies from re-balancing back to strategic asset allocation", a spokeswoman confirmed to IPE. 

The contract will run for three years with regular performance reviews. Deadline for participation is February 28.

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  • QN-2474

    Asset class: All/Large Cap Equities.
    Asset region: Global Developed Markets.
    Size: $150m.
    Closing date: 2018-09-25.

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