Finnish church takes the SRI path
FINLAND - The Central Church of Finland has awarded two SRI European equity mandates, worth €60m.
Bank Sarasin has been asked to manage a €35m portfolio of socially-responsible European equities while Morley Fund Management - a division of Aviva - will look after the remaining €25m of Kirkkohallitus' SRI mandate for the € €746m pension fund.
The Central Church of Finland, otherwise known as the Evangelical Lutheran Church of Finland, announced in June it was seeking one or more active SRI managers for its foray into the European SRI market. (See earlier IPE story: Finnish church goes SRI)
These new appointments follows a shift in the church's SRI policy earlier this year, as officials stated it believed responsible companies are better long-term investment targets.
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