UK – The fund management company Friends Ivory & Sime (FIS) has acquired three new specialist pension fund mandates from UK-based clients. Leading Northern Ireland newspaper, Belfast Telegraph has awarded the fund manager a £10m (e15.7m) active global equity mandate. The music company, Chrysalis Group, gave it a £9m (e14.2m) balanced mandate and the £21m (e33.1m) UK Institution of Professionals, Managers and Specialists’ pension fund selected it to manage another global equity portfolio worth £12.5m (e19.7m).
FIS says it will manage the funds using its growth investment approach and the principles of its ‘responsible engagement overlay’ (reo) product.
The idea behind the product is to encourage companies, which FIS invests in, to resolve problems concerning social, environmental and ethical issues rather than simply to avoid investing in companies that cause public concern. Instead of restricting investment in such companies, FIS says, it will start discussions with them on how to better manage their impact on environmental and social issues.