Mandate roundup: Norwegian oil fund, Camden Pension Fund, GjensidigeStiftelsen, Pensions Trust
The Norwegian Government Pension Fund Global council on ethics has selected research and analytics provider Sustainalytics to provide ESG research.
The firm will help the fund on its global equity and fixed income portfolios over four years.
It will provide ESG information on companies, assisting the council in its fund monitoring, and make recommendations on the exclusion of companies from its investments.
Sustainalytics assesses a wide range of areas including companies’ exposure to business risks, supply-chain management and involvement in controversial markets.
Also, the London Borough of Camden Pension Fund, a £1.1bn (€1.3bn) UK local government scheme, has tendered for one or more managers for a £150m unconstrained global equity mandate.
The fund requests that any manager responding to the tender have capacity to manage up to £500m, as the mandate may increase.
The investor has set an outperformance objective of 2-3% above the MSCI All Countries World Index or the FTSE All-World Index, on a rolling three-year basis, net of fees.
Managers should only respond with long-only segregated funds or pooled solutions.
In other news, GjensidigeStiftelsen, the $8bn (€5.8bn) Norwegian foundation, has appointed MSCI ESG Research to provide ethical screening and external management engagement services.
The fund will use MSCI’s impact monitor to ensure its invested companies follow ethical standards.
It will use the company’s portfolio analytics business for its manager engagement.
And finally, The Pensions Trust, a UK multi-employer pension scheme for non-profits, has appointed BlackRock to run a £100m portfolio of investments and credit securities on a fiduciary management basis.
The 170,000-member fund said its diversification into these assets would allow it to meet its long-dated, indexed-linked liabilities and boost returns for alternative growth assets.
Along with the mandate, BlackRock will provide delegated investment services, reporting and asset and external investment management.