SWEDEN – Sweden’s 1.2 billion euro Sparinstitutens Pensionskassa pension fund will invest 31 million euros in Scottish Widows’ Investment Partnership’s European socially responsible investment fund.

SWIP said in a news release that SPK “are to invest €31m in SWIP’s Pan European SRI Fund”. SWIP said the SRI overlay for the fund is modelled on the two billion euro Swedish national AP7 fund. It is managed by Caring Co. Etikanalytikerna, a Swedish ethical investment consultancy and is marketed via an agreement with Intervalor AB.

Christopher Walker, head of SWIP’s institutional division said: “This is one of many recent wins in_Sweden since we linked up with Intervalor as our local office and confirms our growing presence in the Nordic markets. SWIP’s SRI capabilities are proving very attractive to clients offering performance within a rigorous ethical framework.”

SPK executive vice president Peter Hansson said: “Having followed SWIP for some time now, I recognise their skills in European Equities and look forward to a positive co-operation.”

SWIP, part of Lloyds TSB, manages around 110 billion euros in assets