UK - Storebrand Investments has replaced Henderson Global Investors as manager of the UK Charities Aid Foundation’s 7.2 million pound (10.7 million euro) socially responsible fund, which holds investments by 183 charities.

The decision to replace Henderson Global Investors was made last year, after “Henderson made clear that they wished to focus on developing their own funds,” says CAF.

John Rogerson, CAF’s head of investments commented: “The aim was to find an investment house with sound socially responsible investment criteria and a disciplined stock selection process, underpinned by a credible investment methodology which held out the prospect of competitive returns for investors in the fund. Storebrand not only brings these disciplines but also bring a strong sense of commitment to the fund.”

Stephen William, representative of Storebrand in the UK, commented: “There is increasing pressure on charities in the UK to align their investment policies with their charitable objectives. The newly-issued Charity Commission guidance on investing acknowledges that for charities financial performance and socially responsible investment can be compatible. Recent research shows that charity supporters are increasingly concerned about how charities are investing their money.

“Storebrand's approach to socially responsible investment means that charities get the full benefit of professional investment management and the comfort that their investment is serving responsible social and environmental objectives.”

Storebrand takes over as manager of the fund today.

Storebrand, part of Norway’s largest life assurance company, is a global asset manager with over 12 billion pounds in assets under management. The firm has more than one billon pounds invested in socially responsible portfolios.