The SKr6.3bn (e759m) pension fund for the Church of Sweden has added SPP Investment Management to the roster of its managers. SPP scooped the brief to manage an SKr1bn active index mandate, which will be weighted on a 20% Swedish, 80% international equity basis.
The manager will track the Affarsvarldens Generalindex in Sweden, the S&P500, Eurotop300, Topix100 and Asia pacific100 indices. The indices will be screened on an ethical basis adhering to MSCI global industry certification. The fund does not invest in companies where more than 50% of the turnover comes from weapons or tobacco.
Stockholm-based Lindström & Partners are advising the fund on the index brief. Earlier this year the fund, following its separation from the state, the church selected Wasa, Kammerkollegiets fondbyra, Skandia, Trevise and Kommuninvest.