Scottish Borders Council Pension Fund has become the first UK local authority pension fund to invest in Morgan Stanley Investment Management’s (MSIM) Global Sustain Strategy.
Launched in 2018, the strategy is managed by MSIM’s international equity team and invests in firms that are carbon light, tobacco-free, alcohol-free, and free of fossil fuels.
Councillor David Parker, the pension fund’s chair, said: “The Scottish Borders Council Pension Fund believes that a positive approach to ESG issues can positively affect the financial performance of investments whereas a failure to address these considerations can have a detrimental effect.
“The fund is therefore pleased that an asset manager we have partnered with for 7 years is now offering an investment strategy that fully integrates ESG principles while delivering on the long-term needs of our pension funds.”
Scottish Borders Council Pension Fund manages £711 million (€829 million) of assets on behalf of 18 underlying employee organisations.
MSIM had US$463 billion (€409 billion) of assets under management as of 31 December 31, 2018.
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