Columbia Threadneedle Investments, the global asset management arm of US-based Ameriprise Financial, has won an ESG mandate from insurance firm Zurich Germany.
Zurich did not disclose the size of the mandate, but Columbia Threadneedle manages €11 billion in responsible investments for clients around the world.
Columbia Threadneedle has a long-term partnership with Zurich, it is one of the insurers primary asset managers across a range of different asset classes and strategies.
The environmental, social and governance mandate will be managed by Ann Steele, a senior portfolio manager at Columbia Threadneedle.
Michael Leinwand, chief investment officer at Zurich Germany, said that Steele has an “excellent record” in managing European equities and believes that ESG factors will generate better long term returns for the firm’s shareholders.
“We have seen an increase in demand for ESG type strategies, particularly from our European clients, as investors clearly recognise the benefits that a responsible investment approach can bring,” said Andrew Nicoll, global head of insurance at Columbia Threadneedle.
Columbia Threadneedle had £369 billion (€431 billion) in assets under management as of December 31, 2016.
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