VicSuper gives ESG mandate to State Street Global Advisors
VicSuper has given an active global equities environmental, social and corporate governance (ESG) mandate to State Street Global Advisors (SSgA).
The mandate, with about $310 million in assets, will invest in a portfolio of global equities that combines ESG factors alongside a proprietary dynamic alpha model.
The portfolio will not include tobacco products.
"This program is unique in that ESG principles will be integrated into the stock selection process rather than having an overlay, where individual stocks are simply excluded based on their ESG credentials," SSgA director of business development for Australia and New Zealand Peter Mitchell said.
The integration into the stock process is in the hope it will deliver strong risk-adjusted returns over time.
The mandate will also focus on risk management.
SSgA had $US182.6 billion in ESG assets under management as at 30 June this year, invested globally in multiple asset classes.
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