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fantasy SRI fund offers mandate

April 2003

Fund managers have been invited to enter a global competition to find the best structure for a hypothetical pension fund run along socially responsible lines.

The €15,000 competition, set up by the UK’s Universities Superannuation Scheme, is challenging fund managers to devise ‘radical proposals for a ground-breaking mandate’ for an SRI fund run for 20 years. Entries have to be in by 30 May.

The competition, which is supported by the US-owned investment consultancy Hewitt Bacon & Woodrow and the Ontario Teachers Pension Plan, will focus attention on the long-term investment issues SRI hopes to address. Members of the public can enter.

‘We still haven’t got fund managers running money in a way that matches our long-term liabilities,’ said USS chief investment officer Peter Moon. ‘We see this competition as a way of generating new thinking [and] to take the debate to a higher level.’

USS hopes some big investors may commit real money to an experimental fund based on the winning entry.




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