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Dutch fund moves toward SRI approach

January 2001

The Dutch pension fund PGGM looks set to adopt socially responsible investment (SRI) principles across its entire portfolio.

PGGM, which manages €50billion (£30bn) on behalf of healthcare and welfare workers, has been impressed by the performance of a small pilot fund it set up to assess the impact of SRI policies.

The pilot fund has been run by the SNS asset management group since April 1999.

PGGM said the fund had performed ‘at least as well as our other investments’ and had encouraged senior managers to take more seriously the idea of assessing the full portfolio using SRI methods, among them exclusion criteria.

PGGM said that monitoring of the pilot fund would continue ‘until we feel we know enough, and added: ‘When we feel it is right, we will roll this approach out across our other investments.’

PGGM has already publicly stated that it ‘has no intention of investing in organizations which, albeit profitable, make their profits in ways which are socially unacceptable’.

Around 26 per cent of PGGM’s portfolio is invested in fixed-interest securities, 62 per cent in shares and 12 per cent in property.




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