Colorado PERA chooses 2 to manage SRI option in DC plans
By Kevin Olsen | November 16, 2012 3:08 pm
Colorado Public Employees’ Retirement Association, Denver, selected the Northern Trust Global Sustainability Index Fund and J.P. Morgan Government Bond Fund as the underlying portfolios for a socially responsible investing option offered in the association’s three defined contribution plans, confirmed Katie Kaufmanis, PERA spokeswoman.
Northern Trust and J.P. Morgan replace the PAX World Balanced fund, which was terminated for performance. The $6.7 million in assets will be transferred to the new options — 60% to Northern Trust and 40% to J.P. Morgan.
A spokesman for PAX World Management, did not immediately return a phone call for comment.
The defined contribution plans — a 401(k), 457 and 401(a) — have a combined $2.7 billion and the same investment options.
Separately, the board of the $40 billion pension fund approved selecting MSCI ACWI IMI as its new global equity benchmark, Ms. Kaufmanis said. It replaces the previous custom benchmark, which was 64% Dow Jones U.S. Total Stock Market index and 36% MSCI ACWI ex U.S.