Evangelical Lutheran Church of Finland, Helsinki, hired OP Asset Management to run a €90 million ($111 million) equity allocation, said Magdalena Lonnroth, portfolio manager and head of responsible investment at the pension fund.
The manager will actively run 15% of the total equity allocation with an environmental, social and governance focus.
"OP scored very well regarding all quality and resource requirements. They were especially strong in the field of ESG work, and their fee structure was competitive," Ms. Lonnroth said.
The church launched a search in November for an ESG equity manager.
The €1.5 billion Church Pension Fund's equity allocation is 40%.