STOCKHOLM, Sweden -- Ohman SalusAnsvar Fonder AB, the Swedish mutual fund company, has selected State Street Global Advisors to subadvise four socially responsible index funds for retail and institutional investors.
The four funds will track the Morgan Stanley Capital International North America, MSCI Europe, MSCI Japan and MSCI Pacific Basin ex-Japan indexes but will not invest in companies that benefit or profit from tobacco, alcohol or weapons.
The funds will be registered with Sweden's Premium Pension Authority, enabling any Swedish worker to invest a portion of salary.
The move represents SSgA's first subadvisory account in Sweden. Ohman SalusAnsvar is jointly owned by the Ohman Group, Sweden's largest independent investment bank, and insurer SalusAnsvar.