ABP Investments, the asset management unit of Stichting Pensioenfonds ABP, Heerlen, Netherlands, hired Innovest Strategic Value Advisors as the provider of socially responsible research for two new ABP portfolios. It is the first move into ethical investing for the 150 billion euro ($128 billion) fund, said René Maatman, ABP general counsel.
ABP will invest $100 million in a U.S. equity portfolio and 100 million euros in a European equity portfolio. Both strategies will be managed internally, using Innovest’s research, which looks for alpha by seeking companies that appear to have the strategic ability to manage social and environment factors.
Mr. Maatman said funding will come from monthly reallocation. He said Innovest was selected from a search conducted by staff.
