Zurich Scudder Investments hired Innovest Strategic Value Advisors to provide social and environmental research to bolster its existing investment process for U.K. equities, said Stephen Cohen, managing director-institutional at Zurich Scudder. Zurich Scudder, which runs £20 billion ($28 million) in U.K. equities 75% of which is for institutional clients integrates social responsibility and environmental considerations into its investment process, evaluating how these issues affect companies and how well management deals with them. "We dont have an ethical or environmental product alone as such, he said.
The firm added Innovest because "the importance of social responsibility factors has continued to rise, and this (hiring) is the latest step in the evolution of our (investment) process, he said.
It is the first time Zurich Scudder has hired a firm to do this kind of research.