The Missouri Investment Trust, Jefferson City, will invest $5 million in State Street Global Advisors' International Alpha Select Fund, confirmed Mark Hughes, spokesman for state Treasurer Sarah Steelman. The investment, an enhanced index fund that screens for stocks of companies that have ties to terrorist states or U.S.-sanctioned nations, replaces an MSCI EAFE index fund also run by SSgA. Fund officials issued an RFP in October.
The new investment protects the value of the fund because investments with links to terrorism put fund holdings at risk, said Ms. Steelman. She is also chairman of the board for the trust, a $23.4 million state fund designated by lawmakers for the arts and humanities.
SSgA will subcontract with consulting firm Conflict Securities Advisory Group to identify stocks with global security risk.