Four Swedish AP funds selected Ethix SRI Advisors, GES Investment Services and Sustainalytics for ESG analysis and advisory services, confirmed Nadine Viel Lamare, spokeswoman for AP1, Stockholm.
Also, Northwest & Ethical Investments was selected for environmental, social and governance advisory services only.
All of the managers are expected to sign “framework agreements,” which allow each of the four AP funds the ability to hire any of the consultants when services are needed, Ms. Lamare said.
Previously, GES Investment Services was the sole provider for all four funds, with 812.2 billion Swedish kronor ($116.8 billion) in assets.
An RFP was issued in June. The search was coordinated by the Ethical Council, a committee formed by the funds to coordinate work on ESG issues.
As of June 30, AP1’s assets were 202.6 billion kronor; AP2, Gothenburg, 204.8 billion kronor; and AP3 and AP4, both of Stockholm, 208.6 billion and 196.2 billion, respectively.