Searches and Hires

Scottish Borders allocates $13 million to Morgan Stanley ESG fund

Scottish Borders Council Pension Fund, Newtown St. Boswells, Scotland committed 10 million ($13 million) to Morgan Stanley (MS) Investment Management's global sustain equity strategy, a spokeswoman said.

"The 10 million was an initial allocation and we foresee to allocate more to the strategy," the spokeswoman said.

Morgan Stanley's global sustain strategy invests in companies whose core businesses do not involve tobacco, alcohol, adult entertainment, gambling, gas and electric utilities or bulk commodities, including fossil fuels, and metals and mining.

Scottish Borders Council Pension Fund, which has 711 million in assets, allocates just over 40% of its assets to U.K. and global equity investments.