Scottish Widows' Master Trust, a U.K. defined contribution multiemployer plan, selected four managers to manage the assets of four newly launched ESG investment options, a spokeswoman confirmed.
BlackRock, Liontrust Asset Management, Baillie Gifford and Robeco were hired to manage the new options, which plan participants can choose over default funds.
BlackRock will manage plan participants' assets through a global equity fund, SW BlackRock Climate Transition World Equity.
Liontrust will manage a multiasset option through SW Liontrust Sustainable Future Managed.
Baillie Gifford will manage a global equity option via SW Baillie Gifford Positive Change.
Robeco will manage global fixed-interest self-select option via SW Robeco Global Credits.
"There's a growing desire among pension scheme members for their retirement savings to be invested responsibly on their behalf. In response, we have embedded responsible investment principles into our default investment strategy. Now we are going further by creating the opportunity for our members to express their preference for responsible investing via our self-select range, " Andrew Warwick-Thompson, chairman of the Scottish Widows Master Trust, said in a news release Tuesday.
Separately, BlackRock will also manage a U.S. equity option for Scottish Widows' Master Trust's participants via SW BlackRock ACS US Equity Tracker.