Smart Pension, London, a U.K. multiemployer defined contribution plan, selected J.P. Morgan Asset Management's Carbon Transition Global Equity (CTB) UCITS ETF for its default growth fund, a spokesman confirmed Monday.
JPMAM manages about 20% of the master trusts' default growth fund. Smart Pension has £2.8 billion ($3.4 billion) in assets.
The global equity ETF will help the DC plan with its shift to a low-carbon economy and net-zero portfolio by 2040.
The fund is classified as an Article 9 fund, under the European Union's Sustainable Finance Disclosure Regulation, Smart said in a news release.
"We chose J.P. Morgan's Carbon Transition Global Equity (CTB) UCITS ETF because it is committed to companies carrying out simple changes to make a big difference: lowering their carbon emissions, reducing harmful waste and improving their sustainability processes," CIO Paul Bucksey said in the news release.
J.P. Morgan Chase & Co. is an investor in retirement provider Smart Pension. Smart Pension was founded as a retirement provider in 2014. Other investors include Natixis, Legal & General Investment Management, Link Group and Barclays.
