Sustainable fund developed by Varma listed on London Stock Exchange
Varma has invested EUR 200 million in the ETF it has developed together with LGIM and Foxberry. The ETF is listed on the London Stock Exchange.
“We could not find an investment product that suited our ESG criteria for responsible investment, so we decided to develop one in collaboration with LGIM and Foxberry. As the responsible investment sector grows, the development of index funds with an increasingly responsible tilt is key, and they are precisely where change is needed,” says Timo Sallinen, SVP, Investments.
The ETF designed by Varma allocates to European equities and takes sustainability criteria into consideration. Companies that are selected as investees are assessed based on how well they take environmental, social and governance issues into account in their operations.
Tobacco companies, industries that manufacture controversial weapons and companies whose operations are based to a large extent on the use of coal and which have the highest emissions and significant fossil fuel reserves are excluded from the index.
The index also does not include companies that have breached international agreements and standards, concerning for instance respect for human rights and the use of child labour.
“Alternatives are needed for exclusion-based products. We also believe that co-operation between stakeholders goes a long way in promoting responsible investment. Many investors on their own may lack the resources to thoroughly look into companies for exclusion purposes,” Sallinen points out.
“Sustainability is integrated into Varma’s investment operations, and we also want to actively develop sustainable investment options. With this product, one of our main goals is to reduce the carbon emission of our investment portfolio," says Sallinen.
Further information:
Timo Sallinen, Senior Vice-President, Investments, listed equities, tel. +358 40 543 9587, firstname.lastname@varma.fi
Marjut Tervola, Communications Manager, tel. +358 45 673 0120, firstname.lastname@varma.fi
Avainsanat
Tietoja julkaisijasta
Varma Mutual Pension Insurance Company is a responsible and solvent investor. The company is responsible for the statutory earnings-related pension cover of some 900,000 people in the private sector. Premiums written totalled EUR 5.1 billion in 2018 and pension payments stood at EUR 5.7 billion. Varma’s investment portfolio amounted to EUR 46.5 billion at the end of June 2019. More information about Varma is available on: https://www.varma.fi/en
Foxberry is a London based index provider. Foxberry offers expertise concerning all aspects of index management, providing structuring, analysis and technological capabilities typically only found within the top tier investment banks, but as an independent partner. As such, Foxberry offers their clients some of the key benefits found with fiduciary managers. Foxberry is authorised and regulated by the FCA and registered under the EU benchmark regulation. More information about Foxberry is available on: https://www.foxberry.com. For press enquiries, please contact press@foxberry.com.
Legal & General Investment Management is one of Europe’s largest asset managers and a major global investor, with total assets under management of £1.1 trillion1. We work with a wide range of global clients, including pension schemes, sovereign wealth funds, fund distributors and retail investors. Throughout the past 40 years we have built our business through understanding what matters most to our clients and transforming this insight into valuable, accessible investment products and solutions. We provide investment expertise across the full spectrum of asset classes including fixed income, equities, commercial property and cash. Our capabilities range from index-tracking and active strategies to liquidity management and liability-based risk management solutions.
1LGIM internal data as at 30 June 2019. These figures include assets managed by LGIMA, an SEC Registered Investment Advisor. Data includes derivative positions
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