UK Pension Moves £28 Billion to Amundi, Invesco Citing ESG
UK pension master trust the People's Pension has awarded two mandates totaling £28 billion ($35.5 billion) to Amundi SA and Invesco Ltd., citing their sustainability and responsible investment credentials.
The People's Pension has awarded £20 billion of assets to Amundi to passively invest in developed market equities, while Invesco will take over £8 billion in active fixed income investments, according to a statement Thursday. The mandates were previously overseen by State Street, which is among several Wall Street giants that have quit the Climate Action 100+ coalition that pushes companies to reduce carbon emissions.
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