BMO GAM Lands Responsible Investment Mandate with NZ Crown Financial Institutions
BMO Global Asset Management, part of BMO Financial Group, was appointed by the New Zealand Superannuation Fund (NZSF), Accident Compensation Corporation and Government Superannuation Fund to provide responsible investment engagement services globally. Combined, the three crown institutions manage US$ 41 billion. BMO provides a global engagement service called reo® in which the services are applied to around US$ 106.5 billion assets as of December 31, 2014.
The NZSF sees environmental, social and governance (ESG) factors as essential when generating long-term investment returns. The superannuation fund plans to work with BMO Global Asset Management to enhance the reach and effectiveness of its global engagement initiatives. By having external assistance, the NZSF can focus on New Zealand company engagements.
Barry McInerney, Co-CEO, BMO Global Asset Management, said in a press release, “We believe in generating long-term value for our clients, and so we are very pleased to be working in partnership with the CFIs in using their ownership rights to support the sound management of ESG factors at companies. This is part of a wider industry trend with institutional investors increasingly interested in encouraging companies to reduce their business risks, and holding them to account. Responsible investment is a part of what defines BMO Global Asset Management and will continue to be a core area of our business.”
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