Mistra publishes a summary of its 2008 review of external asset managers
Mistra, The Foundation for Strategic Environmental Research, has published a summary of its 2008 review of external asset managers. The review, which was carried out by onValues on behalf of Mistra, investigated the steps forward taken by Mistra's asset managers in their integration of ESG issues into investment decision-making and active ownership. Following the review detailed feedback was presented to Mistra's investment committee, and constructive criticism shared with the asset managers. The public summary (downloadable below) summarises the key findings as a measure of transparency and accountability to Mistra's stakeholders.
The 2008 review, the fourth of its kind, observed that in most cases the ESG component had a positive or no effect on financial return, with risk levels that were in line with the reference portfolio chosen by the manager. The strong showing of Mistra's managers on active ownership was also notable, with 66% of the managers receiving the top rating for engagement with companies on ESG and broader strategic issues.
Mistra's endowment, which is currently valued at SEK 2.8 billion (US$ 350 million), is invested through eleven mandates and funds managed by eight different asset managers. All the investment management agreements explicitly require the manager to take account of environmental, social and governance issues.Download the «Public summary report»