Northern Trust Asset Management loses £120m mandate to Amundi

Northern Trust Asset Management loses £120m mandate to Amundi

Latest asset owner switches managers over climate pullback

Nesta pulls $247m mandate from Northern Trust over climate stance

Uk research and innovation foundation Nesta Trust has transferred £120 million ($247 million) of assets from Northern Trust Asset Management to Amundi after the US manager withdrew from major global climate initiatives, highlighting the growing commercial consequences of fund managers stepping back from climate commitments. The £120 million($247 million) passive global equities portfolio represents more than a quarter of Nesta Trust's £420 milli…

Nesta Moves $160M from Northern Trust Over Net Zero Withdrawal

UK charity endowment manager Nesta Trust announced that it has transferred a £120 million (USD$160 million) investment mandate from U.S.-based Northern Trust Asset Management (NTAM) to European asset manager Amundi, stating that the move is a “direct consequence” of NTAM’s departure from climate-focused investment groups Net Zero Asset Managers Initiative (NZAMI) and Climate Action 100+ (CA100+).Nesta Trust said that the decision to transfer ass…

Northern Trust Loses $160 Million Mandate to Amundi Over Exit from Climate Groups

UK charity endowment manager Nesta Trust announced that it has transferred a £120 million (USD$160 million) investment mandate from U.S.-based Northern Trust Asset Management (NTAM) to European asset manager Amundi, stating that the move is a “direct consequence” of NTAM’s departure from climate-focused investment groups Net Zero Asset Managers Initiative (NZAMI) and Climate Action 100+ […]