Legg Mason joins RIAA
Legg Mason has strengthened its commitment to responsible investing by joining the Responsible Investment Association Australasia (RIAA).
RIAA has a network of over 220 members who manage jointly more than $9 trillion in assets globally, including super funds, fund managers, consultants, researchers, brokers, impact investors, property managers, community banks, community trusts, faith-based groups, financial advisers and individuals.
Legg Masons’ country head Australia and New Zealand, Andy Sowerby, said the group integrated ESG factors into its investment processes and by embedding certain ethical restrictions into product structures.
“Today, we offer dedicated ethical investment solutions covering both equity and bond markets and we firmly expect that both interest and innovation in this area will only continue to grow,” he said.
“We believe that RIAA plays an important role in promoting best practice in responsible investment and we look forward to putting forward a number of our funds to be considered for RIAA certification.”
AUTHOR
Oksana Patron
Recommended for you
Sydney-based alternative fund manager East Coast Capital Management has formed its first advisory council as it enters its next phase of growth.
With 40 per cent of advice practices looking to increase their ETF usage, the next frontier being embraced is smart beta ETFs with flows doubling in July, providers have said.
Australian ETFs saw flows of $5.8 billion in July, more than double the previous month, and adviser adoption is tipped to help total flows reach $50 billion by the end of the year.
Pinnacle’s London affiliate, Life Cycle Investment Partners, has secured over $15 billion in FUM in its first year and achieved profitability, the firm’s fastest affiliate to do so.
