State Street Debuts First ESG Money-Market Fund
July 02 2019 - 10:21AM
Dow Jones News
By Dieter Holger
State Street Global Advisors, the investment-management arm of
State Street Corp. (STT), has launched its first money-market fund
using an environmental, social and governance strategy.
The new State Street ESG Liquid Reserves Fund is a mutual fund
that uses the asset manager's new in-house ESG scoring system to
assess positions in short-term cash investments such as
certificates of deposit, commercial paper, treasuries and
repurchase agreements, State Street said Tuesday. The fund has a
floating net asset value and is domiciled in the U.S.
State Street's fund follows in the footsteps of DWS Group GmbH
& Co. KGaA (DWS.XE), which launched the first ESG money market
fund in the U.S. late last year using proprietary ESG software.
"As appetites for ESG investment opportunities continue to grow,
institutional investors need options across all asset classes," Pia
McCusker, global head of cash management at State Street, said.
Write to Dieter Holger at dieter.holger@dowjones.com;
@dieterholger
(END) Dow Jones Newswires
July 02, 2019 10:06 ET (14:06 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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