Top ethical investment manager to oversee UCL endowment fund

UCL's finance committee has approved the appointment of a highly-rated ethical investment manager to help oversee the university's endowment funds, which are now worth approximately £160m. CCLA, rated A+ by the UN's Principles for Responsible Investment (UN PRI) survey, will manage half the fund alongside Sarasin, which has hitherto been the sole manager of the funds. From a financial perspective, the move is in recognition of the significant increase in the value of the endowment in recent years and to spread manager risk. UCL also regards it as a significant decision in adopting a stronger position on the ethical underpinning of our investment strategy. Both managers will adopt a more active stance on a range of ethical issues including climate change. This will mean that UCL will divest from companies that fail set criteria or decline to engage actively on these issues. CCLA has developed what it describes as an "integrated approach" to considering climate in its management of funds.