Labour Union Co-operative Retirement Fund (LUCRF) has awarded a $220 million World ex-Australia index mandate to Northern Trust Asset Management.
Run by the fund’s international business Northern Trust Global Investments, the mandate includes Environmental, Social and Governance (ESG) factors into an index strategy.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Additionally, the mandate will exclude tobacco companies and cluster munitions manufacturers, in compliance with the United Nations’ Principles for Responsible Investments.
The mandate has been designed to achieve a similar benchmark risk and return characteristics with lower transactions costs compared to a fully replicated strategy.
Roger McIntosh, head of investment at LUCRF, said: "ESG screening is a core component of our investment decision-making process. Northern Trust’s extensive experience managing ESG portfolios, coupled with their ability to provide a customised investment solution, were key factors in our decision."
Bert Rebelo head of business strategy for Australia and New Zealand Northern Trust said: "We’re delighted to work with LUCRF on this landmark mandate which underpins our continuing commitment to supporting superannuation funds across the region."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataLUCRF now has 180,000 members and $4 billion in assets.
