IRF Communications Challenge 2010 in the Media
December 01 2010
Funds ‘must be able to choose’ how to invest responsibly
Retirement funds should decide for themselves how to invest in a socially responsible way rather than be forced to invest in developmental projects by law, the Institute of Retirement Funds conference heard this week. Andrew Canter, the chief investment officer at asset manager Futuregrowth, addressed the conference on whether or not it is possible or desirable to force retirement funds to invest in a socially responsible way through regulation. Canter says that although the term socially responsible investing (SRI) defies definition and is continually developing, SRI generally refers to investing for returns and for a positive impact on a community. An example would be investing in infrastructure or job-creation projects and stimulating economic growth for the benefit of everyone. Earlier this year, Ebrahim Patel, the Minister of Economic Development, suggested that occupational retirement funds should invest five percent of their assets in a socially responsible way through government development projects.