FINANCE NEWS: Ethical Investment Research Service picks up fund prize

Ethical Investment Research Services has won a prize in a competition to find new ideas on long-term pension fund management.

Eiris was one of five winners of the non-corporate prize in the contest run by the Universities Superannuation Scheme, the third largest pension fund in the UK.

The Eiris entry argued that pension funds should establish clear scoring systems to measure the ethical or socially responsible value of the assets they invest in.

It also advocated setting clear targets for fund managers to use their influence to bring about improvements in companies' environmental and ethical performance, and that their fees should reflect their socially responsible investment achievements as well as financial performance.

Eiris executive director Peter Webster said: "We hope that when people look back in five years time ,this competition will be seen to have played an important part in a more general cultural shift in the world of pension funds towards a genuinely responsible and long-term approach."

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