Queen’s University Belfast has announced the appointment of Legal & General (L&G) as its new investment manager, marking a significant step in the University’s commitment to responsible investment and sustainability.
The decision follows a comprehensive tender process aimed at aligning the University’s investment strategy with its Responsible Investment Policy, which prioritises environmental, social, and governance (ESG) principles and specific exclusions, including fossil fuels and companies listed by the UN Human Rights Council.
The appointment of a new Investment Manager follows a number of enhancements to the University’s Responsible Investment Policy as agreed with the Students’ Union. The Responsible Investment Policy has enhanced the student role in the University's overall decision-making structures and governance as well as strengthening the commitment to exclude companies involved in the extraction and production of fossil fuels in its investments.
L&G, one of the UK’s largest pension and charity fund managers, brings extensive experience and leadership in responsible investment. L&G will manage both Queen’s endowment and general funds through a cost-effective, passive investment approach designed to reflect the University’s long-term objectives.
Speaking about the new partnership, President and Vice-Chancellor Professor Sir Ian Greer said:
"This partnership is a significant step in our commitment to enhancing impact as outlined in our Strategy 2030 while meeting our financial objectives responsibly.
“This will be central to our ambition of achieving net zero emissions by 2040, enabling us to manage portfolios effectively while embedding sustainability at its core.”
Mark Johnson, Head of UK – Institutional & Wholesale, Asset Management, L&G, said: “We are delighted to be entrusted by Queen’s University Belfast to invest their assets for the long-term financial security of the University and its pension obligations. This partnership demonstrates our commitment to provide solutions for clients and in a cost-effective way, enabling them to focus on the issues that matter to them and their stakeholders.”
Queen’s Students’ Union President Amy Smith added: “We welcome the appointment of the new Investment Manager, and the increased commitment to student voice, following many years of campaigning by our students for a more socially responsible approach to university investments."
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