|Inflection Point Capital Management has been awarded a four-year general consultancy contract by the Ministry of Finance, Norway, to assist with strategic thinking, analysis and data around responsible investment for the Government Pension Fund Global (GPFG) and the Government Pension Fund Norway (GPFN), covering global and domestic investments.
Two additional companies, MSCI Barra and McKinsey & Company, have been awarded four-year consultancy contracts by the Ministry covering investment strategy, follow-up and development of the management framework.
The main focus of the work for IPCM will be to assist the Ministry in operating and developing the responsible investment practices for the GPFG and the GPFN.
Dr Matthew Kiernan, IPCM Founder and Chairman, commented: “We are delighted that the Ministry selected IPCM against tough competition. This is certainly an exciting project and we are thrilled to be working with an investor that has helped to define some of the most forward-looking thinking in the global responsible investment field, including deepening the understanding of the responsibilities and challenges inherent in being a universal owner.”
IPCM, an FCA-regulated, London-based firm, is just 18 months into a joint venture with the Paris-headquartered Groupe La Française, a multi-asset class manager with nearly €50 billion under management. IPCM’s Strategically Aware Investing (SAI) approach underpins a range of funds approaching €1 billion in assets managed by the asset management arm of the IPCM-GLF joint venture, La Française Inflection Point (LFIP). In June 2015 LFIP launched a Carbon Zero Fund seeded with €25 million by GLF and based on IPCM’s research, methodology and proprietary analysis.
Paul Clements-Hunt, the original United Nations supporter in 2003 of the UN-backed Principles for Responsible Investment (PRI), added: “The Ministry of Finance, Norges Bank Investment Management (NBIM) and the Council on Ethics have been at the very forefront of the most ground-breaking responsible investment work over the past decade. Their work on children’s rights and water issues are world leading.”
Clements-Hunt added: “It’s safe to say that the PRI would not have achieved the credibility and status it has gathered globally this past decade without early Norwegian support.”
Clements-Hunt, a Founding Board member of the PRI, now backed by 1380 investment institutions worldwide representing US$59 trillion in assets, and former head of the United Nations Environment Programme Finance Initiative, is an IPCM Director.
About Inflection Point Capital Management
Inflection Point Capital Management UK Ltd is a UK FCA regulated entity, incorporated on 13 November 2013 with Company Registration Number 8773186.
La Française Inflection Point (LFIP), is a French regulated company, registered with the Autorité des Marchés Financiers under the number 412 382 632 RCS Paris. LFIP is 49% owned by IPCM UK. La Française Group is an investment management business that is majority-owned by Crédit Mutuel du ord Europe, a French cooperative bank. La Française currently manages around €46 bn across multiple asset classes and brings significant compliance, risk management and financial analytical capacity to the LFIP joint venture. La Française Group, through its securities branch La Française AM, holds 51% in LFIP and 49% in IPCM.
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