Innovest, SSgA Launch Environmental Equity Fund

September 23, 2004 ( - Investment managers looking for an environmentally conscious mutual fund now have a new option from which they can choose.

State Street Global Advisors (SSgA) and Innovest Strategic Value Advisors said in a news release that they had launched the US Core Environmental fund to focus on US large-cap equities.

The companies said in the announcement that the fund launch grew out of SSgA tests that found that Innovest’s screens for environmentally sensitive firms created healthy investment returns when combined with existing SSgA models.

“Institutional investors such as the members of the Investor Network on Climate Risk are becoming increasingly concerned about the financial impacts of strategic environmental issues on their investment portfolios,” said Innovest CEO Matthew Kiernan in the announcement. “Perhaps even more importantly, as prudent fiduciaries, they are increasingly ready to move beyond concern to take concrete actions to minimize portfolio risk and maximize investment returns. “

More information about Innovest is at Additional details about SSgA are at .