Interview: Saudi's SEDCO Capital looking to create its own ethical fund | ZAWYA MENA Edition:
A decision taken last year by one of Saudi Arabia's biggest asset managers to adopt a new Prudent Ethical Investing strategy has already had a significant effect on its investment decisions, with the firm now sizing up the launch of a new ethical fund, the company's senior director of business development has said.
In an interview with Zawya on the sidelines of the Global Islamic Economy Summit on October 31, SEDCO Capital’s Ayman Al Bashir said that the Jeddah-based asset management firm has already reviewed its line-up of existing asset managers, and no longer invests with firms unless they are either signatories to the United Nations-based Principles for Responsible Investing (PRI), or have an environmental, social and governance layer within their investment offerings.
"In the past, we used just to follow performance. So this is a new change. Any active manager has to have one of these two options," he said.
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