Scottish Widows invests £500m in BlackRock ESG fund

The firm is the first investor in BlackRock's new fund, with the provider initially allocating £500m from across its retirement proposition. The initial investment into the ESG fund is being allocated from some of Scottish Widows' multi-asset funds, including those used in its workplace defined contribution default solutions. BlackRock's ESG fund - managed by its index fixed income portfolio management team - was set up to provide exposure to global investment grade bonds, with the aim to achieve certain ESG-related objectives, many of which are tied to Scottish Widows' approach to re...