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AIG VALIC Broadens SRI Offering

AIG VALIC, an investment provider focusing on the non-profit and for-profit education, health care, and government markets, has broadened the investment mandate of the VALIC Company I Social Awareness Fund.
Reported by Fred Schneyer

A news release said the new mandate for the Portfolio Director fixed and variable annuity would include socially responsible equity opportunities around the world.

According to the company, the newly named Global Social Awareness Fund provides clients with the opportunity to align their investment decisions with personal values and beliefs. It is one of four socially responsible funds VALIC offers in its variable annuity products.

VALIC’s newly expanded global fund will invest in the stocks of primarily large capitalization companies located in developed markets worldwide that meet social criteria established by the fund, according to the company.

This means screening out investment in companies that substantially engage in the manufacture or marketing of alcohol, tobacco, gambling, civilian firearms, military weapons or nuclear power. It will also avoid companies that have poor records concerning employee safety, environmental performance and labor relations, the company said.

The fund’s primary investment goal is long-term capital appreciation. Its performance benchmark is the Morgan Stanley Capital International (MSCI) World Index.The Global Social Awareness Fund, as well as its domestic counterpart, the Socially Responsible Fund, are subadvised by AIG Investments.