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Desjardins Funds announced today that it has become a signatory to the United Nations’ Principles for Responsible Investment (PRI).

The PRI initiative was created through the United Nations Environment Programme Initiative (UNEP FI) and the UN Global Compact in 2006 by a group of investors from 16 different nations with assets under management totaling $3 trillion. The six principles involved strive to make long-term investment goals of institutional investors align with social responsibilities such as environmental, social and governance (ESG) investment practices.

Desjardins Funds first became involved in socially responsible investing (SRI) in 1990 with the launch of the Desjardins Environment Fund. Desjardins also introduced its SocieTerra Portfolios range of SRI funds, which respect ESG principles, in 2009.

By becoming a signatory of the PRI, Desjardins aims to establish itself as a leader in Canada’s responsible investment movement.

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BMO hires five managing directors in U.S.

BMO Capital Markets has hired five new managing directors for its U.S. operations.

“These latest additions to our ream are part of the 90 senior professionals who have joined BMO Capital Markets since 2009,” said Perry Hoffmeister, head of BMO Capital Markets’ U.S. investment and corporate banking. “All of these partners bring tremendous experience, enthusiasm and industry-leading expertise to sectors where we continue to build competitive, differentiated positions and reinforce our exceptional focus and commitment to our clients.”

The most recent round of hires consists of Ben Adams, joining as managing director in the healthcare group based in New York; Mike Jones as a member of the M&A group in Chicago who will focus on the food and consumer sector; Christopher Marlowe, as managing director of the financial sponsors coverage group in San Francisco; Greg Melconian joins the industrials coverage team in New York; and Brett Skolnik, who will work in the M&A group in New York and focus on the healthcare sector.

Together, these five new BMO Capital Market employees have nearly 70 years of investment and corporate banking experience.

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Institutional investor confidence falls in April

The State Street Investor Confidence Index for March 2010 has been released by State Street Global Markets, the investment research and trading arm of State Street Corporation.

The index shows that institutional investor confidence fell 7.7 points globally from 107.4 to 99.7. North America saw the largest regional decline, falling 6.7 points from 110.4 to 103.7. Investor confidence is also down in Asia, with the index showing a 6.5-point decline from investors in that region. Europe saw a 1.2-point increase, from 94.7 to 95.9, for the month.

The State Street Investor Confidence Index measures investor confidence on a quantitative basis by analyzing the actual buying and selling patterns of institutional investors.

“This month we saw institutional appetite for risk wane slightly, as volatility bounced back from the extremely benign levels seen in March,” said Harvard University professor Ken Froot, co-developer of the index. “This was especially true towards the latter half of April…It remains to be seen whether this is a temporary pause, or an indication of a shift in the central theme of the last year.”

(04/28/10)