The University of Dundee said it has completed the transfer of the management of its £31 million endowment portfolio to Greenbank, the specialist ethical, sustainable and impact investment team of Rathbones Group.

“Greenbank are market leaders in sustainable investment management and have a vision to help clients invest their money as a force for good, together championing the transition to a healthier planet and a more equitable society,” said the university.

Peter Fotheringham, director of finance for the University of Dundee, said: “We have appointed Greenbank to manage the University’s endowment portfolio, which currently stands at around £31 million, following a competitive tender process, an exercise which involved staff and students from across the university.

“Greenbank were selected as they demonstrated the strongest ability to deliver sustainable returns, combining strong financial analysis with ethical, sustainable and impact principles, all of which can help us to better align with our own principles and strategic priorities.”

Greenbank investment director Craig Leslie said: “The University of Dundee has made a commendable commitment to a more sustainable approach across their activities, and transparency towards their stakeholders.

“We look forward to partnering with Peter and his colleagues, leveraging our 20-year track record in ethical and sustainable investment to help achieve the university’s objectives.”