Domini Social Investments has been selected to manage a socially responsible account within the City of New York Deferred Compensation Plan, which contains more than $190 million in assets.
The socially responsible investment provider will manage a separate account that aims to mirror the performance of the Domini 400 Social Index, the companys proprietary index. New Yorks social account has been available to more than 180,000 New York City employees through the citys 457 plan, Domini said in a statement. It will now be available to an additional 250,000 investors through the citys new 401(k), the company said.
The company has been added to other large retirement plans in the last year as well, including the Commonwealth of Massachusetts Deferred Compensation Plan, which contains more than $2.8 billion in assets; Californias Savings Plus deferred compensation plan, which includes more than $4.7 billion in assets; and the Ford Motor Company 401(k), which contains more than $17 billion in assets.
Domini oversees more than $1.8 billion in assets for individual and institutional investors, the firm said.