UBS Asset Management has launched a global sustainable fund, Citywire Switzerland can reveal. This comes as part of a wider push for responsible investing, which saw the group hire a new team to help steer the offering earlier this year.
The new Luxembourg-domiciled fund, the UBS (Lux) Equity SICAV – Global Impact fund, was launched on 13 October 2017.
Bruno Bertocci, head of the sustainable equity investors team at UBS AM, is managing the fund. The Citywire + rated manager also runs the UBS (Lux) Eq Fd – Global Sustainable fund and the UBS (Lux) Eq SICAV – Long Term Themes fund.
The strategy targets attractively valued companies with a strong sustainability profile in both developed and emerging markets around the world.
As outlined in the key investor information document, the companies targeted provide solutions via their products and services to significant global challenges, including climate change, air pollution, clean water and water scarcity, treatment of disease and food security.
Earlier this year, UBS hired a team that specialises in sustainable investments to lead the push for responsible investing in its asset management arm.
In January 2017, the group revealed a blueprint for launching thematic and pooled investment funds. In a white paper, the Swiss giant made a commitment to direct at least $5 billion of client assets into UN Sustainable Development Goals-related impact investments over the next five years.
The fund amassed $4.78 million in assets by 23 October over the ten days since its launch.