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Lombard Odier-Generation fund tie-up tops SRI sales

Blackrock maintains ‘green’ fund lead in sales.

The recent SRI funds tie up between Lombard Odier Darier Hentsch and Generation Asset Management is bearing fruit in terms of funds sales with the LODH Horizon The Generation Global Fund, the biggest selling European SRI fund in December 2007, according to figures compiled for Responsible Investor by Lipper FERI, the investment data group.
Earlier this month, Responsible Investor revealed that Generation Investment Management, the high-profile fund manager set up by Nobel Peace Prize winner and former US Vice-President Al Gore, and David Blood, the ex-Goldman Sachs investment chief, was preparing to close its main $4bn (€2.7bn) equity fund to new money after new business had prompted a review of liquidity in the companies it invests in.
The Lombard Odier/Generation fund’s estimated net sales for December, 2007 were €189m, more than double that of the second best selling SRI mutual fund, the KBC EquiPlus Head Start Sustainables 01 fund, which sold €81.9m. The third biggest selling fund was Petercam’s Bonds Government Sustainable fund with €64m.
Under the Lipper Feri classification, funds are flagged as SRI only if the underlying securities in the portfolio haveundergone complete environmental, social and governance screening.
AGF, the French funds subsidiary of Allianz Global Investors, continues to manage Europe’s largest pure SRI classified fund, AGF Valeurs Durables, with assets of €1.44bn ($2bn). The second largest European SRI fund is F&C’s Stewardship Growth fund with €1.15bn in assets
In the ranking for funds investing in sectors with so-called ‘green’ themes such as the environment, water, climate change and renewable energy, the biggest grossing green fund for December was Blackrock’s Luxembourg-domiciled MLIIF– New Energy Fund with sales of €213.2m
Pictet’s Clean Energy fund was the second best selling green fund for December, grossing €107.4m. Third spot in sales went to Sarasin Investmentfonds New Power Fund with €51.9m.
In terms of overall assets the biggest ‘green’ fund remains Blackrock’s MLIIF– New Energy Fund with €5.39bn in assets. In second place is Pictet’s Water Fund with just over €4bn in assets. Third in size is Julius Baer’s SAM Sustainable Water Fund with €1.86bn in assets. See downloadable documents