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Friday Funds: Saudi Arabia to launch ESG index

The latest developments in ESG-related funds

Saudi Arabia's stock exchange, TADAWUL, in cooperation with MSCI, aims to launch an ESG index by the beginning of 2021. The index will include at least 70 Saudi-listed companies and will be based on the global index provider’s standards.

Baillie Gifford has launched the Worldwide Health Innovation Fund, managing £16.2m, with seed investment from Guy’s and St Thomas’ Charity, one of the UK’s oldest and largest health charity foundations. The investment firm’s fund, currently available as a Dublin-registered pooled fund (UCITS), invests in companies seen to be tackling the world’s big health challenges, including diseases, pandemics and access to medicine.

The Native American Agriculture Fund (NAAF) has selected Neuberger Berman to serve as its Investment Manager. NAAF is the largest philanthropic organisation devoted solely to serving the Native American farming and ranching community.

MSCI has published two climate change indexes that allow investors in China stocks to tilt toward companies with lower carbon emissions. The MSCI China Climate Change Index and China A Climate Change Index are based on the MSCI China Index and the MSCI China A Index. 

Investment firm, S.P. Hinduja Banque Privée has launched two ESG funds: the ESG Certificate Fund and the Climate Action Actively Managed Certificate Fund. The former invests in a concentrated portfolio of developed-markets companies with high ESG risk assessments, while the latter selects stocks that support climate innovations and solutions.

Evli has launched its first green corporate bond fund, investing in the European investment grade and high-yield segments, as well as unrated bonds up to a maximum of 20% in order to include Nordic corporate bonds. The Evli Green Corporate Bond fund is managed by Juhamatti Pukka, Head of Fixed Income at Evli.

Fitch Ratings has assigned The Sterling Conservative Ultra Short ESG Fund, managed by Northern Trust Asset Management, a Fund Credit Quality Rating of 'AAf' and a Fund Market Risk Sensitivity Rating of 'S1’. The fund excludes weapon and tobacco producers, violators of the UN Global Compact, and those involved in notable ESG controversies.

China Construction Bank (CCB) has listed two green bonds of $700m and $500m on Nasdaq Dubai. The first bond matures in 2025, with a coupon 1.25%, while the latter will mature in 2023, with a coupon of 1%.