Responsible Funds, June 28: Climate Investor One hits €850m raise

Climate Investor One, a fund which invests in renewable energy projects for the emerging markets, has announced a final close at $850m. The fund – managed by Dutch development bank FMO – has exceeded its original target of $530m after a two-year fundraising period and four previous closes, notably receiving $100m from the Green Climate Fund (GCF).

The Long-Term Asset Fund is a proposed new open-ended fund structure would have the ability to invest in less liquid or illiquid assets, such as property and infrastructure projects, and incorporate high standards of customer protection. It is being put forward by the Investment Association, the UK fund management trade body, as part of its vision of the future of the industry. The ‘2025 Vision’ report, was launched at the IA’s flagship annual Policy Conference, also called for a “more value-focused industry in which sustainability and stewardship are at the forefront, particularly in the context of the challenge of global climate change”.

Denmark: DKK115bn (€15.4bn) mutual pensions provider AP Pension is launching a new product to let savers contribute to the energy transition and the UN Sustainable Development Goals. All bonds in the new AP Sustainable offering would be green bonds, while the equities portfolio – run by BankInvest – would comprise only companies generating at least 60% of their revenue from SDG-linked activities.

BlackRock has launched an ESG version of its €2.6bn BSF Euro Corporate Fund which is to be managed by Tom Monderlaers, who also oversees the parent fund. It will invest 90% of its total assets in accordance with its ESG policy which sets a threshold for issuers of BB or higher according to MSCI’s ESG Intangible Value Assessment Ratings or MSCI ESG Sovereign Ratings and a score of one or above as defined by MSCI’s ESG Controversies. The fund has other broad norms-based exclusions in place.Wellington Management has launched a UCITS fixed income fund focused on delivering positive impact on global social and environmental challenges. The Wellington Global Impact Bond Fund invests across all sectors and aims to provide a return profile that is similar to the global fixed income universe, which is said to make it suitable as a core holding. The fund is managed by Campe Goodman who is a member of Wellington’s Broad Markets Team.

Trium, an alternative investment boutique, has launched the Trium ESG Emissions Impact Fund which has a portfolio of “companies that fly under the radar of most ESG investors”. The fund invests in high-emitting sectors while actively engaging company management to reduce emissions. It is tilted toward European stocks in the energy, materials, utilities and industrial sectors.

ImpactAssets, a non-profit financial services company, has announced that its donor advised fund, The Giving Fund, has topped $1bn in value on its tenth anniversary. The firm has more than doubled its assets since the end of 2018 under its impact investing platform which utilises a number of strategies including direct deals, private debt, equity funds and blended portfolios.

Rest Super, an Australian retail superannuation fund, is now the sole owner of Western Australia’s largest wind farm after acquiring a 60% stake from UBS Asset Management. The Collgar Wind Farm generates, on average, between 40-50% of the state’s renewable electricity and Rest has owned a stake in the facility since construction began in 2010.

The UK overseas aid agency, Department For International Development (DFID), has put out a Request for Proposal for investments in early-stage impact funds in India. Fund managers can apply here (ref: PO 8585).