Responsible Funds, November 25: the round-up of ESG funds news

RI fund launches, closes and asset data.

Jupiter Green Investment Trust, which invests in companies providing environmental solutions, has changed the way it describes the opportunities within the green investment universe. It will no longer refer to six green investment themes, but prefer three broad categories – infrastructure, resource efficiency and demographics. Total assets of the trust fell by 19.3% in the six months to the end of September to £32.7m (€38.2m) Link

Tallinn-based Limestone Investment Management says its New Europe SRI fund, which integrates sustainability analysis and investing in new European Union member states, has been selected by the Movestic Livförsäkringar fund platform in Sweden.

UK-based funds firm Meteor Asset Management is targeting an £50m (€58.5m) size for its new Clean Energy Fund, according to a report in Carbon Finance. The fund will invest in carbon offsetting schemes and aim for returns of 10-15% a year. Link to Meteor

A fund focuses on agricultural land in Bulgaria is to close, according to reports. The six-year-old Elarg Agricultural Land Opportunity Fund plans to put a proposal to shut down to investors in February next year, according to a report in Agrimoney. “The negative tendencies persisting on the stock exchange call for a different solution,” fund director Andrei Kruglykhin was quoted as saying.The ISIS fund, the Women’s World Banking (WWB) vehicle to support microfinance institutions, has received $4.1m of finance from the Inter-American Development Bank (IADB). More details on the fund and WWB Chief Executive Mary Ellen Iskenderian are available here.

Luxembourg-based Solar Investment Group (SIG) says is looking to raise €500m-€1bn for its new Real Asset Energy Fund (RAFE), which will invest in renewable power plant assets meeting specific criteria. SIG already has more than €200m invested in renewable energy opportunities.

DIF Management Holding, the Dutch infrastructure asset management firm which is a signatory to the UN Principles for Responsible Investment, is currently raising a third infrastructure fund, according to Infrastructure Investor. DIF also invests in onshore wind and solar energy projects throughout Europe.

The Skandia Ethical Fund is one of 17 Skandia Investment Group funds that has been launched on the Novia wealth management platform. Skandia is the funds arm of Old Mutual’s wealth management division.

The Department for Business, Innovation and Skills (BIS) in the UK has launched the second phase of its £60m Growth and Innovation Fund (GIF). The department will contribute £34m.