Responsible Funds, November 30: Strong returns for Gabelli SRI Green Fund

The round-up of responsible funds news

The $53.6m (€41.2m) Gabelli SRI Green Fund has returned 13.99% in the year to November 29 and 12.68% over the one-year horizon. The fund, managed by Christopher Desmarais, Kevin Dreyer and Christopher Marangi, seeks to provide capital appreciation while employing social and sustainability criteria for stock selection. Over three and five years it has returned 7.08% and 5.08% respectively. Its top three holdings are Nestle SA, Dialight Plc and CF Industries Holdings Inc. Link

US sustainable funds firm Calvert Investments is changing the name of its Enhanced Equity Portfolio fund to Calvert Large Cap Core Portfolio, according to a filing. There will also be a new investment policy to invest 80% of its assets in large-cap equities. The fund seeks to outperform the Russell 1000 Index investing in companies which meet financial, sustainability and social responsibility criteria.

Swiss asset manager Pictet’s £190m Clean Energy fund has shifted its focus from the troubled solar and wind sectors to energy efficiency, according to a Citywire report citing co-manager Luciano Diana. The energy efficiency theme now represents just over half the fund’s holdings, the report stated, adding that natural gas is also a theme.

GAIA Capital Advisors, the Geneva-based investment company, has teamed up with EFG International Finance, to launch an investment vehicle focusing solely on listed farming companies globally. Book building is now open and is set to close on December 12, according to alternative investment site Opalesque.Australian Ethical’s A$143.6m (€115m) Larger Companies Trust, which aims to provide long-term growth through investment in listed companies on Australian and international exchanges that meet the Australian Ethical Charter, has returned 7.2% over the three months to the end of October and 9.8% over the one-year horizon. The portfolio, managed by David Macri, Australian Ethical’s Chief Investment Officer, has outperformed its benchmark by 0.4% pa since inception after fees and only consists of companies that have passed Australian Ethical’s positive and negative screens.

RWC, the UK-based active investment manager founded in 2000, says it will launch a new Cayman Fund to be managed by the European Focus team that recently joined from Hermes. The team of six is headed up by Maarten Wildschut and Petteri Soininen and is currently responsible for just over $300m in assets in a Constructive Activist, pan-European equity fund. The strategy has a capacity of up to $1bn and the new fund will take the form of a Cayman master-feeder fund. Link

Henderson Global Investors has shuttered its Luxembourg-domiciled US Opportunities Fund as part of a broader consolidation, according to reports. The $11.8m fund had been managed by Brandon Geisler.

New York-based mutual fund group Liberty Street Advisors has launched the Global Agri, Timber and Infrastructure Fund, which will be sub-advised by boutique firm Capital Innovations. The new fund will be co-managed by Michael Underhill and Susan Dambekaln.