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Russell rolls out low carbon fund

Wednesday, October 25th 2017, 8:55AM

Russell Investments has launched a Low Carbon Global Shares Fund in response to client demand for a fund that supports management of climate-change risk and the transition to a low carbon economy.

The fund has raised $378 million in seed money, and has tilts towards companies with positive environmental, social, and governance (ESG) characteristics more broadly, ensuring the final
portfolio passes a ‘common sense’ test of what investors expect from a sustainable low carbon solution.

It is designed with Russell’s proprietary ‘decarbonisation’ investment strategy, and reflects the approach taken in existing bespoke institutional mandates. It targets a reduction in carbon footprint and carbon reserves of 50%, relative to the MSCI ACWI benchmark (ex-Australia). It aims to maintain performance in line with that benchmark, with a low tracking error of less than 1%. It does this by avoiding the asset, sector and industry biases that can occur with a pure divestment approach.

“This rules-based solution is designed to help clients meaningfully reduce exposure to carbon-intensive holdings and invest more in carbon-friendly and renewable energy opportunities, all without materially affecting performance,” Russell Investments portfolio manager James Harwood says.

The fund excludes sectors including cluster munitions, nuclear weapons componentry and anti-personnel mines.

Tags: ESG responsible investing Russell Investments

« PAA AGM fails to hit quorumSmartshares hits $2b FUM »

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AIA - Go Home Loans ▼7.49 5.99 5.69 5.69
ANZ ▼7.39 ▼6.39 ▼6.19 ▼6.19
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
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BNZ - Mortgage One ▼7.54 - - -
BNZ - Rapid Repay ▼7.54 - - -
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CFML 321 Loans 6.20 - - -
CFML Home Loans 6.45 - - -
CFML Prime Loans 8.25 - - -
CFML Standard Loans 9.20 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - ▼5.69 - -
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Co-operative Bank - Owner Occ ▼6.95 ▼5.79 ▼5.59 5.69
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First Credit Union Special - 6.40 6.10 -
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Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.60 ▼6.65 6.40 -
ICBC 7.49 5.99 5.65 5.59
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Kainga Ora - First Home Buyer Special - - - -
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Kiwibank ▼7.25 6.89 6.59 6.49
Kiwibank - Offset ▼7.25 - - -
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Westpac Special - ▼5.79 ▼5.49 ▼5.59
Median 7.49 5.99 5.79 5.69

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