FRANCE - ABF Capital Management has launched a new environmental fund.
Luxembourg-domiciled ABF Green Planet Fund applies a global environment approach, which includes all sectors of the economy. US firm Innovest Strategic Value Advisors has been appointed as a research partner. The fund will focus on 60 purely environmental criteria defined by Innovest through the firm’s EcoValue rating system.
ABF will select 250 equities with environmental ratings from AAA to BBB from about 600 large caps included in the MSCI World Index. The tracking error is 2%-3%. No country or sector-specific decisions are used in the new offering. ABF is a unit of Credit Lyonnais Asset Management. It launched its first fund geared towards corporate governance in 1998 (ABF Europe Valeur Actionnariale), and the first equity fund focused on sustainable development in 1999 (La SicavEuroSocietale).
By Madhu Kalia
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.