Close Brothers launches sustainable multi-asset fund
Close Brothers Asset Management (CBAM) has launched a sustainable multi-asset fund and rebadged its Bond Income portfolio as a sustainable bond fund.
CBAM, the asset management arm of Close Brothers, said the move was in response to demand from clients and intermediaries for funds with a focus on ESG and sustainable investment strategies.
The newly launched Close Sustainable Balanced Portfolio fund will be managed by head of funds Riitta Hujanen and investment manager Richard Stroud.
The offering will aim to provide capital growth alongside some income over the medium term, CBAM said. It will invest across shares, bonds, alternatives, ETFs and third-party funds.
Meanwhile, the Close Bond Income Portfolio fund will become the Close Sustainable Bond Portfolio fund, and continue to be managed by investment director Andrew Metcalf and investment manager Eran Hasson.
The fund aims to generate income while maintaining its capital value over the medium term, investing in bonds, third-party funds and other fixed income securities.
Chief executive Martin Andrew said: "Investors and clients are becoming more aware of how their money can affect the world around them and increasingly want to invest in ways that reflect their concern and respect for the natural environment, for human dignity and for responsible corporate behaviour. We are launching these new funds to meet this demand."
CBAM said both mandates would screen out companies with unethical practises and focus on investment opportunities with positive ESG and sustainability records.
They will adopt a robust, three-stage processing detailed analysis and sophisticated modelling techniques to unearth those opportunities, the firm continued.
The move increases CBAM's broader sustainable investment proposition, which includes a socially responsible investment service and a bespoke investment service that caters for high net worth clients' ethical and sustainable concerns.
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