August 30, 2018
DUE DILIGENCE Alert: HIGH
COMPETITIVE Alert: 2
Event: New ESG focused fund in Indi for later this year announced for Avendus.
Briefing Points: i) Avendus Capital Public Markets Alternative Strategies, which is the alternatives’ asset management division of Avendus Capital, is expected to open a new ESG focused fund in India by late November of this year, ii) The ESG fund, which is the firm’s first, will be a focused portfolio of companies having long-term records of positive ESG practices, and be targeted to institutional investors, and iii) The portfolio manager is Abhay Laijawala, who previously was with Deutsche Securities. He will partner with Institutional Investor Advisory Services (India) that will provide ESG factor ratings to be developed for the fund’s selections.
Affected Fund(s): TBD
Asset Classes: Equities
Management Company: Avendus Capital, Inc. (Mumbai and New York, NY)
Marketing Considerations: The new ESGF fund represents “uncharted waters” for the firm and possibly also for any investors not familiar with the management company. Its offering, however, does signal the expanding global interest in ESG investing with the likelihood of growing market acceptance. This launch may be timely in that corporates in India have increased their focus on governance practices.
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