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Sustainable Investing Alerts: January 15, 2019

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Sustainable Investing Alerts Coverage: Nordea’s new fund, Sustainalytics GES acquisition, Eagle introduces new ESG strategy, Fitch launches ESG Relevance Scores, and Mirova’s new international ESG fund.

January 10, 2019

DUE DILIGENCE Alert:  LOW
COMPETITIVE Alert:  1
Event:  Nordea adds fund to its SICAV STAR equity suite.
Briefing Points:  i) Nordea’s new SICAV mutual fund applies an ESG integration approach that employs sustainability quality standards plus “proactive engagement” by the portfolio manager, who “use dialogue and engagement to make a real impact.” The fund focuses on companies with the ability to comply with international standards for environmental, social and corporate governance.  ii) The fund’s PM is John Swahn who currently manages the Nordia 1 – Global Stars Equity fund, an ESG fund using the same “high conviction bottom-up” selection approach;  iii)  Nordea’s STAR suite now has six funds using ESG integration, that “quantify and integrate ESG’ into its valuation model.
Affected Fund(s):  Nordea 1 – North American stars Equity fund
Asset Classes:  US Equities
Management Company:  Nordea Asset Management (New York, NY)
DD Concern:  Change to product-line
Marketing Considerations:  The firm has solid experience in applying its ESG integration approach, and this is considered a positive from a due diligence standpoint.  Applying the approach to a new asset class mandate should not be a concern.  This experience is also a positive from a marketing standpoint, especially with domestic institutional clients.

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