Offshore archivos - Page 134 of 331

iM Global Partner Acquires 42% of Asset Preservation Advisors

sparkler-801902_1920 — Pixabay CC0 Public DomainAutor: Free-Photos.. iM Global Partner se hace con el 42% de Asset Preservation Advisor para acelerar su expansión en EE.UU y Europa

iM Global Partner has announced the acquisition of a strategic non-controlling stake of 42% in Asset Preservation Advisors (APA), an independent investment advisor specializing in managing high quality tax-exempt and taxable municipal bond portfolios for registered investment advisors, family wealth offices, financial advisors and institutional clients.

The asset manager has highlighted that this transaction will grow its US-based product offering and accelerate its expansion, also across Europe. Through this new partnership APA joins iM Global Partner’s extensive global asset management and distribution network, while ensuring its long-term independence for decades to come.

“We are excited to partner with APA. With 4.8 billion dollars in assets under management, APA now ranks as the fourth largest independent municipal bond specialist in the US. iM Global Partner’s success in attracting new Partners is due to its values of integrity and support for entrepreneurialism which ensure that each partner retains its autonomy and independent value proposition combined with iM Global Partner’s worldwide distribution network”, said Philippe Couvrecelle, CEO and Founder of the firm.

This is the 8th partnership that iM Global Partner has taken on in six years and is the second US partner in 2021. In July, iM Global Partner acquired a 45% stake in Richard Bernstein Advisors, a New York-based asset allocation specialist. In March this year, the firm also announced it would expand its US distribution efforts with the full acquisition and integration of California-based wealth and asset management boutique Litman Gregory.

Kevin Woods, co-CEO and CIO of APA commented that they see “an incredible opportunity” in this partnership to help continue their “strong growth” and build on their leading presence as an independent Municipal bond specialist. “iM Global Partners offered APA a unique opportunity to continue our mission to provide excellence to our clients in the same way we have for more than thirty years, and now for decades to come”, he added.

Meanwhile, Jeff Seeley, Deputy CEO, US Chief Operating Officer & Head of US Distribution of iM Global Partner pointed out that given APA’s “exceptional reputation, competitive long-term performance and growing US distribution”, they believe the firm is uniquely positioned to capitalize on the increasing investment opportunities in the municipal segment, as US clients continue to seek attractive tax-exempt strategies. “Through our partnership, iM Global Partner is adding a new range of excellent strategies to our growing and diverse fixed income product set”, he concluded.

The firm has explained that this latest strategic partnership reinforces its commitment to the US market and is yet another example of its rapid expansion. In this sense, its assets under management have grown from 7 billion dollars at end 2018 to 37 billion today, more than 400% growth in just 3 years.

Regarding the details of the financial transaction, Berkshire Global Advisors acted as financial advisor for APA and Taylor English Duma acted as legal counsel. For iM Global Partner, Oppenheimer & Co. Inc. acted as financial advisor and Seward & Kissel acted as legal counsel.

Canada’s CI Financial Opens its U.S. Headquarters in Miami

| For Marcelo Soba | 0 Comentarios

Captura de Pantalla 2021-09-15 a la(s) 16 — . Pexels

CI Financial, a diversified global asset and wealth management company based in Toronto, has announced in a press release the establishment of its U.S. headquarters in Miami. Located in the city’s Brickell district, the office will oversee the continued development of CI Private Wealth, the brand name for its U.S. platform.

The addition of a headquarters in Florida “follows CI’s rapid wealth management expansion in the U.S.”, with the company agreeing to acquire 21 registered investment advisor firms in 19 months since rolling out a new corporate strategy.

During this period, its U.S. assets have reached 73 billion dollars and its total assets globally have grown to 254 billion dollars, up from 131 billion only 18 months ago. The asset manager has highlighted that this makes them “one of the fastest-growing asset and wealth management companies globally”.

“Miami is an incredible place to establish our U.S. headquarters and support our fast-growing U.S. business. It serves as the next logical step for our expansion plans as we work to build the leading high-net-worth wealth management platform in the country. In addition, Miami is a vibrant, multicultural city that offers a deep talent pool, an attractive location for recruiting and a very business-friendly environment”, said Kurt MacAlpine, Chief Executive Officer of CI Financial.

The office will be home to the firm’s U.S. operations and the primary location for its U.S. leadership team but its executive officers will divide their time between Miami and Toronto. CI expects to expand its presence in Miami over time as it continues to execute against its U.S. corporate strategy.

Robeco Bolsters its Sustainable Investment Teams with Portfolio Managers and Seven Analysts

| For Beatriz Zúñiga | 0 Comentarios

Roman Robeco — Foto cedidaRoman Boner, gestor de cartera principal de la estrategia RobecoSAM Smart Energy.. Robeco refuerza sus equipos de inversión temática sostenible con un gestor principal y siete analistas de renta variable

Robeco has strengthened its sustainable themes investment teams with the addition of eight professionals. In a press release, the asset manager has announced the appointment of Roman Boner as lead Portfolio Manager of the RobecoSAM Smart Energy strategy. The teams will be further reinforced by seven equity analysts over the coming months.

“Our Trends & Thematic investment offering has seen strong growth, and our dedication, ambition and commitment allows us to attract the best world-class professionals. The capability is now stronger than ever before and we will keep adding investment professionals to further strengthen our teams in order to help achieving our clients’ financial and sustainability goals”, said Mark van der Kroft, CIO Fundamental and Quant Equity at Robeco.

David Hrdina, Chair of the Executive Committee at Robeco Switzerland, commented that with these appointments they are sending “a strong signal” to their clients and the market that Robeco Switzerland is “the center for Sustainable Thematic Asset Management, which can attract top-tier professionals”. “We made an important step in further bolstering the investment engine in Zurich. But this step was not the last one”, he added.

Based in Zurich, Boner is an experienced thematic investment manager. He joins Robeco from Woodman Asset Management, where he built up its impact offering. Previously he was Senior Portfolio Manager at Swisscanto, where he was responsible for managing different sustainable/thematic global equity funds and co-managed sustainable multi-asset funds. He also held various positions at UBS Global Asset Management, including Portfolio Manager focused on thematic sustainable equity strategies.

Besides, Pieter Busscher has been appointed lead Portfolio Manager of the RobecoSAM Smart Mobility strategy, having served as Deputy Portfolio Manager of this strategy since its launch in 2018. He has been with the firm since 2007 and is also the lead Portfolio Manager of the RobecoSAM Smart Materials Strategy.

Robeco’s deep bench of thematic investment professionals is further enhanced by the appointments of analysts Michael Studer, Mutlu Gundogan, Sanaa Hakim, Clément Chamboulive, Alyssa Cornuz, Simone Pozzi, and Diego Salvador Barrero.

Studer will be named Senior Equity Analyst focusing on Technology. He will also be the Deputy Portfolio Manager for the Smart Energy strategy. He joins from Acoro AM, where he was an investment manager, and has 13 years’ experience as an equity analyst/investment manager, working at Julius Baer and Bank J. Safra Sarasin and other firms.

Gundogan, CFA, will join as Senior Analyst from ABN AMRO – ODDO BHF, where he was Senior Equity Analyst covering the Chemicals sector. He will focus on the Materials sector and brings over 17 years’ experience as a financial analyst. As for Hakim, she will be appointed Senior Equity Analyst for Energy Efficiency & Renewables. With 6 years of experience as an investment analyst, she joins from Independent Franchise Partners and previously she was at Capital Group.

Chamboulive will join as Senior Analyst, also focusing on the Technology sector and its role in the electrification of the transport system. He worked at 2Xideas and prior to that at Baillie Gifford, and has 7 years’ experience as an Investment Analyst. Meanwhile, Cornuz, CFA, will be named Equity Analyst for the RobecoSAM Sustainable Healthy Living Equities strategy, with a focus on Consumer-related sectors. She joins from Credit Suisse and has five years’ experience as an equity and fund analyst. Previously she was at Nordea, where she was a fundamental equity analyst for thematic funds, fully integrating ESG aspects.

Furthermore, Pozzi will become Equity Analyst focusing on Industrial Automation and Process Technologies. He joins from Alantra, where he was an equity analyst and has more than six years of experience. Lastly, Salvador Barrero, CFA, has been appointed Equity Analyst for the Energy Distribution & Renewables team. He joins from BBVA AM in Spain, where he was an ESG equity portfolio manager. He has ten years’ experience as an equity analyst/portfolio manager, working at Aviva and other firms.

ESG in Practice Series: Mayssa Al Midani on Engagement in the Nutrition Strategy

| For Meritxell Sedo | 0 Comentarios

As active managers, Pictet Asset Management can collaborate with portfolio companies to trigger positive change. Mayssa Al Midani, Senior Investment Manager in the Thematic Equities team, shares her perspective on environmental and social engagement with food companies.

Can you tell us about your active engagement in nutrition?

We invest in firms that help address global food challenges, ensure the sustainability of the food chain and provide access to quality food necessary for health and growth. A key feature of our investment process is engagement: we work closely with the firms we invest in to improve their performance across environmental, social and governance factors.

To help us maintain a constructive dialogue with the firms we have stakes in, in 2018 we established a partnership with the Access to Nutrition Initiative (ATNI), a body which evaluates the world’s 25 largest food and beverage companies based on their contribution to ending malnutrition in all of its forms. Companies are assessed on the nutritional value of their products, their commitment to providing affordable nutrition and the responsibility of their marketing practices.

This year we are taking part as active investors in a collaborative engagement with three companies in our portfolio.

With other investors, we are writing to these companies, bringing to their attention the specific improvements ATNI research suggests they need to make. We have set a deadline for them to respond. Once we receive their answers, we’ll hold calls with the companies to discuss their responses.

We are only able to engage with Nestlé, Danone and China Mengniu since all other companies in the ATNI index aren’t even in our portfolio because they don’t meet what we call our ‘purity’ threshold, or the percentage of their revenues exposed to nutritious foods. Our definition of nutritious foods is based on what leading health and environmental NGOs classify as foods that optimise both human and planetary health.

Partnering with other asset managers representing several trillions of assets under management gives much more weight to our actions

What are the themes of your engagement with companies in the Nutrition portfolio?

Our objective is to encourage companies to grow the share of healthy products in their portfolio, increase affordability and accessibility for all consumers regardless of income levels, adopt best practice when it comes to the responsible marketing of products to children and commit to front-of-pack nutritional labelling.

We single out the products that do not fit our definition of healthy nutrition and then urge companies to either reformulate them to make them healthier (reduce sugar, fat, salt content, or enrich them with micronutrients), or divest these categories.

We also look closely at how food is marketed. For example, when it comes to the marketing of breastmilk substitutes, we have been calling on companies to comply with the World Health Organisation code for healthy marketing of such products. They may be the only viable nutritional substitute when mothers are unable to breastfeed but they must not be marketed too aggressively so exclusive breastfeeding remains a priority.

We also request that companies link these nutritional objectives to management compensation, which is a powerful way of aligning management interests with positive nutritional impact and ensuring that companies are serious about making these changes.

Pictet AM

How did you choose this initiative ?

There is only so much we can achieve as a single entity.

Partnering with other asset managers representing several trillions of assets under management gives much more weight to our actions.

Within Pictet, what was initially an asset management initiative has broadened to our private banking arm, Pictet Wealth Management, making Pictet Group as a whole a signatory and supporter of this engagement.

Sustainable nutrition is an area of strategic importance for the Pictet Group – which is already active in the field of nutrition and water through the Pictet Group Foundation – that’s why we feel it makes sense to pursue a collaborative engagement at the group level and to partner with other investors to magnify our impact.

Have you noticed a change in how companies respond to engagement in the past few years?

Food and beverage manufacturers are paying greater attention to the topic of nutrition, for a number of reasons.

Minimising the impact of their activities on society and the environment has become a business imperative.

Public interest in health and sustainability has become so widespread it is something companies can no longer ignore. Millenials and Gen-z consumers are more health conscious and increasingly want to align their purchases with their values. They want healthy, nutritious food that is responsibly produced, and are willing to pay a price premium for this.

It has also become crucial to investors that the companies they invest in meet certain standards. More and more investment managers include ESG factors in their investment process. Regulation such as the EU’s SFDR mandating greater transparency on the sustainability profiles of investment funds will only accelerate that trend.

Public interest in health and sustainability has become so widespread it is something companies can no longer ignore

What has been the effect of Covid-19?

COVID-19 has shed light on the link between poor diets and vulnerability to infectious disease. In particular, studies have shown a strong link between obesity and COVID-19. Governments like the UK have started to implement policies targeting malnutrition as a response to the pandemic. This heightened awareness of the importance of healthy diets is fueling the growth of the functional foods markets (e.g. probiotics, supplements) and that of healthy alternatives such as plant-based foods.

Another effect of the pandemic has been to highlight the threat to food security caused by disruptions in complex global supply chains. In response, we are seeing the food industry investing heavily in a wide range of high-tech solutions, many of which are geared to strengthening supply chains, raising production standards and reducing food waste.

To help us better understand these trends, our portfolio managers draw on the support of a dedicated advisory board, whose members are experts from different areas of the food industry. Among them is a medical practitioner whose research activities focus on the link between non-communicable diseases such as obesity and diabetes and nutrition. Another is a food scientist, formerly the head of innovation, technology and R&D at Nestlé. They bring a different, science-based perspective and help ensure that our investment theme remains relevant.

To find out more about our collaborative initiatives and our corporate engagement, read our Responsible investment report.

Discover more about Pictet Asset Management’s long expertise in thematic investing.

Information, opinions and estimates contained in this document reflect a judgment at the original date of publication and are subject to risks and uncertainties that could cause actual results to differ materially from those presented herein.

Important notes

This material is for distribution to professional investors only. However it is not intended for distribution to any person or entity who is a citizen or resident of any locality, state, country or other jurisdiction where such distribution, publication, or use would be contrary to law or regulation.

The information and data presented in this document are not to be considered as an offer or sollicitation to buy, sell or subscribe to any securities or financial instruments or services.

Information used in the preparation of this document is based upon sources believed to be reliable, but no representation or warranty is given as to the accuracy or completeness of those sources. Any opinion, estimate or forecast may be changed at any time without prior warning. Investors should read the prospectus or offering memorandum before investing in any Pictet managed funds. Tax treatment depends on the individual circumstances of each investor and may be subject to change in the future. Past performance is not a guide to future performance. The value of investments and the income from them can fall as well as rise and is not guaranteed. You may not get back the amount originally invested.

This document has been issued in Switzerland by Pictet Asset Management SA and in the rest of the world by Pictet Asset Management (Europe) SA, and may not be reproduced or distributed, either in part or in full, without their prior authorisation.

For US investors, Shares sold in the United States or to US Persons will only be sold in private placements to accredited investors pursuant to exemptions from SEC registration under the Section 4(2) and Regulation D private placement exemptions under the 1933 Act and qualified clients as defined under the 1940 Act. The Shares of the Pictet funds have not been registered under the 1933 Act and may not, except in transactions which do not violate United States securities laws, be directly or indirectly offered or sold in the United States or to any US Person. The Management Fund Companies of the Pictet Group will not be registered under the 1940 Act.

Pictet Asset Management (USA) Corp (“Pictet AM USA Corp”) is responsible for effecting solicitation in the United States to promote the portfolio management services of Pictet Asset Management Limited (“Pictet AM Ltd”), Pictet Asset Management (Singapore) Pte Ltd (“PAM S”) and Pictet Asset Management SA (“Pictet AM SA”). Pictet AM (USA) Corp is registered as an SEC Investment Adviser and its activities are conducted in full compliance with SEC rules applicable to the marketing of affiliate entities as prescribed in the Adviser Act of 1940 ref.17CFR275.206(4)-3.

Pictet Asset Management Inc. (Pictet AM Inc) is responsible for effecting solicitation in Canada to promote the portfolio management services of Pictet Asset Management Limited (Pictet AM Ltd) and Pictet Asset Management SA (Pictet AM SA).

In Canada Pictet AM Inc is registered as Portfolio Manager authorized to conduct marketing activities on behalf of Pictet AM Ltd and Pictet AM SA.

Pictet Asset Management: Dealing with Delta

| For Meritxell Sedo | 0 Comentarios

Economic growth has clearly slowed in recent months thanks in large part to the spread of the particularly infectious Delta variant of Covid. Still, with monetary stimulus in plentiful supply and vaccination rates holding firm, this dip could prove to be temporary.

Whether inflation will be transient is not so clear, however. So far, much of the increase in inflation results from distortions caused by changing consumer behaviour – a narrow group of items such as used cars and holiday accommodation accounts for most of the price increases seen in recent months – and base effects. A concern, though, is that price pressures are starting to seep into other areas, like services.

Making matters more complicated, policymakers aren’t giving particularly clear signals.

The heated inflation debate taking place within the US Federal Reserve’s ranks has spilled out into the open, and investors are still waiting for an indication of when the central bank will start to wind down its USD120 billion monthly asset purchase programme or how long the process might take.

There are other risks for investors to consider.

While developed economies have started to get a grip on the pandemic, signs that outbreaks are possible despite mass vaccination programmes stand as a warning for what might happen this winter in the US and Europe. Meanwhile, regions that had previously been largely unaffected by Covid – like Southeast Asia – are bearing the brunt of the current wave.

An additional worry is China. Covid-driven lockdowns, a tightening of credit supply earlier this year and Beijing’s regulatory and market reforms have all dampened growth and raised uncertainty for the business community. A big puzzle facing the Chinese government is why households are spending so little and how to get them spending more. Taking all this into account, we have chosen to reduce exposure to some cyclical stocks (Japan) but maintain our overall neutral stance on all major asset classes.

Our business cycle analysis offers up a mixed picture. We are now less positive on the UK, Switzerland and Europe outside of the euro zone. However, we believe that weakness in the US is likely to be transitory, driven by a resurgence of the virus, which will merely postpone the pickup in consumption rather than undermine the underlying strength of the recovery.

In light of weakness in US consumption and construction we have lowered our GDP growth forecast for this year to 6.5 per cent from 7 per cent, but continue to expect a robust expansion of some 5.3 per cent for 2022.

The euro zone, meanwhile, has offered positive surprises. The leading indicator is very strong. Online indicators show that mobility is back above pre-pandemic levels, which suggests that Europeans have learned to live with Covid.

Our liquidity indicators show that Chinese credit growth peaked last autumn and then started to contract four months ago. This means that even though the People’s Bank of China’s recently cut its bank reserve requirement ratio, the lagged effects from prior tightening will linger for the rest of the year.

That said, global liquidity conditions in the coming months will be primarily determined by the pace of monetary tightening in the US. The major risk is that the US tightens too much too soon. For now, though, liquidity conditions worldwide remain supportive for riskier asset classes, with central banks still more generous than they were in the months following the global financial crisis a decade ago, while private liquidity creation in the form of loans remains at about its long run average.

Our valuation indicators show that even though global bonds have become expensive, particularly US Treasuries and euro zone bonds, equities are more expensive still.

If liquidity conditions turn negative – in other words, if the rate of money supply expansion falls below the nominal rate of GDP growth – then global stocks’ price to earnings ratios will come under pressure. That’s especially true because P/E ratios are very high for this stage of the cycle relative to earnings growth (see Fig. 2) – our models suggest these ratios will contract 5 to 10 per cent by the year end.

Our technical indicators show that equity sentiment remains neutral across all regions, while strong short-term trends support bonds. By contrast, a sharp loss of momentum is weighing on commodities.

Separately, investor risk appetite has pulled back from euphoric levels in mid-May across asset classes.

Opinion written by Luca Paolini, Pictet Asset Management’s Chief Strategist.

Discover Pictet Asset Management’s macro and asset allocation views.

Important notes

The information and data presented in this document are not to be considered as an offer or sollicitation to buy, sell or subscribe to any securities or financial instruments or services.

In Canada Pictet AM Inc is registered as Portfolio Manager authorized to conduct marketing activities on behalf of Pictet AM Ltd and Pictet AM SA.

Smart Beta ETFs Are Gaining Traction with European Private Banks

| For Beatriz Zúñiga | 0 Comentarios

escalator-698488_1920 — Pixabay CC0 Public Domain. Los fondos ETFs con estrategias smart beta ganan atractivo entre los clientes de la banca privada europea

Nearly half (46%) of the European private banks and independent wealth managers expect demand for smart beta exchange-traded funds (ETFs) to increase over the next 24 months, according to the latest issue of “The Cerulli Edge-Europe Edition“, a survey by Cerulli Associates.

“Forty-four percent of the respondents to our research expect passive ETF demand to increase over the next two years,” says Fabrizio Zumbo, associate director, European asset and wealth management research at the firm. Besides, the research indicates that European private banks’ average portfolio allocation to ETFs is set to increase from 18% in 2020 to 25.7% by 2022 and that specific sector/country exposure is by far the most important consideration for these institutions when evaluating ETFs.

According to Zumbo, there have been some interesting developments away from the mainstream asset classes. For example, some notable differences emerged when Cerulli asked European private banks and independent wealth managers to identify what they expect to be the most in-demand passive fund strategies and exposures. “EUR bonds were the clear winner among private banks, with almost half as many references again as USD bonds. In contrast, wealth managers expect other bond strategies to be most popular, with little to choose between their expectations for thematic, corporate, and emerging market bonds”, he reveals.

The research also shows that the COVID-19 pandemic-related market turmoil provided a significant stress test of the resilience of bond ETFs and their success triggered interest from investors who had not previously considered using ETFs in fixed income. In addition, a combination of regulatory tailwinds and unprecedented client demand has led to a surge in ESG investing.

“ETFs are also becoming an area of innovation in investment strategies, with thematic approaches that focus on sustainable food sources or specific climate change criteria, for example, being released in ETF format by default”, concludes Cerulli.

Nordea Asset Management Will Open an ESG Hub in Singapore

| For Beatriz Zúñiga | 0 Comentarios

marina-bay-1435072_1920 — Pixabay CC0 Public Domain. Nordea Asset Management abrirá un centro ESG en Singapur

Nordea Asset Management (NAM) has announced this week its plans to open an ESG hub in Singapore by the end of the year in response to its “growth and successes” in the region. In a press release, the asset manager has revealed that this is a strategic decision to establish its first ESG hub outside of its Nordic headquarters.

In this sense, they believe that the hub will allow them to be closer to clients in Asia-Pacific and better understand how companies are embracing sustainability in the region. “NAM is pleased to establish an ESG hub in Singapore, which will enable us to enhance our local servicing, ESG capabilities, investment platform and distribution reach in the region. Sustainability issues have gained significant interest in Asia in recent years, and investors are increasingly asking for ESG solutions. The time is right to meet that demand,” says Nils Bolmstrand, CEO of Nordea Asset Management.

The asset manager has explained that Singapore is an attractive choice for its first overseas ESG hub due to its stable investment environment and the government’s commitment to tackle the problems of carbon emissions and embrace the doctrines of sustainable finance. In its view, Singapore’s Green Finance Action Plan, launched in 2019, marks “a significant step in the country’s transition towards a sustainable future”.

NAM’s new ESG hub will supplement its local Singapore distribution office, established in 2013, and will be fully integrated with NAM’s ESG-focused internal investment boutiques as well as NAM’s award-winning Responsible Investments team. The plan is to start implementing the hub in the latter part of 2021.

Fidelity International Expands its Sustainable Offering with a Global Equity Fund Targeting Decarbonization

| For Beatriz Zúñiga | 0 Comentarios

lanzamiento fidelity — Foto cedidaDe izquierda a derecha: Velislava Dimitrova, gestora principal de Fidelity Funds - Sustainable Climate Solutions Fund; y Cornelia Furse, cogestora de la estrategia.. Fidelity International amplía su gama sostenible con un fondo de renta variable global para la descarbonización mundial

Fidelity International (Fidelity) has announced the launch of the Fidelity Funds — Sustainable Climate Solutions Fund, a global equity portfolio of leading companies that benefit from decarbonization. It will be managed by experienced sustainable thematic investors Velislava Dimitrova and Cornelia Furse.

In a press release, the asset manager has revealed that the fund aims to achieve long-term capital growth by investing in companies which enable global decarbonisation efforts. In other words, firms that offer technologies and solutions that materially reduce greenhouse gas emissions versus incumbent technologies. Investments will include companies involved in the design, manufacture or sale of products or services in technologies or solutions such as (but not limited to): electric vehicles, green hydrogen, autonomous vehicles, renewable energy, smart grids, industrial automation and agricultural efficiency.

“Climate change has prompted decarbonisation policies around the world to help achieve global carbon neutrality. The world needs to decarbonise urgently, at a faster pace that we have seen to date, and investors can play a major role in supporting this change. The decarbonisation challenge is on a scale unmatched in human history. But it is one that offers the companies meeting it a 30-year period of growth that surpasses even the internet revolution. Our Sustainable Climate Solutions Fund offers investors access to this long-term global megatrend”, says Dimitrova, Co-Portfolio Manager.

Fidelity believes that to keep global warming to the 1.5 °C above pre-industrial levels as recommended in the Paris Agreement, the global economy will need to go through a radical transformation, affecting every area of human activity. This means reversing over 150 years of rising greenhouse gas emissions and reaching, or exceeding, net zero targets within 30 years – at a cost of 144 trillion dollars, almost seven times annual US GDP. According to the firm’s analysts, the race to net zero is on, and almost a quarter of all companies will be carbon neutral by the end of this decade.

Furse, Co-Portfolio Manager of the strategy, points out that unlike other climate funds, this one focus on carbon reduction, not carbon avoidance. “Investing in low emission sectors will not be enough to reverse 150 years of rising greenhouse gas emissions. Our fund will identify and invest in existing and emerging solutions that help decarbonise society. The decarbonisation trend is currently at the early stage of penetration and will be driven by a combination of innovation, improving economics, accelerated governmental support and changing consumer behaviours. It is the stocks exposed to these themes that will drive superior investment opportunities for our investors”, she adds.

The Fidelity Funds — Sustainable Climate Solutions Fund, which is classified Article 8 under the EU Sustainable Finance Disclosure Regulation (SFDR), forms part of Fidelity’s expanding Sustainable Family of Funds. The asset manager currently manages more than 10 billion dollars in sustainable funds across its equity, fixed income, ETF and multi asset.

“We strive to become a trusted partner to our clients, delivering innovative investment solutions that meet their financial and non-financial objectives. Investing sustainably is key to achieving this. Our Sustainable Family of Funds has grown substantially in recent years, and I am pleased that we can now offer clients access to the decarbonisation megatrend”, highlights Christian Staub, Managing Director Europe at Fidelity.

In his view, the race to net zero “is on”; that’s why they have also committed to reduce their operational carbon emissions to net zero by 2040, and they’re working collaboratively with peers in the Net Zero Asset Managers initiative, supporting and the transition towards global net zero emissions.

About the portfolio managers

Velislava Dimitrova has 13 years of investment experience. She joined Fidelity in 2008 and worked as an analyst until 2014, covering a number of sectors including European Media, European Utilities and Materials. She was subsequently appointed co-Portfolio Manager on global team-based portfolios where she had specific sector responsibilities, including the Fidelity Global Demographics strategy between 2017-19, which cemented her interest in thematic products. In 2018, she built on her vision of running a sustainable thematic strategy when she conceptualised and started managing Fidelity Sustainable Climate Solutions, where she is currently Lead Portfolio Manager. In February 2021, Velislava took on a Lead Portfolio Manager role for the Fidelity Sustainable Water & Waste strategy. She has an MBA from MIT Sloan and a BBA from Sofia University.

Cornelia Furse has 11 years of investment experience. She joined Fidelity in 2010 and worked as an analyst until 2021 covering a number of sectors including European Mid-cap Utilities, US Health Care, US Consumer Discretionary and US Capital Goods. She was appointed co-Portfolio Manager on the Fidelity Sustainable Climate Solutions strategy in 2019 and as co-Portfolio Manager on the Fidelity Sustainable Water & Waste strategy in February 2021. She has an MA in Classics from Oxford University.

La Française AM Boosts its Management Team with Three New Talents

| For Meritxell Sedo | 0 Comentarios

La Francaise_0 — Foto cedidaPaul Troussard, Victoire Dubrujeaud y Delphine Cadroy. Paul Troussard, Victoire Dubrujeaud y Delphine Cadroy

To support the development of its High Yield credit and Large Cap equities expertise, La Française AM, the securities investment manager of the group La Française, has announced in a press release the arrival of three new talents.

Victoire Dubrujeaud and Delphine Cadroy have joined the High Yield team, led by Akram Gharbi, Head of High Yield Investment, within the credit division, headed by Paul Gurzal, Head of Credit. The asset manager believes that they will both enhance the strong development of La Française AM’s expertise in fixed maturity funds, which represents more than 1 billion euros in assets under management (as at 31/05/2021).

Dubrujeaud, High Yield Fund Manager, will bring “a solid knowledge of the high yield market” acquired over ten years of experience, mainly as a credit analyst. She began her career at Amundi Asset Management as an Investment Grade Credit Analyst, specialising in the consumer, distribution and healthcare sectors, before diversifying into High Yield in the chemicals, metals and gaming sectors. In 2017, she joined SCOR Investment Partners as a High Yield and Leveraged Loans Analyst, then became Fund Manager/High Yield Analyst at ODDO BHF Asset Management in 2019 where she managed nearly 2 billion euros in fixed maturity funds.

Cadroy, High Yield Fund Manager, joins La Française AM after five years of international experience beginning in London with Société Générale as an analyst in syndicated loans, before joining Amazon, then Moody’s as an Analyst in Leveraged Finance, responsible for a portfolio of twenty companies, rated high-yield and operating in the healthcare, business services and consumer sectors.

“The development of the high-yield market and the growing demand from investors for this asset class are pushing us to strengthen our expertise in this area and expand our international coverage”, Gharbi, Head of High Yield Investment, commented.

Besides, Paul Troussard has joined the Large Cap Equities team to strengthen the coverage of the euro zone, under the direction of Nina Lagron, Head of Large Cap Equities, who said that his arrival will allow them to “focus on the team’s new sustainable investment themes.”

Troussard, Large Cap Equities Fund Manager, spent more than four years at Clartan Associés as a European equities fund manager, all sectors. There, he developed an expertise in extra-financial analysis by participating in the implementation of an ESG (Environmental, Social and Governance) investment strategy and in the launch of a sustainable European small and mid-cap fund.

Neuberger Berman Appoints Sarah Peasey as Director of European ESG Investing

| For Meritxell Sedo | 0 Comentarios

Nimalan Tharmalingam City of London — Pixabay CC0 Public DomainNimalan Tharmalingam . Nimalan Tharmalingam

Neuberger Berman, a private, independent, employee-owned investment manager, has announced the appointment of Sarah Peasey in the newly created position of Director of European ESG Investing.

Based in London, she will report to Jonathan Bailey, Head of ESG Investing, and will work directly with the investment teams to further incorporate ESG principles across asset classes and to enhance long-term value for clients.

Peasey joins Neuberger Berman from Legal and General Investment Management (LGIM), where she served as Head of Responsible Investment Strategy – Investments. There she worked closely with the CIO to drive long term responsible investment strategy, with a focus on research and portfolio management across all investment capabilities, whilst also providing the investment perspective to support product innovation and shape client solutions. Prior to this, she was an Investment Strategist and head of fixed income investment

‘‘Sarah brings with her more than a decade of investment experience and we’re thrilled to have her on board as we continue to engage our European clients on important sustainability topics like net zero. She will work with our investment teams across the region to continue to innovate their approach to ESG investing”, Bailey commented.

Meanwhile, Dik van Lomwel, head of EMEA and Latin America, pointed out that Neuberger Berman has a long history of integrating ESG into investment processes while helping their clients achieve their investment goals. “With Sarah’s extensive experience, we hope to further generate sustainable, long-term returns for our clients through our approach to ESG, as seen in our recent £1.3bn climate transition-related multi-asset credit mandate from the Brunel Pension Partnership which is designed to align Brunel’s portfolio with the Paris Climate Agreement”, he concluded.