Sustainable funds future for new distribution business
A new fund distribution group, working with Clayton Coplestone's Heathcote business, plans to push sustainable funds only.
Friday, January 29th 2021, 7:25AM
Zanoma Investment Partners will be promoting funds that have expertise in the investment opportunities and risks associated with sustainable and responsible investment to advisers, institutions and wholesale investors.
The business is headed by Tony Klein, who has previously been and adviser in Australia and more recently deputy principal at Westlake Girls College.
Heathcote has a 34% stake in the business and will be providing operational support to Zanoma.
It has two offshore managers on its books so far and is in discussion with others. The initial funds are the Nanuk New World Fund plus the Artesian Green and Sustainable Bond Fund, Women Economic Empowerment Bond Fund and Corporate Bond Fund.
Klein says that the New Zealand financial services industry is seen as one of the world leaders in the adoption of sustainable investment capabilities, led by the New Zealand Super Fund’s long-standing commitment towards integrating Environmental, Social and Governance considerations into all aspects of their investment activities.
Klein said his early conversations with people in the New Zealand financial services community have confirmed that sustainable investment is growing in importance with financial intermediaries and institutional investors alike.
“The importance of sustainable investing is growing across all aspects of the financial services industry, and will be enhanced further by the recent announcement by the United Nations Principles of Responsible Investment (PRI) to implement significant changes to its reporting framework,” Klein says.
“We believe that there is a tremendous opportunity to provide the industry with quality onshore and offshore investment capabilities that are fully committed to the area of sustainable investing. Incorporating this capability does not need to mean foregoing investment performance’”.
Coplestone says; “We have been talking to Tony for several years about helping Zanoma Investment Partners to establish a sustainable investment centric distribution business for the New Zealand financial services industry.”
“Tony is well known to us, and we can see that there is a growing interest across all aspects of the industry for quality focussed sustainable investment capabilities."
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