Ethical fund set for ASX wants Kiwi money

Australian fund manager Morphic Asset Management hopes to attract New Zealand money into its new Ethical Equities Fund.

Thursday, March 23rd 2017, 5:59AM

Morphic wants to raise $240m and list the fund on the ASX on May 3. It is hoped that up to $5m of that will come from New Zealand investors.

The fund will be an ethically-screened form of the Morphic Global Opportunities fund, with a global equity strategy of investing in small and mid-cap equities.

That fund has had a 17.3 per cent per annum return since its 2012 inception.

It can hold up to 50% cash to protect capital.

The new fund’s objective is to provide better relative returns in down markets and outperform world markets over rolling three-year periods.

It will not invest in armaments, tobacco and alcohol, intensive farming, oil and gas, coal and uranium minim, gambling or rainforest and old growth logging.

Morphic Asset Management will donate 2.5% of its fees from managing Morphic Ethical Equities Fund to Bush Heritage, an Australian conservation group.

A minimum of 5% of the fund will be invested in companies that are working to make a positive difference in the world, including Alstom, a sustainable transport provider, Power Grid, an Indian renewable energy provider.

The initial round of capital raising closes April 19.

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