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Russell rolls out low carbon fund

Wednesday, October 25th 2017, 8:55AM

Russell Investments has launched a Low Carbon Global Shares Fund in response to client demand for a fund that supports management of climate-change risk and the transition to a low carbon economy.

The fund has raised $378 million in seed money, and has tilts towards companies with positive environmental, social, and governance (ESG) characteristics more broadly, ensuring the final
portfolio passes a ‘common sense’ test of what investors expect from a sustainable low carbon solution.

It is designed with Russell’s proprietary ‘decarbonisation’ investment strategy, and reflects the approach taken in existing bespoke institutional mandates. It targets a reduction in carbon footprint and carbon reserves of 50%, relative to the MSCI ACWI benchmark (ex-Australia). It aims to maintain performance in line with that benchmark, with a low tracking error of less than 1%. It does this by avoiding the asset, sector and industry biases that can occur with a pure divestment approach.

“This rules-based solution is designed to help clients meaningfully reduce exposure to carbon-intensive holdings and invest more in carbon-friendly and renewable energy opportunities, all without materially affecting performance,” Russell Investments portfolio manager James Harwood says.

The fund excludes sectors including cluster munitions, nuclear weapons componentry and anti-personnel mines.

Tags: ESG responsible investing Russell Investments

« PAA AGM fails to hit quorumSmartshares hits $2b FUM »

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ANZ 4.44 2.89 3.25 3.39
ANZ Special - 2.29 2.69 2.79
ASB Bank 4.45 2.29 2.59 2.65
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China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland Bank - Online 2.50 1.99 2.35 2.45
Heretaunga Building Society 4.99 3.50 3.40 -
HSBC Premier 4.49 2.25 2.35 2.65
HSBC Premier LVR > 80% - - - -
HSBC Special - 1.99 - -
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ICBC 3.69 2.25 2.35 2.65
Kainga Ora 4.43 2.79 3.04 3.13
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.40 3.20 3.50 3.50
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.35 2.65 2.65
Liberty 5.69 - - -
Nelson Building Society 4.95 3.20 3.24 -
Pepper Essential 4.79 - - -
Resimac 3.39 3.35 2.99 3.35
SBS Bank 4.54 2.79 2.79 3.15
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 2.29 2.29 2.65
Select Home Loans 3.49 3.34 2.99 3.34
The Co-operative Bank - First Home Special - 2.09 - -
The Co-operative Bank - Owner Occ 4.40 2.29 2.59 2.79
The Co-operative Bank - Standard 4.40 2.79 3.09 3.29
TSB Bank 5.34 3.09 3.29 3.45
TSB Special 4.54 2.29 2.49 2.65
Wairarapa Building Society 4.99 3.55 3.49 -
Westpac 4.59 3.09 3.29 3.39
Westpac - Offset 4.59 - - -
Westpac Special - 2.29 2.69 2.79
Median 4.55 2.79 2.99 2.80

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