Just last week, there were two new thematic funds launched into an already quite dense market, with WisdomTree introducing a recycling for decarbonisation UCITS ETF and AXA IM launching a biodiversity listed equity strategy. However, investor in these funds are highly unlikely to be completely exposed to these themes. As Laith Khalaf, head of investment analysis at AJ Bell, explained: "It is unlikely a fund will ever have 100% pure exposure to a given theme, because some investee companies will inevitably have more than one business line which dilutes the fund's weighting." There is...
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