Davy AM plans second ethical fund following client demand

Postpones plans for second enhanced income product

Laura Dew
clock • 2 min read

Davy Asset Management is launching its second ethical product to UK investors, a more diversified multi-asset fund, on the back of client demand for ESG strategies.

Launching this October, the fund will be a UCITS version of the firm's existing €52m Prescient Select Ethical Balanced Growth fund, which is structured as a non-UCITS Dublin RIAIF and has been running for five years. Davy obtained this fund when it acquired the Prescient Ireland investment management firm in November 2013. Its first ethical fund is the UCITS €35m Davy Ethical Equity fund, launched in December 2014 and managed by Des Flood and Brian Kennedy, which aims to achieve long-term capital growth by investing ethically in global equities. Year to date, this fund has returned 2%...

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