Investec AM launches OEIC version of Global Environment fund
Managed by Deirdre Cooper and Graeme Baker
Investec Asset Management has launched a sterling-based, UK-domiciled OEIC version of its Investec Global Environment fund, managed by Deirdre Cooper and Graeme Baker.
The fund will be a replica of the Luxembourg-domiciled strategy Investec AM launched earlier in the year and offers investors access to what it claims is a $2.4trn per year investment opportunity.
Cooper told Investment Week the fund was "designed to invest in those companies that are positively exposed to decarbonisation". The fund has an investable universe of around 700 companies and aims to invest in between 20 and 40 stocks.
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Cooper said: "As we sit here today, the first day of the 25th Conference of the Parties in Madrid, I think it's fair to say that there couldn't be more focus on how much the world needs to do to meet our climate goals.
"We believe that the companies who will sell into that market stand to outperform the [wider] market because of that structural growth tailwind."
Investec AM said it has been running a composite strategy since 1 September 2018, which has returned 30.1% in the 12 months to 31 October, compared to the MSCI All-Companies World index's 11.2%.
Cooper said the OEIC fund was seeded fully with external money.
Current top holdings include renewable energy firm Nextera Energy, waste management provider Waste Management and auto parts maker Aptiv.
"It's very diversified across a wide number of regions and probably more sectors than you might think," Cooper added.
"This isn't just renewable energy companies, this includes tech companies, industrials, materials, utilities and some consumer discretionary companies."
Charlotte Gibson, global head of client management at Investec AM, said "positive investment action must play a more prominent role in facilitating the transition to a lower carbon economy".
"The case for investing in public companies that tackle climate risk is a mainstream investment priority," Gibson added.
"The launch of the Investec Global Environment fund (OEIC) addresses the increasing demand from clients to invest responsibly.
"By building the right investment framework and fully understanding the latent carbon risk in their portfolios, it is now possible for investors to both meet their long-term financial objectives and take control of their climate risk."
Cooper joined Investec AM in September 2018, having run an environmental mandate for the Norwegian sovereign wealth fund for the previous decade. Baker co-manages the Investec Global Energy fund.
Both are part of the wider natural resources team at Investec AM.
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