Fidelity's £2.7bn corporate bond fund moves to sustainable range

Transition on 26 May

Kathleen Gallagher
clock • 3 min read
Sajiv Vaid and Kris Atkinson will continue to run the newly named Fidelity Sustainable MoneyBuilder Income fund
Image:

Sajiv Vaid and Kris Atkinson will continue to run the newly named Fidelity Sustainable MoneyBuilder Income fund

Fidelity International is transitioning its flagship £2.7bn Moneybuilder Income fund to its sustainability range, as it believes there is a “gap in the market,” Investment Week can reveal.

The 27-year old fund will continue to be run by portfolio managers, Sajiv Vaid and Kris Atkinson, with the transition taking place on 26 May. The fund, which will be rebranded as Fidelity Sustainable MoneyBuilder Income, will be a "sustainable focused strategy" which requires a minimum of 70% of its assets to be invested in securities deemed to maintain sustainable characteristics defined as MSCI ESG Ratings of AAA-BBB, or BB for EM. If unrated by MSCI ESG they must be rated A-C by Fidelity for sustainability. The fund has traditionally held between 80-87% in issuers with "sustainable...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Bonds

London Climate Action Week: The most practical solutions
ESG

London Climate Action Week: The most practical solutions

What are managers doing?

Investment Week
clock 27 June 2022 • 1 min read
Kimberley Lewis, head of active ownership at Schroders
ESG

Schroders: Why we are against Sainsbury's being forced to become Living Wage-accredited

AGM on 7 July

Kimberley Lewis
clock 27 June 2022 • 4 min read
The worst contender dropped 166%, with its flows going from net positive to net negative
ESG

Morningstar figures reveal drop in recently ESG rebranded funds flows

Worst fund saw 166% drop

Kathleen Gallagher
clock 24 June 2022 • 5 min read
Trustpilot