Fidelity International has created a UK version of a sustainable fund focused on water and waste after raising $1 billion for an equivalent fund domiciled in Luxembourg.
The Luxembourg version of the Fidelity Sustainable Water & Waste Fund (Oeic) raised the $1 billion just over a year from launch.
Fidelity said the pace of asset gathering made the fund “one of the most popular actively-managed sustainable funds with European investors”.
Bertrand Lecourt, portfolio manager at the fund, said: “The story of water and waste is as old as the story of civilisation. Just as there can be no economy without water, a sustainable economy relies on its approach to waste management. Yet despite this, companies in the sector remain relatively unexplored by investors and there’re very few funds dedicated to this unique theme.”
Fidelity’s fund is part of a newly-launched ‘Sustainable Family’ range, which consists of five products; two sustainable thematic funds focusing on carbon reduction and water and waste. as well as three best-in-class equity and fixed income funds.
The fund has an ongoing charge figure of 0.90% and references the MSCI All Country World Index.
©2019 funds europe