Spanish insurance firm Mapfre is launching a responsible investment fund and France’s La Financière Responsible, in which the insurer has a 25% stake, will act as consultant.
Mapfre has launched Capital Responsible, which invests in shares and bonds of European companies with environmental, social and governance (ESG) attributes. The fund is part of a new range of ESG products.
The Capital Responsible fund is the first collaboration between Mapfre and La Financière Responsible, though Mapfre Asset Management is the fund manager.
The investment strategy is to preserve capital and the fund will be retail mainly in Spain and France, Mapfre says, but will be domiciled in Luxembourg and available to international investors.
As well as the new mutual fund, Mapfre is also converting the Mapfre Renta Largo pension fund into and ESG version called Mapfre Capital Responsable, and a ‘mutual society’ fund – in Spain known as an “EPSV” fund – that was previously known as Mapfre Crecimiento, will be known now as Mapfre Crecimiento Responsible.
In February last year, Mapfre launched a responsible investment fund domiciled in Luxembourg to begin expanding its asset management business.
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