Pimco has launched a fund that invests in the corporate bonds of major issuers but which will also aim to have a “positive social impact”.
The Pimco GIS Global Investment Grade Credit ESG Fund applies environmental, social and governance (ESG) criteria to high quality investment grade corporate bonds.
The same team - which is led by Mark Kiesel - manages a non-ESG version of the fund and will also manage the ESG fund with the addition of Mike Amey, head of ESG strategies.
Kiesel said the global investment grade credit team had a “strong proven” track record and was “well positioned” to manage the ESG version of the strategy.
The fund is intended to perform well even in challenging conditions due to its “bend-but-don’t-break” investments, Kiesel said.
Mohit Mittal and Jelle Brons are also portfolio managers on the ESG fund and its non-ESG equivalent.
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