Nikko Asset Management launches Green fund
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Nikko Asset Management, a mutual fund and institutional asset manager for Japanese and global investors, is to launch a green bond fund.
The Nikko AM World Bank Green fund can invest up to 100% of its portfolio in green bonds in a range of developed and emerging market currencies, issued by the World Bank.
Stuart Kinnersley, the European chief investment officer, will manage the fund together with Justin Eeles and Simon Down, both senior portfolio managers. (article continues below)
The Luxembourg-domiciled Ucits III fund will have sterling, dollar and euro share classes. Nikko AM is initially targeting institutional investors. However, Charles Beazley, the president, Europe, says once there is sufficient demand, it will make the fund available to retail investors.
The group says all proceeds of these bonds will support World Bank funded projects that are designed to tackle the causes and consequences of climate change in the developing world.
