BlackRock launches impact investing fund

BlackRock has launched a responsible investing Ucits fund, seeking to capitalise on growing demand.

The world’s largest asset manager has launched the BlackRock Strategic Funds Impact World Equity Fund, which uses negative screens to eliminate alcohol, tobacco, and weapons manufacturers, among others. 

The fund will also score more than 8,000 companies based on three areas: health, the environment and corporate citizenship.

“This new investment strategy will help move impact investing from a niche to a core allocation. We have designed a portfolio that combines innovative investing capabilities with a transparent and tangible set of social and environmental impact outcomes,” says Jeff Shen, co-head of BlackRock’s Scientific Active Equity Investment Group, which will manage the fund.

The fund has an initial 5 per cent charge and an ongoing fee of 0.8 per cent.