Digital Assets Report

Funds, Intelligence, Managers, Weekly UCITS News (Friday)

Like this article?

GLG launches global sustainability newcits

May 30, 2011
- 4:57 pm

Related Topics

GLG Partners, now a subsidiary of Man Group Plc, announced this week it had launched a new UCITS III-complian

GLG Partners, now a subsidiary of Man Group Plc, announced this week it had launched a new UCITS III-compliant fund: GLG Global Sustainability Equity Fund. The firm sees sustainability as a key emerging theme and believes it’ll be one of the largest areas of global capital investment over the coming decades. To that end, the fund aims to invest in sectors and companies best placed to capitalise on this long-term trend. A top-down approach using sustainability themes to identify value chains, in conjunction with bottom-up fundamental analysis of companies will be used. Sectors of focus include: healthcare, education services, waste and water management, alternative energy and agriculture to name but a few.

Interestingly, Jim Chanos gave a presentation this week that he joked would “upset the greenies”. He went on to slam alternative energy companies, saying “wind and solar are not efficient”. GLG will use environmental, social and governance (ESG) factors during the investment process and to ensure it complies with UCITS rules, the portfolio will target mid- to large-cap companies. Commenting on the launch, GLG co-founder, Pierre Lagrange said: “Not only is it an evolution of GLG’s commitment and increasing involvement in the area of sustainable investing, it also represents our belief that we have developed a strategy that offers the opportunity to significantly outperform the market.” Fund manager Jason Mitchell said it wasn’t only about clean tech and carbon trading but about “driving product innovation, minimizing costs and managing supply-chain risks”. He added: “We hope to broaden investors’ perception of sustainability by showing that it can compete with traditional long-only funds, placing it within the sphere of mainstream investing.”

Like this article? Sign up to our free newsletter