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Storebrand Asset Management launches tax efficient emerging markets climate fund for the UK market

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Storebrand Asset Management launches tax efficient emerging markets climate fund for the UK market

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  • Storebrand Asset Management launches emerging markets version of highly regarded climate strategy - ESG Plus Emerging Markets 
  • Lewisham Pension Fund provide seed capital for climate aware emerging markets fund 
  • Second fund to be launched by Storebrand with AMX  

 

Storebrand Asset Management (Storebrand) is delighted to announce that it has launched its Emerging Markets ESG Plus strategy as a Common Contractual Fund (CCF) on the AMX platform. This has been funded by an investment from the Lewisham Pension Fund (LPF). Storebrand is one of the largest private asset managers in the Nordic region and has a 25-year commitment to sustainable investment. All £84 billion[1] assets are managed according to the group-wide Storebrand Policy for Sustainable Investments.  
 

LPF is part of the UK Local Government Pension Scheme (LGPS) and is a leading proponent in addressing climate risk within its investment portfolio. This investment in the Storebrand AMX ESG Plus Emerging Markets Fund follows an earlier investment by LPF in the AMX UCITS CCF – Storebrand – Global ESG Plus Fund bringing the total investment to over £330m 

 

LPF's selection of the Storebrand Emerging Markets ESG Plus strategy represents a significant move for an LGPS scheme, opting for an approach that helps reduce exposure to fossil fuels in both developed and emerging markets, as well as benefitting from the fund's allocation to climate solutions companies. 
 

The ESG Plus family of funds are equity strategies that exclude fossil fuel companies, defined as those whose revenues from fossil-related activities exceed 5% of total revenue, and aim for long-term alignment with the Paris Agreement, they deliver lower carbon risk with a higher allocation to climate solutions companies and better ESG scores than their indices[2]. 
 

Tim Heffer, Storebrand Asset Management representative in the UK, said: 
"We are delighted to be working with the Lewisham Pension Fund, which shares our desire to invest in alignment with the goals of the Paris Agreement and to reduce portfolio climate risk.” 
 

Lauren Juliff, Storebrand Asset Management representative in the UK, said: 
"Climate related investment risk remains a pressing concern for the UK LGPS. Through this partnership with the Lewisham Pension Fund, Storebrand has expanded its offering for UK pension schemes and launched its award-winning, well established[3] climate-aware emerging markets equity strategy on the AMX platform." 

 

Jan Erik Saugestad, CEO Storebrand Asset Management, said: 
“This is an important step for Storebrand Asset Management's international development and particularly our UK business. It is also welcome endorsement of our sustainable investment solutions.”
 

Ryan Tully, Business Development, AMX by Carne, said:
“We are extremely pleased to facilitate the launch of this second tax efficient, ESG fund with Storebrand.  It demonstrates the value of partnerships in bringing together UK and continental European investors, Nordic asset managers and a range of service partners - to create sustainable solutions, explore opportunities and build relationships.” 

 

[1] As at 30 September 2022 
[2] Morningstar analysis of Storebrand Global ESG Plus Fund vs. MSCI World Index 

[3] The Storebrand Emerging Markets Plus Fund has been available in Sweden since 2016 and won a CDP Europe award based on its top 5 Climetrics rating in 2020  

 

For media enquiries:  

AMX by Carne: Órla Kelly, Head of Brand and Client Experience - orla.kelly@carnegroup.com   

Storebrand Asset Management: Sara Skärvad, Director of Communications - sara.skarvad@storebrand.com  



About AMX by Carne

AMX is building a better world for the investment industry. Launched in 2017, our platform connects investors, managers, and service providers so they can interact and transact – all in one place. AMX cuts through the complexity of investing and makes life easier and more efficient for everyone involved. 

  • We aim to connect investors, managers, and service providers seamlessly 
  • We standardise processes, so there’s one simple way of working that’s better for everyone. 
  • Everything is centralised in one place, so it’s easy to find what you need 

We use technology to transform conventional ways of working to become more nimble, responsive, and sustainable, enhancing relationships, creating connections, and bringing efficiencies.  In August 2022, AMX became part of Carne Group enabling us to offer a wider choice of products and services to the investment industry.

 

For more information: 
Website: theAMX.com
LinkedIn: AMX
Twitter: @AMXchange
 

 


IMPORTANT INFORMATION 

This is marketing communication, and this document is intended for UK investors only.  

Strategy performance track record represented by Storebrand Emerging Markets Plus. A Swedish domiciled fund not for sale in the UK but used as a representative track record for the strategy. All other data is provided for the AMX CCF. This is a marketing communication approved by The Asset Management Exchange (Ireland) Limited (AMX).  

 

Statements reflect the portfolio managers’ viewpoint at a given time, and this viewpoint may be changed without notice.  

 

Storebrand Asset Management AS is a management company authorised by the Norwegian supervisory authority, Finanstilsynet, for the management of UCITS under the Norwegian Act on Securities Funds and is appointed as Portfolio Manager for the AMX UCITS CCF – Storebrand – Emerging Markets ESG Plus. Storebrand Asset Management AS is part of the Storebrand Group. 

 

This information is for investment professionals only who are or who would be classified as (1) Professional Clients under the applicable FCA rules, and who, if they are US residents or citizens, are or would be qualified as “Qualified Purchasers” under the US Investment Company Act 1940 and “Qualified Eligible Persons” under the US Commodity Futures Trading Commission regulations and is specifically not intended for any other persons including persons who are or would be classified as Retail Clients under applicable FCA rules, or (2) current and potential investment managers of AMX funds.  

 

For general information purposes only. This material is for general informational purposes only and should not be considered a substitute for specific professional advice. In particular its contents are not intended to be construed as the provision of investment, legal, accounting, tax or other professional advice or recommendations of any kind, or to form the basis of any decision to do or to refrain from doing anything. This material should not be relied upon for investment or other financial decisions and no such decisions should be taken on the basis of its contents without seeking specific advice.  

 

The Asset Management Exchange CCF (the “Fund”) is an umbrella Common Contractual Fund, authorised by the Central Bank of Ireland as a Qualifying Investor Alternative Investment Fund pursuant to the Investment Funds, Companies and Miscellaneous Provisions Act 2005, as amended. The authorised Alternative Investment Fund Manager of the Fund is AMX Ireland. The Asset Management Exchange UCITS CCF (the “Fund”) is an umbrella Common Contractual Fund, authorised as a UCITS by the Central Bank of Ireland pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011, as amended. The management company of the Fund is AMX Ireland. AMX UK is appointed as a Distributor. The value of all investments and the income from them can go down as well as up and neither is guaranteed. Investors may not get back the amount invested. Past performance is not a reliable indicator of future returns. AMX does not warrant the accuracy, adequacy or completeness of the information and data, which has been provided by third parties, contained herein and expressly disclaims liability for errors or omissions in this information and data. No warranty of any kind, implied, expressed or statutory, is given in conjunction with the information and data here presented." 

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