Legal & General launches Global Environmental Enterprises Fund
Legal & General Investments announces the launch of the Global Environmental Enterprises Fund, a passively managed fund aimed at profiting from the evolution to a lower carbon economy.
Legal & General Investments has partnered with Osmosis Investment Management on this fund. Osmosis is an independent specialist investment firm with a deep understanding of environmental factors and how they impact investment portfolios. The Global Environmental Enterprises Fund uses the Osmosis Climate Solutions (OCS) Index as the basis of its portfolio.
The fund aims to provide capital growth primarily through investment in companies that are profiting from the global response to energy scarcity, pressures on natural resources and the shift to a lower carbon world economy.
Simon Ellis, Managing Director of Legal & General Investments, said: "We are launching the Global Environmental Enterprises Fund to allow investors to invest at the right price in one of the major investment themes of this decade. Across the world, companies are delivering growth and value in sectors such as low carbon energy production, energy efficiency, waste management and water use."
The portfolio is the result of a sophisticated stock selection process which identifies a list of 100 ‘pure play' environmental enterprises from the universe of all globally listed companies.
The portfolio is equally divided into three main sectors:
energy efficiency and energy management
low carbon energy production
water, waste and pollution control
It is weighted by sector rather than by market capitalisation which gives the portfolio a broad, globally diversified, thematic exposure.
June Aitken, CEO of Osmosis Investment Management, said: "We are very excited to partner with Legal & General Investments on this fund. The fact that Legal & General Investments is committed to a fund that identifies efficient solutions to environmental issues is evidence that this space is no longer niche, but a significant investment opportunity."