News in brief: 8 October

- Irish multi-asset pension funds made a return of -2 per cent on average in September, according to Rubicon Investment Consulting.

Fund returns ranged from -0.9 per cent to -3.1 per cent. Over the third quarter of 2021, the funds surveyed delivered a 1 per cent gain on average. During the first nine months of the year the funds surveyed have delivered an average gain of 12.7 per cent. Over the past 12 months, the average return of the 16 funds surveyed is an impressive 21.9 per cent. Returns for the past year ranged from 26.6 per cent to 17.6 per cent.

- Mirova, an affiliate of Natixis Investment Managers, has launched a new Open Ended Investment Company (OEIC), the Natixis Mirova Global Sustainable Equity fund (the fund), to facilitate easier investment for UK-based investors.

The Natixis Mirova Global Sustainable Equity Fund will be almost identical to the existing €4.01 billion Mirova Global Sustainable Equity SICAV, launched in 2013, and will be managed by Jens Peers, Amber Fairbanks and Hua Cheng all of whom are based within Mirova US. The objective is to outperform the MSCI World Net Dividends Reinvested Index over the recommended minimum investment period of five years by investing in companies whose businesses include activities related to sustainable investment themes.

- Legal & General Investment Management (LGIM) has launched its Sustainable DC Property Fund in response to a growing demand from DC schemes to access real assets and to incorporate more ambitious environmental, social and governance (ESG) targets.

The fund is reshaping an existing property portfolio to include responsible investing as a core target, with explicit environmental, social and governance (ESG) objectives, including net zero operational carbon in the direct property portfolio by 2030. The fund is already measuring carbon emissions and has set reduction objectives in line with ‘science-based’ targets.

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