News in brief: 9 October

- Sweden’s AP1 and TOBAM, have announced they have adopted a new fossil-free approach to emerging market equity and global high yield exposures.

TOBAM now applies a 100 per cent fossil-fuel free approach to the Anti-Benchmark® Emerging Markets Equity and Global High Yield strategies funds, which employ TOBAM’s proprietary Maximum Diversification® methodology. This means companies with significant involvement in the production, sales or extraction of fossil fuels (including coal, coal power generation, oil and gas) are excluded from the investment universes of both strategies.

- Calvert Research and Management, a subsidiary of Eaton Vance Corp., has announced the launch of the Calvert Institute for Responsible Investing (Calvert Institute), an affiliated research institute dedicated to driving positive change by advancing understanding and promoting best practices in responsible investing.

Initially launched in North America, asset owners and investors in Europe and Asia will now have access to Calvert Institute’s work by connection to its online hub hosting its latest research as well as dedicated client events and webinars. Through research, education and collective action, the Calvert Institute seeks to direct the power of the financial markets increasingly to addressing the leading global challenges of our time, including environmental degradation, climate change, racial inequality and social injustice.

- Border to Coast Pensions Partnership has appointed two specialist China equity managers, UBS Asset Management and FountainCap Research and Investment (Hong Kong) Co., Ltd, to supplement its existing Emerging Market Equity Fund, which, subject to market conditions and additional partner fund investments is expected to increase to c.£900m.

Reflecting the increasing importance of China within emerging markets, Border to Coast is creating two separate sleeves within its Emerging Market Equity Fund – one for China to complement the internally managed sleeve. It is expected that £300-500m will be allocated to the two managers, subject to market movements and the investment decisions of Border to Coasts’ eleven partner funds.

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