Fidelity International has unveiled a UK version of its Luxembourg-domiciled Sustainable Water and Waste Sicav after a successful first year.
The firm said the UK-domiciled Oeic has been launched after assets in the Sicav reached $1bn (£760m) since inception just over a year ago.
The global fund, managed by Bertrand Lecourt, invests in companies involved in the design, manufacture, or sale of products and services in connection with the water and waste management sectors.
Le Court said: “The story of water and waste is as old as the story of civilisation. Just as there can be no economy without water, a sustainable economy relies on its approach to waste management. Yet despite this, companies in the sector remain relatively unexplored by investors and there’re very few funds dedicated to this unique theme.”
The fund will sit alongside five products in Fidelity’s sustainable family funds range: two sustainable thematic funds focusing on carbon reduction and water and waste, as well as three best-in-class equity and fixed income funds.
Fidelity International head of wholesale John Clougherty (pictured) said: “Today, our clients expect us, as stewards of their capital, to steer companies towards the right business decisions. Environmental concerns have also grown, with investors being increasingly aware that their investments can have a direct impact on, for example, climate change and water scarcity.”
