On the go: The Aon MasterTrust and Group Personal Pension Plan made a £700mn investment in February 2022 to a new climate transition fund co-developed and co-launched by the consultancy and UBS Asset Management.
According to a statement, the UBS Global Equity Climate Transition Fund provides investors with a vehicle that mitigates climate-related investment risks while aiming to have a positive effect on society.
The Aon MasterTrust and Group Personal Pension Plan seed investment in the fund was made using assets that had previously been allocated to indexed equities.
The new fund tilts towards companies with revenues aligned with selected UN Sustainable Development Goals relating to health, clean energy, decent work, responsible consumption and production, and climate action, UBS stated.
It leans towards companies that are better placed for the transition to a low-carbon economy and have higher sustainability characteristics than the benchmark, where the aim is to shape the portfolio towards a net zero trajectory in line with the Paris agreement, it added.
Joanna Sharples, chief investment officer at Aon defined contribution solutions, said: “We are very pleased to introduce the UBS Global Equity Climate Transition Fund into our default funds.
“Our members want to protect their investments from the effects of climate change and to make a positive social impact, as well as supporting the transition to a low-carbon economy in a sustainable way. This fund will help them to do that.”
This article originally appeared on MandateWire.com
