Amundi US has rebranded its $299m Pioneer Global Equity Fund with a sustainability tilt, the company announced today.

The Pioneer Global Sustainable Equity Fund is the third in the firm’s sustainable range, alongside Pioneer’s Global Sustainable Growth and Global Sustainable Value funds. The three funds are managed by Amundi US’s global equity team.

Along with the name change, the Global Sustainable Equity Fund has a new investment policy that formalizes its focus on ESG criteria, according to the firm. In normal times, the fund seeks to invest at least 80% of its net assets in ESG-friendly securities, “defined as the exclusion of investments issued by companies significantly involved in the production of tobacco products and controversial military weapons consisting of cluster weapons, anti-personnel mines, nuclear weapons, and biological and chemical weapons and the operation of thermal coal mines,” Amundi stated.

Currently, the mutual fund has a two-out-of-five globes rating for sustainability by Morningstar, and an analyst rating from that firm of four-out-of-five stars. The fund has a one-year trailing total return of 15.5%, compared with 5.7% for its category, according to Morningstar. Over three years, it has returned 17.7%, compared with 13% for the category, as well as 12.3% over five years, with 10.8% for its category during that time.