UK-based Impax Asset Management has been selected to manage the Desjardins SocieTerra Environment Fund, thought to be one of the first socially responsible investment funds to be launched in Canada
The £87m Desjardins SocieTerra Environment Fund, will be run using the same process as the £32m Impax Global Opportunities (GO) strategy, which was launched five years ago and is managed by Kirsteen Morrison (pictured) and David Winborne.
The pair also run a £684m mandate for St James’s Place, a portion of a £1bn mandate for the West Midlands Pension Fund and a £95.2m Better World Global Opportunities fund for Danish asset manager Formuepleje.
Over the five years to 31 March, the Impax Global Opportunities fund has returned 57.5%, compared to the MSCO ACWI return of 37.8%, according to the group.
The fund uses Impax’s proprietary Sustainability Lens to invest in companies possessing sustainable competitive advantages, across listed equity markets and sectors.
Sébastien Vallée, general manager, investment solutions development and management at Desjardins Investments, said: “This new appointment represents an extension of our relationship with Impax, which has also managed the Desjardins SocieTerra Cleantech Fund since 2016. Impax is well recognised worldwide for its expertise in understanding investment opportunities arising from the transition to a more sustainable economy. As the global economy shifts to become more sustainable, the set of related investment opportunities is expanding rapidly.”
Co-portfolio manager of the GO strategy Morrison said: “Five years ago, we decided to launch this strategy because of the increasing evidence of the disruption that is happening in the world economy. A series of major factors are playing out in the world which we believe will profoundly shape private sector markets over the coming decades, including demographic change, resource scarcity, inadequate infrastructure, and environmental constraints. We don’t believe that the disruption caused by covid-19 has negatively impacted the long-term growth opportunity of our investment universe.”