Maybank Asset Management in Malaysia has expanded its ESG product offering with the launch of a technology-focused sustainable fund, according to a statement from the firm.
The Maybank Global Sustainable Technology Fund is a qualified sustainable and responsible investment (SRI) fund under the guidelines on Sustainable and Responsible Investment Funds.
The strategy will invest primarily in a portfolio of global technology-related equities, with Willington Management in Singapore as its fund investment adviser. It will invest directly or indirectly through collective investment schemes, including exchange-traded funds, it added.
As the fund is a qualified SRI product, the investments will be subject to ESG integration methodologies.
“It is a very exciting period in the tech sector, and our new fund offers savvy investors the platform to mine opportunities by investing in a suite of sustainable tech companies,” Ahmad Najib, CEO at Maybank AM, said in the statement.
Leveraging on Wellington Management’s capabilities, the fund will be able to cover the different segments in the technology sector, including information technology services and payment processors, tech hardware and equipment, semiconductors and semiconductors equipment, internet and gaming, and software, the statement added.
The new fund follows the rollout of the firm’s global ESG product in September last year – the Maybank Global Sustainable Equity-I Fund. That fund was launched in partnership with Schroders in Singapore, which serves as the product’s investment adviser. The strategy integrates ESG factors into its investment process and is also shariah-compliant.
As of the end of December, Maybank AM managed MYR 32.5bn (8.03bn) in assets, according to the statement.