Neuberger Berman has formed a collaboration with UBS Global Wealth Management to repurpose a global high yield fund to focus on the United Nations Sustainable Development Goals (SDGs).
The newly-named Neuberger Berman Global High Yield SDG Engagement Fund has the primary aim of engaging systematically with issues on objectives related to the SDGs, while seeking to generate competitive yield and total returns.
Managed by Chris Kocinski, Joseph Lind, Jennifer Gorgoll and Simon Matthews, it will deliver regular reporting on its engagement progress by sharing case studies and performance indicators relating to the issuers’ products, services, operations or processes to help track progress toward the goal of positive environmental and/or social outcomes.
The fund will also incorporate proprietary ESG assessments using the Neuberger’s ESG Quotient.
Lind, senior portfolio manager at Neuberger Berman, said: “For us, delivering yield and solid returns while working with and investing in companies aiming to end poverty, improve health and education, reduce inequality, tackle climate change and spur economic growth are not mutually exclusive.”
Bruno Marxer, head of global investment management at UBS Global Wealth Management, commented: “The collaborative effort behind this new launch speaks to our ambition to provide our clients with exclusive access to solutions from leading partners, in this case enabling them to position for current market trends while helping to drive positive social and environmental change.”
The fund will be available to UBS clients in Switzerland and other select international markets exclusively for six months, after which it will open to global investors.