Ninety One has launched its first RMB-denominated green fund offering through the platform of Bank of China (Hong Kong) Limited (BOCHK).
The RMB share class of the Ninety One Global Strategy Fund – Global Environment Fund is recognised as an ESG fund by the a Hong Kong Securities and Futures Commission.
BOCHK stated it was responding to what it called “surging demand” for green investments and ESG products. The bank saw a 24-fold increase in the number of its ESG-only customers in the first half of 2022.
Joyce Leung, assistant general manager, personal digital banking product department at BOCHK said: “BOCHK is committed to advancing green development and has been actively facilitating our customers’ transition to a low-carbon economy. Currently, we offer up to 50 ESG fund share classes.
“We are very honoured to partner with Ninety One and become the exclusive distributor of its Global Environment Fund RMB Share Class, which incorporates ESG themes and RMB investment opportunities.”
Ninety One head of advisor business, Greater China, Marco Tang, said: [The fund] invests in companies that are committed to tackling climate risk through robust transition plans. The fund currently invests in a high conviction portfolio of around 25 leading companies to help investors achieve their long-term investment objectives and at the same time, invest sustainably.”