AFFIN HWANG AM LAUNCHES GLOBAL CLIMATE CHANGE FUND

KUALA LUMPUR, March 25  -- Affin Hwang Asset Management Bhd (Affin Hwang AM) has launched the Affin Hwang World Series – Global Climate Change Fund, a wholesale feeder growth fund.

The fund provides investors with access to opportunities in global equities that will benefit from efforts to transition the world into a low-carbon economy.

In a statement today, Affin Hwang AM said the fund will feed into a collective investment scheme, namely the Schroder International Selection Fund Global Climate Change Equity (target fund) which is managed by Schroders.

“To achieve its investment objective, the fund will invest a minimum of 80 per cent of the fund’s net asset value (NAV) into the target fund and a maximum of 20 per cent of the fund’s NAV into money market instruments, deposits and/or cash,” it said.

Chief marketing and distribution officer, Chan Ai Mei, said sustainable investing has taken off significantly in Asia (excluding Japan), attracting over US$7.9 billion of net inflows as the global pandemic highlights the importance of environment, social and governance (ESG) as well as global challenges.

These include global warming and climate change, which have exposed deep fissures in society, especially in terms of inequality, she said.

“With coordinated efforts by governments to tackle climate change, especially as the United States officially re-joins the Paris Climate Agreement, we see opportunities in this space as governments pledge to increase fiscal spending towards clean energy and green infrastructure.

“Investors can participate in this theme through our newly launched fund, not only to tap into climate change winners, but also solve a global crisis together,” she added.

Affin Hwang AM said the fund’s base currency is the US dollar, and it is also offered in four currency classes, namely the US dollar, ringgit-hedged class, Singapore dollar-hedged dollar and Australian dollar hedged-class, with a minimum investment of US$5,000 for all listed currency classes.

-- BERNAMA