![]() One of the key aspects of impact investing is measurability, after all. These large parts of the investment universe occupied by tech giants and the like are essentially off-limits to impact investors. Greening the economy: the future of sustainable investing “In that sense, it’s been tougher for us.” This year has been challenging, he explains, with large-cap stocks dominating performance and smaller and mid-size stocks lagging. In 2019, however, performance was strong at over 22%. Year-to-date, the fund is performing at -9.13%, according to data from UBS AM. “The results are promising but mixed, especially given that the market has been dominated by huge tech companies that are not part of any impact-investment universe,” Bertocci tells Funds Europe from Chicago. ![]() Turmoil caused by the pandemic has played a particular role in this recently. Nearly three years on from its launch in October 2017, overall average performance was at roughly -2% as of the end of June. Tracking the MSCI All-Country World index, the Luxembourg-domiciled fund has been on a bumpy road since its inception. To set up the fund, UBS AM worked alongside scientists to develop a bespoke methodology that measures the positive impact of equities on issues “fundamental to impact investing” such as climate change, air pollution, clean water and water scarcity, treatment of disease and food security. It’s still early days for impact investing in public equity, says Bruno Bertocci, fund manager of the UBS (Lux) Equity Sicav – Global Impact Fund, and head of the sustainable equity team at Zurich-headquartered UBS Asset Management (UBS AM). There remain many challenges to overcome. Three years on from the launch of UBS Asset Management’s global equities impact strategy, Alex Rolandi analyses its performance and speaks with fund manager Bruno Bertocci about his hopes for the fund.įinding the balance between generating returns and making a positive social and environmental impact is no easy feat.
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