AMX and Storebrand launch tax transparent ESG fund
26 November 2021 UK
Image: trahko/stock.adobe.com
Asset Management Exchange (AMX) has launched a tax transparent Common Contractual Fund (CCF) for Storebrand Asset Management AS.
The tax transparent structure of Global ESG Plus allows Storebrand to position their climate risk mitigation strategy to UK pension funds and other European investors, while offering withholding tax savings.
Its strategy excludes fossil fuel companies that have fossil-related activities exceeding 5 per cent of total revenue, and instead, aims for alignment with the Paris Agreement goals.
It also demonstrates lower carbon risk with better climate solutions and environmental, social and governance (ESG) scores than the global index, according to AMX.
Speaking on the launch, Jan Erik Saugestad, CEO of Storebrand, comments: "By using the AMX UCITS CCF we are able to meet the demand of pension schemes in the UK and beyond, who seek to address the climate emergency and access global equity strategies in the most tax efficient manner. This fund represents an important step for Storebrand's international development and is a welcome endorsement of our sustainable investment solutions."
Oliver Jaegemann, CEO of AMX, adds: “The launch of this fund is another significant milestone for us leading the evolution of our industry by reimagining the investment ecosystem. From a technical perspective it delivers an ESG-focused strategy in a tax transparent pooled fund. From an ecosystem perspective, this is a great example of UK investors, Nordic asset managers and a range of service partners coming together to create solutions, explore opportunities and build relationships.”
The tax transparent structure of Global ESG Plus allows Storebrand to position their climate risk mitigation strategy to UK pension funds and other European investors, while offering withholding tax savings.
Its strategy excludes fossil fuel companies that have fossil-related activities exceeding 5 per cent of total revenue, and instead, aims for alignment with the Paris Agreement goals.
It also demonstrates lower carbon risk with better climate solutions and environmental, social and governance (ESG) scores than the global index, according to AMX.
Speaking on the launch, Jan Erik Saugestad, CEO of Storebrand, comments: "By using the AMX UCITS CCF we are able to meet the demand of pension schemes in the UK and beyond, who seek to address the climate emergency and access global equity strategies in the most tax efficient manner. This fund represents an important step for Storebrand's international development and is a welcome endorsement of our sustainable investment solutions."
Oliver Jaegemann, CEO of AMX, adds: “The launch of this fund is another significant milestone for us leading the evolution of our industry by reimagining the investment ecosystem. From a technical perspective it delivers an ESG-focused strategy in a tax transparent pooled fund. From an ecosystem perspective, this is a great example of UK investors, Nordic asset managers and a range of service partners coming together to create solutions, explore opportunities and build relationships.”
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