Danish fund house Formuepleje has chosen Impax Asset Management to manage its environmental, social and governance (ESG) fund which listed on Nasdaq Copenhagen on Thursday.
Formuepleje, which says it is the largest non-bank owned asset manager in Denmark, selected Impax’s Global Opportunities strategy to represent its own Better World Global Opportunities fund that launched in August this year.
The strategy is aimed at private clients who wish to make a positive social and environmental impact while generating returns, according to Formuepleje partner and managing director Henrik Franck.
“For too long, encouraging private investors to take climate change seriously has been a losing battle, hindered by the misconception that investing in projects that deliver a positive environmental impact means a compromise on returns,” he said.
“There is a growing recognition that private investments can play a pivotal part in finding climate change solutions as well as deliver healthy returns.”
The move forms part of Formuepleje’s strategy to invest in the transition to a more sustainable economy.
The Better World Global Opportunities strategy currently has assets of over 800 million Danish krona (€107 million).
Formuepleje has around €10 billion in assets under management.
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