US-based asset manager T. Rowe Price has launched an emerging markets strategy that will help fund water infrastructure.
The fund will invest in corporate bonds issued by both financial institutions and real-sector companies in emerging markets that meet strict impact investment guidelines, developed jointly by T. Rowe Price and IFC.
These investments will support projects including, but not limited to, marine ecosystem conservation, wastewater treatment, coastal climate adaptation, and clean water infrastructure.
Altogether, funding thus far for the strategy totals more than US$200 million.
“The debut of T. Rowe Price Blue marks a significant step in addressing the need for sustainable water management and ocean preservation,” said Eric Veiel, Head of Global Investments and CIO, T. Rowe Price.
“By aligning the strategy’s investment objectives with specific water-related United Nations Sustainable Development Goals, we are not only mobilising essential capital to protect and sustain our world’s precious water resources, but we are also demonstrating our commitment to managing innovative and impactful investment strategies.”
