The £30 billion Brunel pension fund’s search for a multi-asset credit manager, which Funds Europe reported here, is one of several developments in multi-asset investing lately.
The scheme said it was an “exciting time” to gain access to sub-investment grade bonds, including with a strong ESG emphasis.
Morgan Stanley Investment Management will no doubt view Brunel’s mandate with interest. The firm has rolled out an ESG multi-asset strategy. Although it invests in green bonds, the fund is not limited to debt and invests globally with a tilt towards stocks transitioning towards net-zero carbon.
The firm said there were “few options” for investors wanting to invest sustainably through multi-asset stock and bond markets.
Elsewhere in multi-asset investing, Schroders has launched a range of “risk-aligned” multi-asset funds combining active and passive investments. The funds will increase exposure to active managers when the economy is starting to slump. Recent research showed that actives performed well in the second half of the year, amid volatility and when economies were certain to be heading for a downturn.
Finally, Switzerland’s Vontobel Asset Management has started marketing a multi-asset portfolio to UK investors.
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