M&G has launched a range of five funds for UK retail investors that target social and environmental issues for underserved groups and stakeholders.
The PruFund Planet fund range was developed using an allocation of £500 million and enables financial advisers to select an investment strategy for pension clients.
The funds aim to manage ESG risks and will be initially available for financial advisers through M&G’s retirement account. ISA and bond versions will be made available next year.
PruFund Planet is said to be a “people and planet-focused” version of M&G’s existing PruFund range.
David Macmillan, chief customer and distribution officer at M&G, said that almost half of financial advisers believed their clients would like to consider ESG and sustainable investing more, but needed support.
He added that PruFund Planet is aimed at meeting a supposed growing need for retail investors, particularly in retirement, looking for a smoothed investment journey.
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