Natixis Investment Managers subsidiary, Mirova, has launched two Article 9 bond funds – the Mirova Euro High Yield Sustainable Bond fund and the Mirova Euro Short Term Sustainable Bond fund.
The former will target bonds issued by high-yield, impact-generating companies with a crucial need for financing, particularly across the areas of medical care, sustainable mobility, clean packaging, recycling or waste treatment, and sustainable real estate.
Mirova will seek to identify companies it believes are working towards a “more eco-friendly and sustainable planet and society” and those promoting circular economy characteristics. The conservation and reuse of scarce resources will be a core component of its strategy, it said.
It consists of a portfolio of 80 issuers with “credit rating upgrade potential” and strong yields, whose solutions are helping accelerate the transition towards a more sustainable economy.
Elsewhere, the Mirova Euro Short Term Sustainable Bond fund seeks to reduce the negative impacts of interest rate hikes on the “absolute performance of the portfolio” and benefit from yields on maturities of less than four years that are now attractive again.
It invests in green and sustainable bond programmes and companies that need financing in the short and medium term to address and provide solutions to sustainable development concerns.
The portfolio will be aligned with a maximum 2°C global warming scenario. Both funds classified as Article 9 under SFDR.
Hervé Guez, CIO of equity and fixed income and social impact at Mirova, said: “Today, more than ever, we must give priority to financing that contributes to environmental and social development.
“2022 has unfortunately shown us that the problem of energy dependence must be addressed as quickly as possible and integrated into a longer-term energy transition plan. Our two new funds align with this wish and with Mirova’s mission.”
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