Mirova to merge pair of funds
Mirova, the SRI-focused boutique of Natixis Investment Managers, has decided to merge two equity funds on 1 August 2018, InvestmentEurope understands.
The FCP Foncier Investissement, domiciled in France, has been rebranded as Mirova Actions Environnement since 29 June 2018.
As part of the change, the vehicle which was formerly a feeder fund of Luxembourg-domiciled Mirova’s European listed real estate fund – Mirova Europe Real Estate Securities (€95.2m of AUM as at 31 May 2018) – will be merged into its new master fund, the Mirova Europe Environmental Equity fund, a thematic strategy that invests in companies contributing to the energy and ecology transition in Europe at the start of August.
Mirova said the merger is part of the firm’s plans to streamline certain thematic equity strategies in order to refocus on other thematic funds that have a more important AUM size.
The Mirova Europe Environmental Equity fund had €343.9m of AUM as of end May 2018.