Bankia offers new SRI fund

Bankia, the Spanish bank, has launched Bankia Futuro Sostenible, a responsible investing fund that looks to opportunities via impact investments.

The fund offers two share classes: the universal class with a minimum investment of €100 and 1,75% management fee, and an institutional class that requires a minimum investment of €100,000 and has a management fee of 1,25%.

According to a report issued by Spainsif, impact investments are those which pursue both the financial profitability and the positive social and/or environmental impact, actively measured.

The fight against proverty, inequality and hunger, and the promotion of clean water and sanitation are among the major societal issues this global equity fund has targeted.

Augusto Caro, Bankia’s head of management, said: “The fund has two clear objectives: one is to provide Bankia’s customers the possibility to directly invest in companies and funds with a positive social/environmental impact, and the second is to allow them to obtain a significant return through an investment on an equity fund.”

“Financial and extra-financial objectives are compatible, as the incorporation of extra-financial criteria reduces the reputational risk of the companies in which the fund invests, and addresses major social and environmental challenges, which should lead to a better performance of the fund in terms of profitability.”

Bankia Fondos commercial director Pablo Hernández said: “This is an unique fund in the Spanish market. The majority of SRI funds marketed in Spain develop their strategies based on exclusion criteria – weapons, pornography, tobacco, nuclear power or child exploitation.”

“Bankia Futuro Sostenible goes a step further. Companies do not just have to act responsibly, they must also offer positive solutions to major problems.”

The fund will invest a minimum 75% in the stock market – both in shares and in other collective investment institutions – and a maximum of 25% in public and private fixed income, denominated in euros and offering exposure to OECD countries.

Eugenia Jimenez
Eugenia Jiménez speaks Spanish and is Iberia Correspondent for Investment Europe covering Spain & Portugal, as well as assisting with coverage of Italy. She holds a UK NCTJ- accredited Multimedia News Reporting course and studied Journalism at the University of Sevilla. She has worked for local media organisations in Sevilla and Málaga, mainly in broadcasting as a news reporter, among other roles. She has also worked for a local newspaper in Sevilla, reporting on current affairs, local government and culture.

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