Covéa Finance, the asset management subsidiary of French insurers MAAF, MMA et GMF, has announced the launch of a fund range dedicated to the theme of environment.
Explaining the move, the manager argued the transition of production and consuming methods has become a major economic issue, relying on estimations according to which three planets Earth would be needed by 2050 to provide enough resource for the maintaining of current human lifestyles.
Four global equity funds compose Covéa Finance’s new fund range: Covéa Aeris, Covéa Solis, Covéa Aqua and Covéa Terra. All were launched on 27 June 2018.
The Covéa Aeris fund is invested at a minimum of 60% in stocks of companies that have a positive impact on air quality through either their role in the decrease of greenhouse gas emissions or the low carbon profile of their activities.
At least 60% of the Covéa Solis fund’s net assets are exposed to companies involved in the energy transition while the Covéa Aqua fund invests 60% or more of its net assets in stocks related to the theme of water.
Lastly, the portfolio of the Covéa Terra fund is positioned at least at 60% on companies depending of their commitment in positive actions for environment (circular economy, recycling, waste management, sustainable food, products and services limiting food wastage, paper manufacturers).
Covéa Finance managed €97.9bn in assets as of end December 2017 and runs 42 funds.