Spanish largest insurer Mapfre has launched a full range of ESG products in collaboration with La Financière Responsible one year after acquiring a 25% stake in the French manager focused on socially responsible investments.
The new fund Capital Responsible (Responsible Capital) will be managed by the asset management arm of Mapfre while it will benefit from the consultancy services of La Financière Responsible, in a pioneer partnership between the two firms following the acquisition.
The Fund, to be domiciled in Luxembourg, will be mainly distributed across Spain and France targeting both retail and institutional investors. The fund is the first of its kind to be launched in Spain and will invest in the shares and fixed income securities of European companies selected on the basis of their ESG attributes, following a strategy that will focus on preservation of capital.
Mapfre’s wide range of ESG products is complemented by a pension scheme – Mapfre Renta Largo FP – and a mutual society (EPSV). The company has recently announced its adherence to the Principles of Responsible Investment (PRI), in a move aimed at aligning its investment policy with its commitment to socially responsible investment.
The new Fund follows the launch of the Good Governance Fund unveiled at the end of 2016. It is a mutual fund managing €40m in assets that combines the concepts of high-value investment and good corporate governance. It is invested in the French franchise Carrefour, the Spanish holding Ferrovial and the automotive company Renault, among others stocks.
Mapfre AM is the Group’s fund management company in Spain. Its investment philosophy combines long-term value creation and protection of equity. Its main areas of expertise are focused on both European variable and fixed income and allocation of assets.