The latest in funds and investments in North America.

Fidelity
Fidelity International has launched the Fidelity Funds - Sustainable Water and Waste Fund, a new fund focusing on sustainable investment opportunities within the water and waste management sectors.

The fund seeks to deliver “strong risk-adjusted returns across the cycle” by investing globally in companies involved in the design, manufacture, or sale of products and services in connection with the water and waste management sectors, the firm said in a statement.   

Portfolio manager, Bertrand Lecourt, will use Fidelity’s research and investment capabilities, to find the most compelling investment opportunities in what the firm said is an “under-researched sector”. 

Lecourt joins Fidelity International from Polar Capital, bringing with him over 18 years’ experience of researching water and waste utilities.

M&G Instruments
M&G Investments has rolled out an equity fund adopting a sustainable investment philosophy, part of a broader trend in the asset management sector.

The M&G Positive Impact Fund is managed by John William Olsen, with Ben Constable-Maxwell, head of sustainable and impact investing at M&G, taking the lead on the fund’s impact assessment, measurement and environmental, social and governance (ESG) characteristics.

The fund will invest in a broad range of companies, including those in emerging markets. It aims to deliver a higher total return than the MSCI All Countries World Index over any five-year period. It is a concentrated portfolio holding up to 40 companies.

The fund is diversified around six main impact areas: climate solutions, clean air, water and land, the circular economy, better health, work conditions and social equality. Across these areas, the fund invests in three types of impactful companies: “pioneers”, “enablers” and “leaders”.

Olsen and Constable-Maxwell are supported by M&G’s Positive Impact Management team who produce research and define the fund’s investable universe by reaching consensus on the impact of all potential investments. The fund embraces the United Nations Sustainable Development Goals (SDG) framework.