Crédit Agricole Asset Management has launched a thematic water fund, CAAM Funds Aqua Global. This SRI international equity fund aims to achieve long-term capital growth by investing in selected companies worldwide that generate at least 25 per cent of their turnover through activities related to water. This sub-fund is one of CAAM’s international SICAV (open-ended) funds, domiciled in Luxembourg and is UCITS III compliant. The fund combines financial and ESG (environmental, social and governance) criteria to select stocks. Starting with a universe of 225 stocks involved in the water sector, these financial and non-financial filters enable the construction of an optimised portfolio of some 40 stocks. CAAM says that the outcome of this selection process is that, on average, more than 60 per cent of the revenues of the companies in the portfolio relate to the theme of water.