Friday 6 March 2020

Wells Fargo announces ‘Municipal Sustainability Fund’ to drive sustainable investments

Wells Fargo announces ‘Municipal Sustainability Fund’ to drive sustainable investments

Wells Fargo Asset Management (WFAM) has announced a 'Municipal Sustainability Fund' to drive sustainable investing among its clients.

The fund uses a municipal bond assessment framework developed through a partnership of municipal bond professionals and Environmental, Social and Governance (ESG) experts - municipal bonds are generally used to finance improvements to infrastructure, such as schemes to clean water, tackle climate change, build schools and provide public housing.

The fund, which is managed by the firm's Municipal Fixed Income team, will invest in securities judged to have positive environmental or social impacts "at the bond or issuer level".

BlackRock is broadening its range of sustainable exchange-traded funds (ETFs) with three new products for investors looking to manage long-term risks relating to ESG factors.

Written by

Bruna Pinhoni

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