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Pimco launches ESG investment platform

Pimco launches ESG investment platform

US asset management giant Pimco has launched a new environmental, social and governance (ESG) bond fund amid a wider push to improve its ESG credentials, the company has announced.

The Pimco GIS Global Bond ESG fund is launched for investors in EMEA (Europe, the Middle East, and Africa) countries and will invest in a range of sovereign and investment-grade corporate bonds from around the world.

The team managing the fund will be led by managing director and CIO of global fixed income, Andrew Balls, as well as portfolio manager and co-head of the ESG initiative at the firm Alex Struc.

The fund aims to maximise total return while favouring issuers with the best-in-class ESG practices and those that are working to improve them.

The newly-estabalished ESG platform will see the team engage with companies, encouraging them to improve their ESG practices and influence long-term changes.

In addition to this, Pimco has enhanced two of its socially responsible funds in the US to incorporate a wider range of ESG considerations into the investment process.

These funds are managed by a team led by managing director and CIO for US core strategies, Scott Mather and Struc.

Commenting on the launch, Citywire + rated Balls said: ‘For many investors, screening out undesirable investment categories isn’t enough anymore; they want to use their investments to promote change in the world.'

Struc, who currently runs the PIMCO Select Euro Aggregate High-Quality fund, said: ‘Historically, this type of strategy has been pursued by equity investors but we firmly believe that engagement as a debtholder is equally important. Across the vast fixed income universe, small change can have an enormous positive impact.’

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