Cazenove Awarded ESG Investing Olympics Mandate

    Stockholm (NordSIP) – In a quest to raise awareness, normalise ESG integration and highlight best practices of sustainable investing for the wealth management industry, three UK charities launched the “ESG investing Olympics”. The winner of the first awards event held last week, Cazenove – the wealth management arm of Schroders – was awarded a £33.5 million investment mandate by the organisers.

    The ESG Investing Olympics

    The event was organised by Friends Provident Foundation, the Joffe Charitable Trust, and the Blagrave Trust. The competition was the first of its kind. The open tender’s key instruction for would-be investment managers was to impress the charitable foundations with their social and environmental integration, as well as their impact investing solutions.

    A total of 60 participants submitted proposals. Of these, five were invited to present to mission-led investors, including charities and religious organisations, at the Royal Institution in London in March 2020. They ranged from boutique impact managers to large investment houses.

    The proposals were assessed for intentional social and environmental impact and high standards of ESG integration, encompassing exclusion, engagement and its escalation, voting record, in-house expertise, and impact reporting.

    “We are delighted to announce Cazenove Capital as the winner of the ‘ESG investing olympics’ and look forward to becoming the cornerstone investors in a new best in class multi-asset class ESG fund,” Colin Baines, Investment Engagement Manager at Friends Provident Foundation, said. “Our trustees were torn between choosing an ‘evolving incumbent’ or a ‘new disruptor’ and decided on the former. We were impressed with Cazenove Capital’s proposal, which meets our new, challenging, investment policies, was well received by attendees in March, and offers the potential to achieve scale and influence the wider market.”
     “In the spirit of the ESG olympics, which set out to bring investment management out of the shadows and send a clear market signal for higher ESG standards, we will work with Cazenove Capital to continually raise market standards and best practice, and will regularly report on our experience,” Baines concluded.

    The Cazenove Sustainable Growth Fund

    The three charities will become cornerstone investors in a new best-in-class multi-asset sustainability fund – the Cazenove Sustainable Growth Fund. The multi-asset fund will launch later this year. While this fund will initially only be available to UK investors, NordSIP understands that Cazenove Capital would be open to launching an offshore version, if there is sufficient demand.

    Investors will be able to maximise the positive impact of their wealth on people and the planet whilst targeting attractive financial returns. The fund will invest across a broad range of assets such as sustainable business, development, renewable energy and social housing, combining intention with action to generate real and measurable positive impact.

    “We are thrilled to be selected by these leading purpose-led investors. Together we are committed to investing for a better future. The ‘ESG investing olympics’ set an amazing example of collaboration and transparency, breaking new ground in sustainable investing.  We look forward to continuing in this spirit, working with the charities to use their investments for good and developing best practice in impact investing,” Kate Rogers, Co-Head of Charities, Cazenove Capital, commented.

    “Our innovative multi-asset fund, launching in December, has a clear intention to generate both a competitive financial return and a positive impact on people and the planet.  Available to charities and individual investors, the Cazenove Sustainable Growth Fund will have a carbon footprint of less than half of the global equity index and will generate five times the social impact,” Rogers concluded.

    Image by InspiredImages from Pixabay
    Filipe Albuquerque
    Filipe Albuquerque
    Filipe is an economist with 8 years of experience in macroeconomic and financial analysis for the Economist Intelligence Unit, the UN World Institute for Development Economic Research, the Stockholm School of Economics and the School of Oriental and African Studies. Filipe holds a MSc in European Political Economy from the LSE and a MSc in Economics from the University of London, where he currently is a PhD candidate.

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