The manager of Banco Santander launches a sustainable fund with a social focus
Santander Asset Management, manager of Banco Santander, has launched an equity fund with a social investment objective together with the NGO (NETWORK)Santander Prosperity, which is registered as article nine of the SFDR (EU Sustainable Finance Disclosure Regulation) and will donate 15% of your commissions. In this way, this new vehicle will focus on “innovative companies that with their products and services face the great challenges of our society, with a special focus on health and wellnessfood and nutrition, and financial education and inclusion”.
As reported, a part of the fund will be allocated to microcreditswhich will help through investment in listed financial companies that favor this type of loans and to small banks that have a relevant percentage of these. Samantha Ricciardoglobal CEO of Santander Asset Management, has announced that despite the returns that have been collected this year, “you cannot lose sight of the focus of the ESG investing“, which he considers “incredibly important”. Likewise, he has stressed that having this ESG character does not mean giving up performance.
The person in charge of Santander Wealth Management & InsuranceVictor Matarranz, added in the presentation of the product that in private markets there are more products focused on the social sphere of investment, but not so many that invest in public companies. The fund is domiciled in Luxembourg and has begun to be marketed in Spain, Portugal, the United Kingdom, Germany, Chile and the centers in which it operates International Private Banking (BIS). Later, they hope to launch it also in Brazil, Mexico and Poland. Commissions will be 1.25% and the vehicle does not have any pickup target.
By geography, a third will be focused on the United States, a little more than a third in Europe and the rest will be divided between Japan and Latin America. Investors will be able to invest in the vehicle from 100 euros. Some of the companies in which the vehicle will invest are the American company Edwards, which manufactures heart valves, the salmon company Mowi and the English education company Pearson. At the moment, the firm has not identified no Spanish company for your portfolioalthough they do have pre-screened national companies.
For this launch, Banco Santander has teamed up with the NGO (RED), co-founded by Bono and Bobby Shriver in 2006 to raise funds for the fight against AIDS. In this way, the fund will donate 15% of its commissions to “promote projects that contribute to the strengthening of health systemstreatments and attention to those communities that are most in need and in which pandemics hit the hardest.
The president and chief operating officer of (RED), Jennifer Lottohighlighted during the event that the objective is not only to attract money to these causes, but also the attention. “The Santander Prosperity fund is not just a financial investment, but an investment in our collective health and humanity,” she explained. With this, Santander AM reaches the 71 investment funds socially responsible that jointly exceed the 38 billion of euros under management.
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