News: Nuveen repositions infrastructure fund towards decarbonisation
By Elliot Gulliver-Needham (Investment Week) - Nuveen has repositioned the firm's Global Infrastructure fund towards decarbonisation. The firm's new Global Clean Infrastructure Impact fund will invest in companies that are solving significant environmental challenges.
The $112.7m fund, which was launched in June 2011, has continually outperformed the benchmark, growing 4.9% since inception compared to the index's 2.2%, according to Morningstar.
The repositioned fund will be classified as Article 9 under the SFDR and will focus on firms that are working to facilitate the energy transition, the management of waste and the provision of water.
The original Global Infrastructure fund was managed by Jay Rosenberg, Tryg Sarsland, Jagdeep Ghuman and Noah Hauser, who are staying on to manage the new fund.
Hauser said: "We are thrilled to offer investors access to a strategy which focuses on clean infrastructure through our impact platform. Investors are increasingly looking for uncorrelated returns to protect their capital from the cost of climate change and challenging macroeconomic conditions."
He said he believed the new strategy "has the potential to offer investors downside risk mitigation through diversification whilst making a demonstrable impact on some of the greatest environmental challenges of today".
The manager added: "We look forward to working with our clients to identify innovative ways to invest in technologies, infrastructure and other assets that will be necessary to facilitate the transition to a low carbon economy through our Global Clean Infrastructure Impact strategy."