French SRI boutique Mirova, part of Natixis Global Asset Management, has launched the Mirova Euro Sustainable Bond fund, InvestmentEurope has learned.
The fund, which had €60.84m of assets under management as of end November 2017, invests in a broad range of euro-denominated fixed income securities that includes green and social bonds.
Bonds eligible to the fund must fit Mirova’s environmental, social and governance criteria policy. The fund also applies an additional filter to remain compliant with the Catholic Church’s social and moral doctrine.
The France-domiciled vehicle seeks to outperform the Bloomberg Barclays Capital Euro Aggregate 500MM index (reinvested coupons) over a two-year investment horizon at least.
Bloomberg’s index gathers investment grade credit and sovereign bond securities whose issuance exceeds the €500m threshold.
The fund can invest up to 50% of its assets in high yield securities, split as following: 20% in high yield corporate bonds and 30% in high yield sovereign bonds.