UBS Asset Management has reported its UBS ETF (LU) MSCI World Socially Responsible Ucits ETF reached reported assets of €1.23bn as of the end of July - a first for a European exchange traded fund focused on ESG.
The strategy physically tracks the MSCI World Socially Responsible 5% issuer capped TRN index, which includes companies that represent the top quartile on ESG criteria, according to the index's methodology. It gives access to shares of companiues in 23 countries, with a 5% cap on any one issuer.
Andrew Walsh, head of Passive & ETF Specialist Sales for UK & Ireland, UBS Asset Management, said: "This milestone represents a further confirmation of our commitment to meet the increasingly sophisticated needs of investors. We want to continue to stay at the forefront in developing innovative products and solutions for our clients, helping them to align their investments and ESG goals."
UBS AM has reported strong growth in sustainability focused ETF assets in Europe in the first half of 2019. Total AUM hit €17bn, up 70% compared to the end of 2018. Equity instruments remain the preferred segment in this space, it said, representing 84% of total asets, although fixed income has seen strengthening flows in the past 12 months, to assets of some €2.8bn.