Fidelity International (Fidelity) has launched the UK-domiciled Fidelity Sustainable Water & Waste Fund (OEIC) after assets in its Luxembourg-domiciled equivalent sicav reached $1bn in just over a year since inception.
The Fidelity Sustainable Water & Waste Fund is a sustainable thematic fund that focuses on the water and waste management sectors.
The fund aims to provide investors with long-term capital growth by investing globally in companies involved in the design, manufacture, or sale of products and services in connection with the water and waste management sectors. It has the ability to invest across the water and waste value chains, including in companies developing new technologies to meet ever growing demand.
Bertrand Lecourt, portfolio manager, Fidelity Sustainable Water & Waste Fund, said: "The story of water and waste is as old as the story of civilisation. Just as there can be no economy without water, a sustainable economy relies on its approach to waste management. Yet despite this, companies in the sector remain relatively unexplored by investors and there're very few funds dedicated to this unique theme."
The Fund forms part of the newly-launched ‘Sustainable Family' funds range, which consists of five products; two sustainable thematic funds focusing on carbon reduction and water and waste. as well as three best-in-class equity and fixed income funds.
John Clougherty, head of Wholesale, Fidelity International, added: "Today, our clients expect us, as stewards of their capital, to steer companies towards the right business decisions. Environmental concerns have also grown, with investors being increasingly aware that their investments can have a direct impact on, for example, climate change and water scarcity.
"We have responded to our clients' demands by substantially increasing our focus on sustainable investment, including our recent introduction of our proprietary ratings system, and the launch of our Sustainable Family fund range.
The growing shift towards sustainable investing is underlined by the significant growth of our Water & Waste fund in Europe, and I'm pleased that we can now offer UK clients access to this unique and growing theme."