Spanish lender Banco Sabadell has launched a global equity fund that invests in themes related to the green economy including climate change, renewable energy, and water.
The green economy is defined as the economy that aims at making issues of reducing environmental risks and ecological scarcities, and that aims for sustainable development without degrading the environment.
The new fund, Sabadell Economía Verde, is a fund of funds investing over 75% of its portfolio in listed companies from 14 different sectors including renewable energy, waste management and recycling, sustainable agriculture or mobility solutions.
The investment vehicle will mostly target companies based in the US and in Western European countries since it considers that most of the listed green economy businesses are based in these markets. But the fund can also invest in Japanese and Emerging Markets equity.
Meanwhile, the Spanish bank is in talks to sell its asset management business in a deal expected to be finalised during the first months of the present year. Amundi, Allianz and Candriam have all made formal offers to buy the business but according to financial sources, Amundi stands as the potential winner.