American asset manager OppenheimerFunds has joined forces with Switzerland’s Pictet Asset Management to introduce an environmentally-focussed equity fund.

The new vehicle, dubbed Ofi Pictet Global Environmental Solutions Fund, is benchmarked against the MSCI All Country World Index.

It will offer exposure to companies providing products or services to actively address environmental challenges.

Pictet Asset Management will oversee the investment management of the fund’s assets.

OppenheimerFunds’ Private Client Group, headed by Ned Dane, will distribute the fund through its platform to HNW customers and advisers.

“Increasingly our clients are seeking investment strategies that align with their values,” said Dane. “Our partnership with Pictet Asset Management, a recognised leader in environmental investing, reflects our commitment to sustainable solutions and continues our history of providing innovative investment strategies to meet our clients’ needs,” Dane noted.

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The fund will be run by Pictet head of environmental thematic investing Luciano Diana, along with Pictet senior investment managers Gabriel Micheli and Simon Gottelier.

“People around the world are becoming increasingly aware of the harm to human health that is caused by environmentally-destructive economic development. Because of this increasing awareness, we expect companies that contribute to environmental solutions should experience above average growth over the long-term,” Diana stated.