UBS Global Wealth Management (GWM) has released its Multi Managers Access II – Future of Earth Fund.
The aim of the fund is to generate a compelling return by investing in companies addressing environmental issues and similar hurdles.
Furthermore, it will focus on four themes: people, health, communities; sustainable energy; land; and water.
According to the UBS Future of Earth report, the fund will select companies set to benefit from long-term sustainability trends. It is also aligned to the United Nations Sustainable Development Goals (UN SDGs) and takes ESG risks and opportunities into consideration.
In addition, the fund utilises the capabilities of multiple active equity portfolio managers, each responsible for one of the themes. The portfolio managers (Allianz Global Investors, Pictet Asset Management, Polar Capital, and Robeco) will be benchmarked against a specific MSCI thematic index.
Bruno Marxer, head of global investment management at UBS Global Wealth Management, said: “In an environment of rising bond yields and increased volatility, we see an opportunity for investors looking to position for structural growth. This fund allows us and our clients to harness the power of investing towards preserving our planet for the next generation and gaining exposure to the sectors set to lead the way. Investors should consider this fund as part of a diversified long-term portfolio.”
This is the fourth thematic UBS GWM fund after Digital Transformation Dynamic, Digital Transformation Themes, and Future of Humans. To date, the three funds have gained $2.6bn in assets under management combined.
The move is said to be part of the bank’s restructuring plan to save $1bn over the next three years.
The move will impact employees ranging from managing director to junior employees, Bloomberg reported citing people familiar with the matter.
According to the sources, UBS is planning to cut as many as 700 jobs in Switzerland alone.