French asset manager Carmignac will convert its commodities fund into a "socially responsible thematic equity fund" that will invest in companies leading the charge against climate change, Investment Week can reveal.
The Paris-based firm has written to unitholders informing them it will rebrand its €227.4m Carmignac Portfolio Commodities to Carmignac Portfolio Green Gold on 15 May. The fund will continue to be managed by Michel Wiskirski and will see its fees remain at a 0.85% AMC and 1.17% OCF. Carmignac said the rebrand would help it to "challenge the traditional investment approach to climate change". As of next month, the fund will invest in "companies providing products or services that are actively addressing climate change mitigation". Carmignac eyes 'turnaround' in 2020 as outflows slow ...
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