Amplify Issue 20: COP27 Fund groups rethink ‘green’

by Will Robins | Nov 16, 2022 | Newsletters

With COP27 well under way, we hear from the ground in Sharm el-Sheikh on the outcome of Wednesday’s finance day, while ESG heads reflect on the lack of progress from last year. We also examine the latest funds turning three years old and look at outperforming multi-asset funds managing less than $100m.

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COP27: Fund groups rethink ‘green’

Citywire Amplify - asset management uncovered

I’m writing this from my hotel room in Berlin, a short walk from the Brandenburg Gate. Yesterday I watched as climate protesters who had climbed on top of the monument were removed by cranes.

The day was chosen because it was the 33rd anniversary of the Berlin Wall coming down. But it also coincided with climate finance discussions 4,000km away in Sharm el-Sheikh. Amplify reporter Nour Azhar spoke to Ninety One’s Annika Brouwer, who said investors no longer have the excuse of not knowing where to deploy their committed spending.

She also caught up with several senior sustainability leaders from fund groups, who took part in a Citywire roundtable discussion for COP26. A year on, with an energy crisis to contend with, some views are turning from idealistic to pragmatic.

The fund buyers I’ve spoken to here at Citywire’s Berlin conference reaffirmed the importance of the three-year track record. Frank Talbot has the latest list of funds hitting that milestone, including an impressive fourth-percentile tech fund. We also have more AAA managers running under $100m, this week in the mixed-assets sectors. A selector told me last night that they won’t back a fund under $200m, but there are some great performances out there.

And as the dust settles on the LDI scandal in the UK, Citywire chairman (and trained lawyer) Lawrence Lever asks: will there be a case to litigate? He believes legal teams will have their work cut out.