UBS doubles sustainable assets to $2.5bn
Financial services form UBS has announced it now has a total of $2.51bn (£1.98bn) in ‘sustainable’ assets under management.
UBS Group AG, a Swiss multinational investment bank, has a sustainable portfolio which it launched in January by migrating $1.2bn (£947mn) from a previous portfolio. Seven months later, this has increased by almost $1.27bn (£1bn).
The portfolio aims to invest in shares of companies which are doing more to manage sustainability issues than their counterparts. It invests in World Bank bonds, green bonds, ESG equity funds, and companies with products or services to help solve environmental or social issues.
Eva Lindholm, UK head of wealth management for UBS, said: “Our new sustainable portfolio has helped show clients that their investments can be fully sustainable without compromising on diversification and returns. We are pleased to see such a significant demand for this solution both in the UK and beyond.”
UBS, which has dual headquarters in Zurich and Basel but employs more than 60,000 staff the world over, has also announced that it will join the Climate Bonds Initiative. The not-for-profit initiative focuses on investors and works to mobilise the $100trn bond market for climate change solutions. Other partners include Citi, Standard Chartered, Societe Generale, HSBC and Allianz.