Nordea AM rebrands diversity fund in engagement push
'Expanding the investment focus of this fund gives us a broader scope, which translates into broader impact.'
As part of the plans, the Nordea 1 — Global Gender Diversity fund will be rebranded to mirror the expansion of its universe to Nordea 1 — Global Diversity Engagement fund, effective from 31 August 2023.
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The move comes as Nordea AM becomes a founding member of the Diversity Project Europe, which is set to launch in the autumn.
The company explained the change of focus within its diversity and inclusion strategy stems from social demands evolving beyond just gender representation. With the change, Nordea AM said it aims to capture a broader range of companies in the early stages of D&I development.
Julie Bech and Audhild Aabø will continue to manage the fund and its expanded portfolio. The investment process will remain the same, but engagement with investee companies will become a core component of the strategy.
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This is the second Nordea AM fund to include engagement as a defined element of the investment process, following Nordea 1 — Global Climate Engagement fund, which launched in April 2022.
Bech said: «Expanding the investment focus of this fund gives us a broader scope, which translates into broader impact. The refocusing also allows us to place a stronger emphasis on engagement in order to drive both alpha and social change.»
The Global Diversity Engagement fund will also be reclassified as an SFDR Article 8 product, Nordea AM added.
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