Credit Suisse Asset Management Makes ESG Announcement
The Swiss firm goes all-in on ESG factors in its decision making.
Credit Suisse Asset Management announced plans to adopt ESG factors into all of its investment decisions. The firm said that any fund with more than CHF 20 billion in assets will implement ESG criteria into its framework. The company has more than 30 actively managed funds with that level of AUM. After fully implementing these factors into the framework of those funds, it will move into other funds as well.
It will bolster the fund range for ESG standards to CHF 100 billion by the end of 2019.
Credit Suisse Asset Management Adopts ESG Standards
The company said it will adopt these ESG factors to “define the investment universe (negative screening), integrate financially material ESG information into the investment process and define the dialogue with companies (proxy voting and engagement)”.
“I am convinced that the integration of ESG criteria into our investment process will create lasting performance benefits, positioning us to generate attractive investment returns for our clients over the long term,” said Credit Suisse Asset Management head of Switzerland and EMEA Michel Degen.
ESG Hiring Boost
The firm has been on a major ESG and “impact investing” kick since 2017. At the time, the firm launched its Impact Advisory and Finance (IAF) Department.
Earlier this year, it expanded its team to improve its ESG reach. The firm hired Daniel Wild in April from RobecoSAM. Wild is the firm’s global head of ESG strategy.
In September, the company also hired ex-UBS bankers James Gifford and Helen McDonald as well as former Lombard Odier banker Guillaume Bonnel. Those hires bolstered the firm’s impact investing reach.
Latest Alternative Investment News
FinTech: Klarna’s All-In Efforts To Achieve Profitability Getting Traction
Swedish fintech company Klarna achieved a significant improvement in its financial performance during the first quarter, as it halved its net loss compared to the same period last year. The…
Alternative Investments/AI: Euclidean Technologies Launches ETF For AI-Selected Value Stocks
Seattle-based investment advisor Euclidean Technologies Management has launched its first exchange-traded fund (ETF), the Euclidean Fundamental Value ETF (ECML US). The actively managed US equity fund utilizes artificial intelligence (AI)…
Venture Capital: Matrix Partners Raises $550M For Its Fourth India Fund
Matrix Partners India, a venture capital firm focused on investments in India, has announced the closure of its latest fund, securing over $550 million in commitments. This new fund from…
Artificial Intelligence: AI Helps Researchers Find A Compound To Kill The Drug-Resistant A. baumannii Bacterium
Scientists at MIT and McMaster University have used artificial intelligence (AI) to identify a new antibiotic that can combat drug-resistant infections caused by Acinetobacter baumannii. The bacterium is commonly found…