Fidelity Investments Canada announced the launch of the Fidelity Climate Leadership Funds, a new suite of climate-focused investment products designed to benefit from opportunities associated with the long-term global transition to a low carbon economy.
According to Fidelity, the new funds aim to provide several benefits to investors, including exposure to opportunities arising from the multi-decade global decarbonization drive, risk reduction arising from transition risks such as increased regulation, disruptive technologies and stranded assets, and the opportunity to play a role in driving positive change by engaging with companies to encourage them to reduce carbon emissions.
New funds in the climate suite include the Fidelity Climate Leadership Fund, an equity strategy designed to reduce the risks and benefit from opportunities created by the global transition to a low carbon economy by investing in companies that are believed to be climate leaders, climate solutions providers or climate reformers; Fidelity Climate Leadership Bond Fund, a global corporate bond strategy, primarily investment grade, which aims to reduce the risks and benefit from opportunities created by the global transition to a low carbon economy, and to achieve a significant reduction in current and future carbon emissions relative to its benchmark, and; Fidelity Climate Leadership Balanced Fund is a blend of 60% Fidelity Climate Leadership Fund and 40% Fidelity Climate Leadership Bond Fund.
Fidelity Climate Leadership Fund is managed by portfolio manager Hugo Lavallée, and Fidelity Climate Leadership Bond Fund is managed by portfolio managers Kris Atkinson and Sajiv Vaid.
Kelly Creelman, Senior Vice President, Products at Fidelity Canada, said:
“As climate related issues reshape the global financial landscape by creating both long-term risks and opportunities, financial advisors and investors are increasingly asking for actively-managed investment vehicles that aim to capitalize on this secular trend.
“A focus on the global transition to a low carbon economy has the potential to offer attractive returns, and we are pleased to expand choice in our product line up by offering Fidelity Climate Leadership Funds.”
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