UBS Global Wealth Management (GWM) and Rockefeller Asset Management announced the launch of the UBS Rockefeller Ocean Engagement Fund, a new blue economy-focused fund aimed at engaging with companies that address ocean health issues, to provide financial returns and positive impact.

According to the World Bank, the Blue Economy is defined as the “sustainable use of ocean resources for improved livelihoods and jobs, and ocean ecosystem health.” Blue economy-related activities encompass a wide variety of area, including renewable energy, fisheries, maritime transport, tourism, and waste management.

The new fund follows the launch by the UBS Chief Investment Office of a new long-term blue economy investment theme, focused on investments aimed at building an economic system based on a sustainable relationship with the ocean. UBS stated that it has identified investible markets worth more than $1.1 trillion in areas including wastewater treatment, waste management and plastic recycling, and sustainable aquaculture, and cited OECD estimates for the blue economy to reach $3 trillion in value by 2030, more than doubling from 2010.

Andrew Lee, Head Sustainable & Impact Investing at UBS Global Wealth Management, said:

“We continue to be strong supporters of shareholder engagement, and think it has the potential to both – deliver positive change and improve profitability of companies. The new strategy allows us to have deeper impact on one of the key resources of our planet, and bring a stronger investment focus on the ocean, which remains relatively underfunded by investors.”

The new fund will encompass a portfolio of approximately 50 high conviction stocks, with a small and mid-cap focus and value tilt, and an objective to seek long-term real returns by pursuing a thematic strategy, while creating positive change for ocean health via a consistent investment and shareholder engagement process.

Rockefeller will act as portfolio manager for the fund, and will also undertake the active investor engagement, while collaborating with its science and policy advisor, The Ocean Foundation, a non-profit dedicated to conserving ocean environments around the globe, which will offer expertise in identifying trends related to the ocean-climate nexus.

Casey Clark, President and Chief Investment Officer at Rockefeller Asset Management, said:

“Leveraging Rockefeller’s 30-plus years of investment experience and distinctive network to bridge the gap between science and investing, we believe the UBS Rockefeller Ocean Engagement Fund is a compelling opportunity for investors seeking uncorrelated returns and ocean health impact via shareholder engagement.”

Bruno Marxer, Head of Global Investment Management at UBS Global Wealth Management, added:

“We are pleased that through our close collaboration with Rockefeller Asset Management we can offer our clients access to this major structural growth theme, using our innovative engagement framework. Not only does it enable portfolio diversification in times of market uncertainty, but it offers exposure to multiyear growth prospects as the world seeks to transition toward more nature-aligned and equitable economic systems.”