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UBS, LGPS Fund Launch UK Transition Fund

Essex Pension Fund, a UK Local Government Pension Scheme with £6 billion AUM, has partnered with UBS Asset Management and consultancy firm Hymans Robertson to launch the UBS Life Global Equity Sustainable Transition fund. The fund will be available to the wider UK institutional pensions market and will invest in companies that are well-positioned for the transition to a low-carbon economy. The fund aims to deliver returns broadly in line with the global developed equity markets with better exposure (compared to the FTSE Developed Index benchmark) to metrics measuring the expected contribution of companies to climate change, overall ESG scores, and alignment with five UN Sustainable Development Goals (SDGs). These are good health, affordable clean energy, decent work and economic growth, responsible production and consumption, and climate action. Simon Jones, Head of Responsible Investment at Hymans Robertson, said: “Being responsible stewards of the monies in their care is a key consideration for all our clients. In an area that is particularly fast-moving, it is vital that investors regularly review their approach to integrating responsible investment considerations and we look forward to continuing to work with both Essex Pension Fund and UBS Asset Management in future.” 

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