- Funds will target climate change leaders of today and the future, along with companies pursuing net zero strategies
- Robeco holds an A+ PRI score and was one of the founding signatories to Net Zero
- Phoenix is the UK’s largest long-term savings and retirement business
Phoenix Group, the UK’s largest long-term savings and retirement business, has assigned £338 million of with-profits investment funds to a new multi asset climate solution which will be managed by Robeco.
The new solution forms part of Phoenix Life and Standard Life’s wider with-profits strategic asset allocation. This will add another diversified source of return that aims to meet the long-term investment objectives for with-profits customers through a balanced portfolio of equity and credit, that invests in the climate change leaders of today and the future, and companies pursuing a net-zero decarbonisation strategy.
Strategic Asset Allocation
- Net Zero 2050 Climate Equities – 20%
- Climate Global Bonds (credit) – 20%
- Smart Energy Equities – 15%
- Sustainable Property Equities – 10%
- Global Green Bonds 10%
- SDG High Yield Bonds – 10%
- Smart Materials Equities – 10%
- Smart Mobility Equities – 5%
See related article: Robeco opens up its Sustainable Investing IP with launch of new SI initiative
After a competitive search process, international investment manager Robeco was selected to manage this multi asset climate solution. Robeco is known as a leader in sustainable investing, launching its first sustainable equity fund in 1995 and integrating environmental, social and governance criteria across all of its investment processes since 2010. Robeco also holds an A+ PRI score, was one of the founding signatories to Net Zero, and has been awarded the “Leader” ranking in ESG commitment level by Morningstar.
James Mitchell, Head of Strategic Partnerships and Research, Phoenix Group, said:
“We are delighted to be working with Robeco on this new multi asset climate solution as part of our ongoing commitment to help tackle the climate challenge. At Phoenix, we are continuing to find ways to create a sustainable future for all, including renewed investment into social housing, infrastructure and cutting-edge green technologies. Our partnership with Robeco drives forward this commitment across different asset classes as we aim to be net zero throughout our investment portfolio by 2050.”
Ed Collinge, Global Head of Client Solutions, Robeco added:
“It is exciting to be partnering with a like-minded investor such as Phoenix Group, who is looking to achieve strong investment returns for their policyholders whilst also embracing and integrating climate goals to enable a more sustainable future for all. Sustainable objectives are becoming a cornerstone of many investors’ portfolios and we were delighted to jointly create an innovative solution that seeks to both benefit from and enable the climate transition.”
