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Vanguard to roll out its first actively managed ESG fund

Friday, March 08, 2019

Laxman Pai, Opalesque Asia:

Vanguard Group, which manages $5.2tn in global assets, has created its first actively managed environmental, social and governance (ESG) fund, which will be added to its current ESG offerings.

The Vanguard Global ESG Select Stock Fund will be managed by Wellington Management, which manages more than $1tn in assets, and is expected to be available for investment by midyear.

The fund's benchmark is the FTSE All-World Index, and to outperform it, Vanguard said that "Wellington Management will identify and select approximately 40 companies that they believe demonstrate exemplary long-standing ESG practices and have strong business fundamentals and management teams with proven track records of good capital allocation decisions for shareholders."

"Vanguard's new Global ESG Select Stock Fund is taking a distinctive approach to ESG investing, seeking long-term outperformance through the selection of companies that integrate leading ESG practices into their corporate strategies," said Matthew Brancato, head of Vanguard's portfolio review group.

The fund is expected to be a long-term holder of those issues, resulting in low portfolio turnover, Vanguard said in a release.

Wellington also will be responsible for governance activities for the fund, enabling fund managers to integrate proxy voting and company engagements into the fund's investment strategy, Vanguard said.

With expense ratios of 0.45% and 0.55% for Admiral and I......................

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