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MAPFRE launches its latest ESG focused fund - Capital Responsable

Thursday, October 25, 2018
Opalesque Industry Update - MAPFRE AM, the fund management arm of one of Europe and LatAm's largest insurance companies is launching its latest ESG focused fund and the first in partnership with its specialist ESG boutique, Paris based La Financière Responsable (LFR).

MAPFRE has now given a further demonstration of its firm commitment to socially responsible investment with the launching of a full range of products that incorporate environmental, social and governance (ESG) criteria into the process of selecting investment portfolios.

Among the products presented by the insurer is a new mutual fund called Capital Responsable (Responsible Capital), which will be managed by MAPFRE AM, and will benefit from the consultancy services of La Financière Responsable, the French asset management company specializing in responsible investment in which MAPFRE recently acquired a 25% holding. This is the first collaboration between the two companies to arise from the new relationship.

Paris-based LFR, founded in 2007, has built a unique and acclaimed analytical process which it calls the Integral Value Approach (IVA). It uses this unique methodology alongside a tool called L'Empreinte Ecosociale, capable of analysing more than 120 ESG indicators for 160 Eurozone companies to take into account material ESG factors when selecting stocks for investment portfolios.

The fund is the first of its kind to be launched in Spain and will invest in the shares and fixed income securities of European companies selected on the basis of their ESG attributes, following a strategy that will focus on preservation of capital.The fund will be retailed mainly in Spain and France, and will be domiciled in Luxembourg, so as to be available to international investors.

The mutual fund is complemented by other products that focus on ESG investment: the pension fund MAPFRE Renta Largo F.P. will henceforth be renamed MAPFRE Capital Responsable, with a focus on ESG strategy.In the same way, there is also a mutual society of the type classified in Spain as an "EPSV" (or "social protection voluntary company") and previously known as "MAPFRE Crecimiento", which will henceforth be called MAPFRE Crecimiento Responsable

This "Capital Responsable" fund follows on from another mutual fund launched by MAPFRE a year ago, the Good Governance Fund, a mutual fund that combines the concepts of high-value investment and good corporate governance.It is also the first fund of this type to be managed and promoted in Spain

This all forms part of MAPFRE's commitment to a model for the creation of sustainable value.In the same way, the company has recently announced its adherence to the Principles of Responsible Investment (PRI), once again with the objective of aligning its investment policy with its commitment to socially responsible activity.

MAPFRE AM is the Group's fund management company in Spain. Its investment philosophy combines long-term value creation and protection of equity. Its main areas of expertise are focused on both European variable and fixed income and allocation of assets.

MAPFRE is a global insurance company with a worldwide presence. It is the leading insurer in the Spanish market and the foremost Spanish insurance company in the world, the main multinational insurer in Latin America and one of Europe's Top 5 insurers by premium volume for Non-Life business. MAPFRE has over 36,000 employees and in 2017 it had revenues of nearly 28 billion euros, and a net profit totaling 701 million euros.

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