AMINVESTMENT Bank Group has launched the RM300 million AmGlobal Climate Change Fund which will ultimately buy stocks globally, that will benefit from producing cleaner or more efficient energy.
The fund invests at least 95 per cent in Schroder International Selection Fund Global Climate Change Equity, which is managed by global asset management company Schroder Investment Management Ltd.Due to increasing awareness and pressure from the governments as well as the public on global climate changes, corporations in every industry are investing big to alleviate the long-term impact, AmInvestment Bank Bhd managing director T.C. Kok said.
"Corporations which mitigate and adapt early to the climate changes will gain and benefit over the long run. Investors, too, can gain from this opportunity by investing in this fund," he said during the fund launch in Kuala Lumpur yesterday.
The fund will buy shares in US' General Electric, which has a large number of businesses positively exposed to climate changes with US$900 million (US$1 = RM3.38) already invested in research and development for climate change projects.
It will also invest in shares of Koninklijke Phillips Electronics of Netherlands, which is a leader in making energy-efficient lightbulbs.
Other stocks include Japan's electronics firm Sharp and car companies Toyota Motor and Honda Motor. The bulk of the assets will be put into European and US companies, which generally lead in this area.
"What we have identified here is an emerging, long-term trend. The early bird investors will benefit," chief executive officer of AmInvestment's funds management division Datin Maznah Mahbob said.
She said Schroder in London has two climate change scientists, who also work in several European committees that help formulate policies on climate changes, advising the fund managers.
This is one main area that sets this fund apart from other investment funds in Malaysia which also focus on the climate change theme, she said.
The investment scope of this fund is also broader compared to existing funds with a similar theme in the market, she added.
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