Cazenove Capital selected by mission-led investors to manage sustainable investment mandate

Cazenove Capital has been awarded a £33.5 million investment mandate from three charities after an ‘ESG investing olympics’ competition.

The charities - Friends Provident Foundation, the Joffe Charitable Trust, and the Blagrave Trust - will become cornerstone investors in a new best-in-class multi-asset sustainability fund – the Cazenove Sustainable Growth Fund.

Held earlier this year, the olympics competition was a first of its kind open tender. Its key instruction for would-be investment managers was to impress the charitable foundations with their social and environmental integration, as well as their impact investing solutions.

In total, 60 proposals were received from a wide range of managers, with five invited to present to an auditorium of mission-led investors, including charities and religious organisations, at the Royal Institution in London in March 2020. The five ranged from boutique impact managers to large investment houses.

The proposals were assessed for intentional social and environmental impact and high standards of ESG integration, encompassing exclusion, engagement and its escalation, voting record, in-house expertise, and impact reporting.

The Cazenove Sustainable Growth Fund is an innovative multi-asset fund that will launch later this year.  Investors will be able to maximise the positive impact of their wealth on people and the planet whilst targeting attractive financial returns. The fund will invest across a broad range of assets such as sustainable business, development, renewable energy and social housing, combining intention with action to generate real and measurable positive impact.

Kate Rogers, Co-Head of Charities, Cazenove Capital, commented:

“We are thrilled to be selected by these leading purpose-led investors. Together we are committed to investing for a better future. The ‘ESG investing olympics’ set an amazing example of collaboration and transparency, breaking new ground in sustainable investing.  We look forward to continuing in this spirit, working with the charities to use their investments for good and developing best practice in impact investing.

“Our innovative multi-asset fund, launching in December, has a clear intention to generate both a competitive financial return and a positive impact on people and the planet.  Available to charities and individual investors, the Cazenove Sustainable Growth Fund will have a carbon footprint of less than half of the global equity index and will generate five times the social impact.”

Colin Baines, Investment Engagement Manager at Friends Provident Foundation, said:

“We are delighted to announce Cazenove Capital as the winner of the ‘ESG investing olympics’ and look forward to becoming the cornerstone investors in a new best in class multi-asset class ESG fund. Our trustees were torn between choosing an ‘evolving incumbent’ or a ‘new disruptor’ and decided on the former. We were impressed with Cazenove Capital’s proposal, which meets our new, challenging, investment policies, was well received by attendees in March, and offers the potential to achieve scale and influence the wider market.”

 “In the spirit of the ESG olympics, which set out to bring investment management out of the shadows and send a clear market signal for higher ESG standards, we will work with Cazenove Capital to continually raise market standards and best practice, and will regularly report on our experience.”

For further information, please contact:

Estelle Bibby, Head of Media Relations +44 20 7658 3431 estelle.bibby@schroders.com
Kat Kalinina, PR Manager +44 20 7658 2647 katerina.kalinina@schroders.com

Note to Editors

 

About Wealth Management

As a long-established wealth manager with an absolute focus on preserving and growing our clients’ wealth, what matters most to our clients, matters most to us.

Private individuals, family offices, trusts, institutions and charities all rely on us to provide them with bespoke wealth management services. Skilled in investment management, wealth planning and banking services – we also offer discretionary fund management to external advisers and their clients, and we are the largest charity fund manager by assets under management in the UK.

For two centuries we have helped clients look forward to a successful future. With each client, we plan for the long term and invest the time to gain a detailed understanding of their unique circumstances, goals and ambitions. The majority of our clients, and many of our own people, work with us for years, decades and even generations. This creates relationships of unusual depth.

Our experience of navigating complex markets and adapting to change helps us balance risk and reward. The investment expertise we call upon as part of Schroders, a truly global asset manager, combined with our long-standing experience of advising clients, is what sets us apart.

Wealth Management office locations

Cazenove Capital: UK and Channel Islands. Schroders Wealth Management:  Singapore, Hong Kong and Switzerland.

£65.7 billion assets under management globally across all Wealth Management offices (including Benchmark Capital) as at 30 June 2020.

Further information about Cazenove Capital can be found at www.cazenovecapital.com.

Issued by Cazenove Capital which is part of the Schroders Group and is a trading name of Schroder & Co. Limited. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

When investing, your capital is at risk.

The opinions contained herein are those of the author and do not necessarily represent the house view. This document is intended to be for information purposes only. The material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The material is not intended to provide, and should not be relied on for, accounting, legal or tax advice, or investment recommendations. Information herein is believed to be reliable but Cazenove Capital does not warrant its completeness or accuracy. No responsibility can be accepted for errors of fact or opinion. This does not exclude or restrict any duty or liability that Cazenove Capital has to its customers under the Financial Services and Markets Act 2000 (as amended from time to time) or any other regulatory system. Cazenove Capital is part of the Schroder Group and a trading name of Schroder & Co. Registered Office at 1 London Wall Place, London EC2Y 5AU. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. For your security, communications may be taped and monitored. 

Contact Cazenove Charities

Achieving your charity's investment objectives takes time and thought. To find out how we can help you please contact:

James Brennan

James Brennan

Portfolio Director james.brennan@cazenovecapital.com