Schroders Korea raises W100b for global sustainable growth fund

Schroders Korea said Monday it had pooled over 100 billion won ($88 million) from South Korean end-investors earlier this month through its fund product that is designed to hold a portfolio of its flagship global sustainable equity fund.

This is the first to reach the milestone among Korean funds dedicated to foreign equities while taking environmental, social and governance factors into account, according to Schroders Korea.

Schroders Korea has raised Koreans’ capital for the scheme since July last year, through a sales network comprising 10 financial institutions including KB Kookmin Bank and Mirae Asset Daewoo.

The pooled investments have exposure to the Luxembourg-domiciled Schroder International Selection Fund Global Sustainable Growth C Accumulation USD.

Created in 2010, the fund aims to pursue capital growth by investing in worldwide equities that meet Schroders’ sustainability criteria. As of January 2021, the fund returned 29.2 percent for the past 12 months, outperforming the benchmark MSCI ACWI NR that gained 17 percent.

The fund‘s top holdings include Microsoft, Google parent company Alphabet, Texas Instruments, Taiwan Semiconductor Manufacturing Co., Tencent Holdings, Roche Holding, Booking Holdings and Assa Abloy.

By Son Ji-hyoung (consnow@heraldcorp.com)