MAPFRE launches ESG fund

Spanish insurer MAPFRE is launching a range of ESG products, a new mutual fund Capital Responsable (Responsible Capital), which follows on from the existing Good Governance Fund and this will be complemented by a pension scheme and a mutual society (EPSV).

Capital Responsable will be managed by MAPFRE AM, and will benefit from the consultancy services of La Financière Responsable, a French asset management company in which MAPFRE has a 25 per cent holding. This is the first collaboration between the two companies to arise from the new relationship.

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, and available to international investors.

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