Impact investor WHEB Asset Management LLP (WHEB) is set to launch a Dublin-based UCIT (Undertakings for the Collective Investment in Transferable Securities) fund designed to make sure investors can continue to contribute to their sustainable impact funds whatever the outcome of the ongoing Brexit talks with the European Union.
WHEB was launched in 2009 with a focus on “the opportunities created by the transition to a low carbon and sustainable global economy” and to “generate superior returns from global equities by investing in companies providing solutions to some of the most serious environmental and social challenges facing humanity over the coming decades”.
The new fund, named FP WHEB Sustainable Impact Fund, is expected to launch at the tail end of 2020 with UK-based FundRock Management Company S.A. appointed as its management body.
Both companies have collaborated before on previous projects; FundRock is already the authorised corporate director for WHEB’s UK-based fund via its UK branch, FundRock Partners Ltd.
FundRock, hailed by WHEB as “a leading pan-European independent third party management company”, will oversee the fund’s delegated functions, provide risk and compliance monitoring, as well as manage distribution support services for the new structure and its sub-fund.
It is designed to mirror the firm’s “existing impact investment fund that is domiciled in the UK, called the FP WHEB Sustainability Fund”.
WHEB currently boasts £673 million in assets, and its existing UK-based sustainability fund returned an impressive 27.2% in US dollar terms – the average comparable fund returned just 19.4% over the same timeframe. Its minimum regular savings value sits at £25.00.
Commenting on the launch of the new Sustainable Impact Fund, George Latham – managing partner of WHEB Asset Management – said:
“We’re delighted to have partnered with FundRock to continue to build our business in the European markets and make our investment strategy available to new investors. We firmly believe that businesses which have a positive impact can and must be those that will be successful in the longer term.
“By demonstrating that sustainability and positive impact can be the basis of an outperforming investment strategy, we believe WHEB can have a powerful role in mobilising more capital towards a positive purpose”.
Xavier Parain, CEO of FundRock, added:
“We are pleased to be WHEB’s partner of choice in another fund launch. Sustainable and impact investing is very much entering the mainstream for investors and pioneers like WHEB are well positioned to benefit from the rapid growth in this space.
“Our best in class solutions will enable the firm to focus on its core business activity of delivering returns to its clients while having a positive impact on society”.