CPR Asset Management, a subsidiary of French asset manager Amundi, has launched a global equity fund aimed at the sustainable urbanization of cities.
The fund, known as CPR Invest – Future Cities, is an actively managed, non-benchmarked global equity fund that will invest across the urbanization ecosystem.
Managed by Arnaud du Plessis and Alexandre Blein, the fund will exclude companies that score poorly on ESG criteria. The fund also will identify companies that demonstrate a positive impact on the urban ecosystem through initiatives such as energy savings, improving access to water and waste treatment management.
“Managing today’s cities and supporting larger, smarter and greener cities of tomorrow are pressing challenges that policymakers and private investors need to address as a priority,” said Vafa Ahmadi, head of global thematic equities in a statement. “We are delighted to offer savers a solution that gives them access to the growth of companies that support this transition in a sustainable way.”
According to CPR AM, the fund’s urbanization theme is built on a five-pillar approach, comprising construction, mobility, connectivity, resources and services.
“Urbanization is an accelerating trend, particularly in emerging countries,” CPR AM said in a statement. “This trend comes with challenges, such as managing a surging population influx; meeting that growing population’s needs and improving its quality of life; and, lastly, mitigating cities’ environmental impact.Cities are able to reinvent themselves because they are economically powerful, and because they are becoming increasingly ‘smart.’”
CPR AM added that this opens up a range of investment opportunities linked to infrastructure renovation and construction, in addition to new technologies designed to manage cities more efficiently and sustainably.
The fund follows the launch of CPR Invest – Climate Action, an international equity fund that selects the companies most committed to energy and environmental transition, regardless of sector, earlier this year.
