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Fidelity brings water and waste fund to Singapore

Several asset managers have brought ESG or sustainable funds to the Lion City.

Fidelity is expected to launch an ESG-themed fund in Singapore, according to records from the Monetary Authority of Singapore (MAS).

This month, the firm filed an application with the regulator for its Sustainable Water and Waste Fund to be sold to retail investors in the Lion City, the records show. It is still awaiting approval from the MAS.

FSA sought more information from the firm, but a Hong Kong-based spokeswoman declined to provide more details, including whether the fund will be launched in Hong Kong.

The fund, which is Luxembourg-domiciled, was first launched in Europe in 2018, according to data from FE Fundinfo.

The product adopts a sustainable thematic strategy that invests in global equities involved in the design, manufacture, or sale of products and services used for or in connection with water and waste management sectors, according to the fund’s prospectus.

“Sustainable characteristics include effective governance and superior management of ESG,” it added.

Other fund managers have also launched ESG funds in Singapore. For example, Goldman Sachs Asset Management filed an application with the MAS for its Emerging Markets Equity Portfolio to be sold to retail investors in the Lion City, in December last year. Blackrock also prepared four ESG products in Singapore in 2018, the ESG Emerging Markets Blended Bond Fund, the ESG EM Bond Fund, the ESG EM Corporate Bond Fund and the ESG EM Local Currency Bond Fund.

Elsewhere, Mirae Asset recently launched an ESG-themed ETF in Hong Kong, which is the China Clean Energy ETF.

Fidelity Sustainable Water & Waste Fund vs average performance, since inception

Source: FE Fundinfo. In US dollars. Note: the fund does not have a benchmark.


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