Candriam Investors Group has joined the race in the ESG high yield club with the launch a new bond fund.

The Candriam SRI Bond Global High Yield fund is designed to offer investors access to an ‘attractive’ asset class while limiting exposure to issuers with unsustainable growth models and low regard for the environment and social values.

The launch comes hot-on-the-heels of M&G’s new ESG high yield offering, which will be managed by James Tomlins and Stefan Isaacs.

SRI investments currently account for around 25% of Candriam’s total assets under management. It added that the new fund will incorporate the firm’s high yield expertise with its SRI best-in-class analysis.

Commenting on the launch, the firm’s global head of responsible investments and research, Wim Van Hyfte said: ‘We believe that a comprehensive appraisal of the ESG opportunities and risks of issuers is essential to make fully-informed investment decisions in the fixed income space, including high yield corporate credit.

The fund is registered for sale in Luxembourg, Germany, France, Spain, Italy, Switzerland, the Netherland and the UK.