Deutsche Asset Management has bolstered its ESG offering with the launch of a specialist equity income fund, Citywire Selector has learned.
The Deutsche Invest ESG Equity Income fund was officially launched on August 7 and will be managed by Martin Berberich.
The fund will aim to invest in large cap stocks with an ESG approach, combining best-in-class exclusion, carbon rating, and compliance. The fund is registered for sale in Germany, Luxembourg, and the Netherlands.
Berberich also manages the €55.44 million DB Global Equity Income fund, which focuses on equities of domestic and foreign issuers.
The existing fund has a clear focus on consumer staples, with 24% of the strategy being invested in the space. However, the top 10 allocations feature Taiwan Semiconductor Manufacturing (4%) and financials group Allianz SE (3.9%).
Berberich has managed the fund for two years and has returned 6.11% in US dollar terms over that time. This compares with its Citywire-assigned benchmark, the FTSE World TR USD, which returned 17.81% over the two years since the end of July 2015.