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Fidelity to run ESG bond for Italian banking group

Fidelity to run ESG bond for Italian banking group

Cassa Centrale Banca, Italy’s federation of local banks, has appointed Fidelity International to manage a new total return ethical bond fund.

The NEF Ethical Total Return Bond fund is aimed at clients who want to invest in bonds in a sustainable and socially responsible way.

The fund will be managed by Fidelity’s Claudio Ferrarese, who has over 13 years’ investment experience.

Targeted at clients with a medium or long-term investment horizon, the fund aims to achieve a positive return and capital appreciation during an entire market cycle, coupled with low volatility and decorrelation from the equity market.

The fund has a flexible approach and is not constrained to the index.

Fidelity’s head of European institutional, Steve Edgley, said: 'This appointment is a reflection of our continued commitment at Fidelity to listen to our customers and to help them achieve their investment objectives, utilising our extensive investment expertise and resources.'

Fidelity currently manages $80 billion in fixed income globally and manages ESG fixed income across EMD, high yield (European and Asian), European corporate bonds and low carbon corporate bonds.

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