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.