WHEB Asset Management (WHEB) is to launch a new Irish-domiciled UCITS fund, which will enable European clients to continue to access the UK firm’s sustainable and impact investing strategy following the UK’s departure from the European Union. WHEB Asset Management Funds ICAV is structured as an Irish Collective Asset-management Vehicle.
The new fund will have a sub-fund, called the WHEB Sustainable Impact Fund, which is expected to launch during Q4 2020 and will mirror its existing impact investment fund that is domiciled in the UK, called the FP WHEB Sustainability Fund.
The asset manager has appointed FundRock Management Company, a pan-European independent third party management company, to act as the new fund’s management company. FundRock will provide oversight of the delegated functions, risk and compliance monitoring, as well as distribution support services for the new structure and its sub-fund. FundRock already acts as the authorised corporate director (ACD) for WHEB’s UK-domiciled fund through its UK entity, FundRock Partners Ltd.
WHEB, which was founded in 2009, aims to generate superior returns from global equities by investing in companies providing solutions to some of the most serious environmental and social challenges facing humanity over the coming decades.
The investment style of the suite of funds is sustainable growth at a reasonable price (GARP). The overall strategy has an AUM of GBP673 million as of 30 September 2020.
George Latham, Managing Partner of WHEB Asset Management, says: “We’re delighted to have partnered with FundRock to continue to build our business in the European markets and make our investment strategy available to new investors. We firmly believe that businesses which have a positive impact can and must be those that will be successful in the longer term. By demonstrating that sustainability and positive impact can be the basis of an outperforming investment strategy, we believe WHEB can have a powerful role in mobilising more capital towards a positive purpose.”
Xavier Parain, CEO of FundRock, says: “We are pleased to be WHEB’s partner of choice in another fund launch. Sustainable and impact investing is very much entering the mainstream for investors and pioneers like WHEB are well positioned to benefit from the rapid growth in this space. Our best in class solutions will enable the firm to focus on its core business activity of delivering returns to its clients while having a positive impact on society.”
