SPAIN - Spanish asset manager Alpha Plus has launched a retiree saving plan that will adopt a strong ESG strategy and invest in equities and fixed income.
Alpha Plus implemented the environmental, social and corporate governance (ESG) investment strategy for the first time on the new Alpha Plus Horizonte fund.
The asset manager has agreed to transfer as much as half of its management fees to the University of Navarra's foundation for applied medical research.
Proceeds from the fees will help the foundation to finance the search for vaccines for tropical diseases such as cholera, malaria and dengue fever in the world's poorest countries.
Javier Amo Fernández del Ávila, chief executive, said: "The fund will be managed according to ethical criteria such as the respect of human rights and the environment."
The Horizonte fund will invest as much as 50% in global equities, 50% in fixed income.
Fernández del Ávila said: "When you launch a pension fund, you need to know who will be looking at it.
"Most of our new investors are aged between 40 and 50 years old. As a result, we need to adapt our investment strategy accordingly and to invest in low-risk assets."
"We will then focus on stable and well-regulated markets such as Europe and the US, where we will target mid-cap businesses of around €3.5bn."
Earlier this year, Alpha Plus was mandated by ING Nationale de Nederlanden to manage the Nationale Nederlanden Crecimiento Global that has assets under management of around €20m.
Alpha Plus has also been appointed as investment adviser by a Spanish local bank, Banco Etcheverría, for the SER Alpha Plus Forecast fund, which invest in both global fixed income and equities.