Fidelity launches water and waste fund

Fidelity launches water and waste fund

Fidelity has expanded its product range in the sustainable investment market with the launch of the Fidelity Sustainable Water and Waste fund.

The fund, which launched on November 7, is managed by Bertrand Lecourt, who joins Fidelity from Polar Capital. He has worked on water and waste related investments for 18 years.

The fund will invest globally in companies involved in the design, manufacture, or sale of products and services in connection with the water and waste management sectors.

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It is offered at an ongoing charge of 1.1 per cent.

Mr Lecourt said: "The story of water and waste is as old as the story of civilisation, yet companies in this sector remain relatively unexplored by investors.

"Investment opportunities in these sectors are driven by ever increasing demand for clean water and sanitation needs, as well as a better ability to manage the waste created by populations growing larger, wealthier and increasingly urbanised."

He said the fund was a diversifier for global equity investors.

Patrick Connolly, head of communications at Chase De Vere, said: "There is a growing demand amongst investors for ESG funds and products.

"Sustainable water and waste are important long-term themes for societies and may become an ever-increasing challenge due to demographic changes.

"However, while the sentiment of investing in these areas is a positive one, there are greater risks investing in specialist sectors such as this and the fund also comes with quite high charges."