Responsible investing is gaining momentum worldwide. Research Bank of America and observations of participants of the market say that most companies that meet the ESG requirements, to better survive the crisis. In such circumstances, the strategy for responsible investment have become available not only wealthy, but also retail investors. But the Russian management companies offer retail mutual funds focused on such investments.Three components castep Monday on the Moscow exchange will start trading shares of exchange-traded Fund (BPIF) under the control of the company “Rosselkhozbank asset Management”, conforming to the principles for responsible investment. As the basis of its “Index Masuri—RSPP Vector of sustainable development, full yield”. Responsible investing is an approach in which investment objects are selected with the factors of influence on the environment, social responsibility and corporate governance (Environmental, Social and Governance, ESG). The principles of the ESG began to take shape in the West in the middle of last century but only in recent years have become really popular. According to Bank of America, companies with higher ESG feel much better in times of crisis. In the words of the General Director “the alpha-the Capital” Irina Krivosheeva, ESG funds broad market demonstrate the results are often better than similar funds that follow indices, not considering ESG factors, as in companies whose securities are included in such funds, less the specific risks (accidents, fines, etc.). “If you look at ESG counterparts in the wider European and American indices, their performance was better. They are not so much failed and recover faster,”— said the head of Sberbank Private Banking Evgeniya Tyurikova. In particular, since the beginning of the year to the June 25, MSCI World ESG Leaders Index decreased by 12.4 %, while its counterpart, the MSCI World Index lost 13.9 per cent.Responsibility for sostoyatelnymi the market for responsible investment young. The first strategy for responsible investment offered to customers of Private Banking structure. According to “Kommersant”, such a strategy wealthy customers are Sberbank, ROSBANK, “URALSIB”. According to Evgenia Turikova, customers are offered three strategies: SPB Women Impact Europe index, Solactive SPB Foodtech Index, Solactive SPB Circular Economy. The second strategy allows to invest in companies focused on innovations in the field of food and nutrition. In the third of the funds are invested in shares of global companies whose business models and strategies focused on the use of renewable resources and alternative energy sources, recycling of secondary raw materials.Responsible investments are increasingly offering and managing to��ucts, often in the context of individual trust management. “Our strategy provides broad exposure to the stock market: part of the portfolio is based on the ESG issue of the broad market (Microsoft, Procter & Gamble, Visa, etc. with high ESG ratings), the portion of the portfolio focuses on more specific areas (clean energy, clean technologies, etc.)”,— said Irina Krivosheeva.Care rasnitsov first retail mutual Fund responsible investment in may this year launched UK “VTB Capital asset Management”. They are focused on investments in securities (stocks, bonds) of Russian companies that meet the ESG criteria. “The structure of the portfolio is focused on the Moscow exchange indices, where the weights of the companies are additionally adjusted in the direction of raise, lower, or eliminate, depending on the ratings of ESG factors. The weight of a particular stock in the portfolio is determined and the dynamics of ESG factors and companies ‘actions aimed at improving standards in this area”,— says CEO of “VTB Capital Investments” Vladimir Potapov. For example, the Fund shares in mid-June, more than 10% of held securities of the savings Bank, LUKOIL and “Yandex”.In the base of calculation of the index, which will follow BPIF Rosselkhozbank, comprised of the mining and metallurgical company (MMC Norilsk Nickel, ALROSA), energy (“inter RAO”, “rosseti”), oil and gas companies (Rosneft, Gazprom, LUKOIL), communication companies (MTS, “Rostelecom”), and several others. “A retrospective analysis of the companies included in the index, showed that he has a good premium to the broad market”,— says CEO of “Rosselkhozbank asset Management” Roman Serov. According to him, the company considered the possibility of launching bond Bpif that meets the requirements of ESG.Limitation OTVETSTVENNOSTYU, not all large companies have declared readiness to launch retail funds responsible investing. According to the head of the stock and derivatives of UK “Opening” Vitaly Isakov, for responsible investing has its drawbacks, in particular a restricted list of securities for purchase, which may affect yield. “Shares that have the opposite characteristics, the so-called sin stocks (“shares of sin”; the shares of companies that produce alcohol, tobacco, firearms.— “B”), has historically outpaced the market, including because of the reluctance of the whole layer of investors to buy them gives the opportunity for others to do so at lower prices”,— says Mr. Isakov.According to some market participants, to gather a complete diversified product only from the local instruments is not easy. According to Evgenia Surikovoy in the world the main problem is the absence��effects of standardization of ESG criteria. “You can often find a situation when scoring by one and the same company from different agencies differ greatly. The same situation applies to Russia”,— said Ms. Tyurikova.Vitaly Gaydayev
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