Samsung Asset's 'Energy Fund' Gains Momentum... 100 Billion KRW Increase in Subscription Amount
[Asia Economy Reporter Junho Hwang] Samsung Asset Management announced on the 15th that the assets under management of its ESG (Environmental, Social, and Governance) related funds, Samsung Global Clean Energy Fund and Samsung Energy Transition Fund, which focus on eco-friendly and renewable energy, increased by 101.5 billion KRW this year (as of the 10th).
ESG investment has become mainstream in the global market over the past few years. According to statistics from the Global Sustainable Investment Alliance (GSIA), the global ESG investment scale reached 40.5 trillion USD last year, about three times the 13.2 trillion USD recorded in 2012. This year marks the full start of the new climate regime under the Paris Agreement, and it is expected that not only companies but also many investors will show increased interest in ESG investments.
The Samsung Global Clean Energy Fund is a fund of funds investing in Pictet Clean Energy Fund managed by Swiss firm Pictet. Established in 2007, this fund recorded returns of 21.2% and 47.6% over the past three months and one year, respectively, attracting 72.1 billion KRW in funds this year alone.
The Samsung Energy Transition Fund, launched in January this year, has already attracted 29.4 billion KRW. This fund is a fund of funds that includes BNP Paribas Asset Management’s Energy Transition Fund. It diversifies investments across approximately 80 companies related to renewable energy, energy technology and efficiency, and energy infrastructure. Since its inception on the 28th of last month, it has recorded a high return of 5.1%.
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Kim Yong-kwang, Head of Product Marketing at Samsung Asset Management, said, "ESG, including eco-friendly energy and green industries, is already a global mega trend, and many ESG-related products are being launched recently," adding, "Please be cautious in your investments and carefully check whether the companies or products are truly ESG or just greenwashing."
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