Zurich, 30 June 2021 – UBS, the world’s leading wealth manager and sustainable investment manager, today announced an exclusive partnership with Record plc, the specialist currency and derivatives manager, for its newly-launched Record Emerging Market Sustainable Finance Fund.
This bespoke investment offering for UBS’s private wealth clients shows the firm’s commitment to developing innovative products and solutions to meet clients’ growing interest in sustainable investing.
The new unique investment strategy aims to increase the flow of development finance to emerging markets and to enhance financing projects in illiquid markets. The strategy targets positive sustainability outcomes using trading in liquid EM currencies designed to help stabilise EM exchange rates and to absorb currency risk. Further, active engagement with counterparty banks encourages improvements in areas of ESG, and investing in an underlay of green, social and sustainability bonds and bonds issued by multilateral development banks seeks to have a positive environmental, social and economic impact.
Record's strategy contributes to sustainable finance by helping stabilize specific emerging market currencies in periods of illiquidity or elevated volatility. The fund aims for an attractive, reliable return, with the additional benefit of daily liquidity.
Mark Haefele, Chief Investment Officer, Global Wealth Management at UBS commented:
“Shaping a sustainable path for our clients at UBS Global Wealth Management is paramount. This strategic partnership with Record is another important step in our journey to create long-term effective ESG opportunities for our clients, while supporting sustainable development projects.”
Leslie Hill, CEO of Record plc commented:
“Today’s milestone is a pioneering achievement for UBS Global Wealth Management, Record and the industry, but also one which reflects Record’s strengths both in building on its long-term and trusted client relationships to collaborate in developing new and innovative investment products, but also in our team’s perseverance to make this sustainability fund a reality. The target universe for Record’s Emerging Market Sustainable Finance Fund is large; with UBS Global Wealth Management, in partnership responding to the anticipated demand for a sustainable currency strategy, we aim to grow and develop this fund further over the coming years. This fund launch is the latest development in our strategic transition towards modernisation and growth, whilst also developing our ESG and sustainable investment capabilities, a very important area for Record.”
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