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Seeks to replicate the MSCI World Climate Change Net Index

Bankia expands its range of index funds with ‘Bankia World Climate Index’ and reinforces its socially responsible positioning

‘Bankia Index Clima Mundial’ complements the Bankia Index index fund range, which covers a wide range of financial assets and geographical areas for investors who are committed to passive investment.
 

Communication Bankia

By  Communication Bankia

Publish on 
28 September 2020 - 17:15

  • It will mainly invest its portfolio in order to replicate the behaviour of the MSCI World Climate Change Net Index. This is how it will place its assets in index companies, derivatives on that index - futures, total return swap - or its components and ETFs (exchange-traded funds)
  • The reference indicator is part of the MSCI World index, its main index, and includes large and medium-sized enterprises that are sustainable from the point of view of climate change in 23 developed market countries
  • The product complements the range of Bankia Index index-linked funds, which covers a wide range of financial assets and global geographical areas for investors who opt for passive investment
  • In addition, with the launch of this fund, Bankia reinforces its commitment to products with a social, environmental and corporate governance focus, including the ‘Bankia Sustainable Future’ and ‘Bankia Sustainable Future Mixed’ funds

Bankia launches its first index fund that invests in companies which contribute to the decarbonisation process of the global economy. This is the ‘Bankia World Climate Index’, which seeks to replicate the behaviour of the MSCI World Climate Change Net Index, with a maximum annual deviation of 5%.

This indicator is part of the MSCI World index, its main index, and includes large and medium-sized enterprises that are sustainable from the point of view of climate change in 23 developed market countries. It aims to represent the evolution of a set of values according to the opportunities and risks associated with the transition towards a decarbonised economy.

The new fund will mainly invest its portfolio in order to replicate the behaviour of the MSCI World Climate Change Net Index. Thus, it will place its assets in index companies, derivatives on that index - futures, total return swap - or its components and ETFs (exchange-traded funds).

Therefore, it will be subject to changes in the equity market. Thus, “the product is aimed at customers who, assuming the volatility inherent to equities and having a long-term investment horizon, value both the importance of taking advantage of possible financial profitability and investing under socially responsible criteria (SRI)”, says Pablo Hernández, commercial director of Bankia AM.

Equity share classes

The fund has two classes of shares: portfolio and universal. The latter, aimed at the retail customers as of an investment of 100 euros, has a management fee of 0.90%. The first, aimed at customers with portfolios managed at Bankia, applies a management fee of 0.36%.

‘Bankia World Climate Index’ complements the range of Bankia Index index-linked funds, which covers a wide range of financial assets and global geographical areas for investors who prefer passive investment: Bankia Index RF Short, Bankia Index RF Long, Bankia Index USA, Bankia Index USA Hedged, Bankia Index Emerging, Bankia Index Spain, Bankia Index Eurozone and Bankia Index Japan.

Commitment to products with a social and environmental focus

In addition, with the launch of this fund, Bankia reinforces its commitment to products with a social, environmental and corporate governance approach. These include the Bankia Sustainable Future and Bankia Sustainable Future Mixed funds, both of which are socially responsible products (SRIs), which take into account in their investment analysis and selection processes, in addition to merely financial data, a series of criteria related to environmental, social and corporate governance factors, investing in companies and sectors that have a positive impact on achieving the Sustainable Development Goals (SDGs).

The launch of the Bankia World Climate Index is in line with the bank’s Responsible Management Plan, its Strategic Plan, the UN Sustainable Development Goals (SDGs) and Bankia AM’s transformation strategy towards a becoming a sustainable manager.

During 2019, Bankia joined the United Nations Environment Program. By adhering to the six Principles for Responsible Banking, financial institutions publicly assume the duty of aligning their activities with the SDGs and the Paris agreement, undertaking to expand their positive impacts, reducing the negative ones, and working responsibly with their customers to foster sustainable practices, as well as involving stakeholders to achieve the objectives.

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