BNPIP Launches New European Equity Fund Pairing High Dividend Yield with SRI Standards

Jun 15 2016 | 10:50pm ET

BNP Paribas Investment Partners (BNPIP) has launched a new European equity fund that will concentrate on stocks that pay high dividend yields and which also meet stringent sustainability standards.  

The new vehicle, named the Parvest Sustainable Equity High Dividend Europe fund, will select European stocks based on a “responsible dividend” approach that pairs high, healthy payouts with compliance with certain environmental, social and governance (ESG) criteria.

For instance, portfolio positions must comply with the UN’s PRI and Global Compact standards for controversial activities, such as weapons, palm oil and nuclear power. Meanwhile, on the dividend side, the fund will avoid firms that are pay their dividends using debt or cash reserves and thus undermine their sustainability. 

The new fund will be a sub-fund of BNPIP’s Parvest SICAV, a UCITS IV-compliant structure domiciled in Luxembourg. It will be managed by BNPIP’s head of sustainable thematic equities, Gaëtan Obert, and is registered for sale in Austria, Belgium, Bahrain, Switzerland, Chile, Czech Republic, Germany, Denmark, Spain, Finland, France, United Kingdom, Greece, Hong Kong, Hungary, Italy, Jersey, Luxembourg, Macao, Netherlands, Norway, Peru, Portugal, Singapore, Slovakia, Sweden and Taiwan.

BNP Paribas Investment Partners is the BNP Paribas Group’s asset management specialist. It has assets under management of €521 billion as of the end of March.

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