Foxberry expands Sustainability Consensus index offering in the US
London-based index provider Foxberry Ltd (Foxberry) has expanded its Sustainability Consensus index offering into the US markets, developing the range further following the launch of the European offering in September.
Foxberry has launched the new Foxberry Sustainability Consensus US Total Return Index (the Sustainability Consensus Index) and raised USD550 million into a new Legal & General ETF which tracks the index. The ETF is listed on the London Stock Exchange under the tickers RIUS and RIUG.
The USD550 million investment comes from one of the leading pension insurance companies in Finland, Varma. Timo Sallinen, Head of Listed Securities at Varma, says: “Sustainability is a global issue, and is at the core of Varma’s decision making process. We are therefore pleased to lead this expansion into the US markets.”
Foxberry’s Sustainability Consensus Index offers exposure to US equities based on an exclusion methodology determined by the Sustainability Committee. Asset owners that have demonstrated sufficient expertise in sustainability matters may be invited to join the committee, in which both Legal & General and Varma are committee members.
Leveraging the combined expertise of its members, including those drawn from major asset owners to unlock their institutional insights and resources, the Sustainability Committee can both react quickly to market developments and arrive at a consensus position on matters of responsible investment. The use of the Sustainability Committee’s expertise seeks to “future-proof” the index, by being able to react to emergent issues.
Henrik Brunlid, CEO at Foxberrym says: “Helping our clients to achieve their sustainability investment objectives remains a key focus area for us. Expanding the Sustainability Consensus offering into the US markets is a natural progression, as we continue the build-out of our sustainability analytics platform and index offering.”
Howie Li (pictured), Head of ETFs at Legal & General Investment Management, adds: “LGIM is excited to be expanding the Responsible Exclusions fund range by offering investors access to both European and US exposures. Investing sustainably is the heart of our investment philosophy and, together with Foxberry, we are proud of the shared commitment we have with our investors in this range. We believe that the joint expertise of dedicated experts will provide more investors with the ability to invest dynamically and transparently as the responsible investment landscape evolves.”