It is an open-ended Sicav investment fund registered for sale in Luxembourg, France, Germany, the Netherlands, Spain, UK, Austria, Belgium, Croatia, Czech Republic, Denmark, Finland, Jersey, Guernsey, Hungary, Ireland, Liechtenstein, Malta, Norway, Poland, Romania, Slovakia and Sweden.
The fund, which has a US dollar currency base rate, seeks to deliver “strong risk adjusted returns” by investing globally in companies involved in the design, manufacture, or sale of products and services in connection with the water and waste management sectors.
Romain Boscher, global chief investment officer of Equities at Fidelity International, said: “Our new water and waste fund is a great example of being able to incorporate responsible and sustainable investment themes into a portfolio, without comprising on diversification or long-term growth potential.
“We continually review our fund range to ensure we are meeting the evolving needs of our clients and will continue to explore new and differentiated products in this field in 2019.”
The firm has appointed Bertrand Lecourt as portfolio manager who will be responsible for finding the “most compelling investment opportunities in this under-researched sector”.
He joins Fidelity International from Polar Capital, and has over 18 years’ experience researching water and waste utilities.