Blackrock launches high yield ESG fund

BlackRock has launched the Global High Yield ESG and Credit Screened Fund to be managed by Lauritz Ringdal and Riyadh Ali. The fund will apply ESG screens to exclude firms The new strategy will screen out firms involved in activities such as controversial weapons, fossil fuels and tobacco and exclude firms that violate the UN Global Compact and companies with the worst MSCI ESG Ratings. It will use Balckrock’s a systematic fixed income proprietary strategy benchmarked to the ICE BofAML Developed Markets High Yield Constrained Index.