State Street Global Advisors new ESG index fund has reached £1bn AUM.

The ACS Multi-Factor Global ESG Index fund was launched on 18 January and tracks the MSCI World Select 5-Factor ESG Low Carbon Target index. Companies in the index have a higher ESG rating than those in the standard MSCI index along with lower carbon footprints.

Ana Harris, head of equity indexed strategies at SSGA says, “The fund allows investors to build an equity allocation with an improved carbon footprint and ESG profile relative to the broader market. We closely monitor ESG exposures across the fund to ensure an appropriate balance of factors are maintained at all times.”