Nordea AM adds two ESG credit funds

Nordea Asset Management has added two new funds to its ESG STARS range.

The new funds are the Nordea 1 – US Corporate Stars Bond Fund and the Nordea 1 – North American High Yield Stars Bond Fund. Both US credit funds were launched in 2019 and have have now been made available to NAM’s international client base.

The strategies are now part of the NAM’s ESG STARS range with an ESG best-in-class approach and positive screening to identify strong or improving ESG profiles. They also adhere to NAM’s Paris Aligned Fossil Fuel Policy.

Nordea 1 – US Corporate Stars Bond Fund, an investment grade product with US$1.4bn in AUM has an MSCI ESG rating of AA* and its weighted carbon intensity is 108.7 tonnes CO2e/USD mn** (vs the index of 242.9 tonnes CO2e/USD mn), which is 55% lower than the index).

Nordea 1 – North American High Yield Stars Bond Fund, a high yield product with US$757m in AUM has an MSCI ESG rating of AA* and its weighted carbon intensity is 129.7 tonnes CO2e/USD mn** (vs the index of 330.9 tonnes CO2e/USD mn), which is 61% lower than the index.