T. Rowe Price has launched two new impact funds, the Global Impact Equity Fund and Global Impact Credit Fund.

The T. Rowe Price Global Impact Equity Fund will pursue active investment based on impact-oriented corporate engagement, active proxy voting, and building direct influence with management teams. It will invest in between 55 and 85 stocks and will be managed by Hari Balkrishna.

The T. Rowe Price Global Impact Credit Fund, managed by Matt Lawton, targets growing businesses with a clearly identified impact thesis. Examples include renewable energy companies, not-for-profit hospitals, and development banks.

Both strategies target investments aligned to three key pillars: climate and resource impact, social equity and quality of life, and sustainable innovation and productivity.

Hari Balkrishna, portfolio manager of the T. Rowe Price Global Impact Equity Fund, says: “The investment industry has reached an exciting point where we can contribute to positive societal and environmental change, alongside a focus on financial performance. Being able to marry these goals together in a single strategy is an exciting step forward for us as investors, and we look forward to partnering with clients in our pursuit of positive impact at scale, on a truly global basis.”