Aberdeen Standard Investments has been selected to manage a ground-breaking investment trust that is looking to raise £200 million.
The Global Sustainability Trust is being launched by the Global Sustainability Community Interest Company and will invest primarily in businesses that have a “positive environmental and social impact”.
The roll-out comes 150 years after the first investment trust was launched. Many of the early funds were established in Scotland and billed as a “democratising of finance” – giving individual investors access to global investment opportunities, such as US railroads.
Aberdeen Standard Investments was appointed as investment manager following an independent tender and selection process.
Martin Gilbert, co-chief executive of Aberdeen Standard Investments, said: “We have an established track record as an asset manager that has integrated environmental, social and governance considerations across our investment processes for all asset classes.
“Given the vital global importance of the United Nations Sustainable Development Goals, this trust is well timed to offer investors access to the potential returns and rewards of those investments helping to create a better world.”
Andrew Dykes, deputy chairman of the Global Sustainability Trust, added: “The independent panel was very impressed by the experience and breadth of expertise shown by the private markets team at Aberdeen Standard Investments.”
The trust said it expects to begin the formal marketing for its initial public offering (IPO) shortly. Shares are likely to commence trading on the London Stock Exchange around the end of November.