Nordea soft closes €6bn global climate and environment fund

Effective 26 February

Nordea Asset Management has soft closed the Nordea 1 – Global Climate and Environment fund, effective 26 February 2021.

The rapid growth of the fund has been cited as the reason for the closure, with assets under management (AUM) doubling over the course of 12 months and growing more than 500% in the past two years. Nordea AM scoops £325m Brunel climate mandate It had reached more than €6bn AUM by the end of January 2021, resulting in the soft closure of the fund to protect the "best interests of existing shareholders". Launched in 2008 following Nordea's signing of the UNPRI, the fundamental equities team which manages the fund has since grown its range of ESG-focused products and now manages asset...