|Climate Change Capital announced this week that it had been hired to manage the Global Climate Change Fund for OpenWorld, Russell Investments’ new single manager platform. The new fund “will invest globally in sectors impacted by climate change.”|
The Global Climate Change Fund will be managed by Climate Change Capital’s Global Equities team, which is led by Managing Directors Paul Udall and Ronnie Lim. Udall and Lim joined Climate Change Capital in 2007 from Morley Fund Management (now Aviva Global Investors) where they worked on the firm’s Sustainable Investment team. Combined, the two managers have more than 30 years' investment experience, including 12 years focusing on “specialist environmental equities.”
Russell Investments is a global investment manager with over $210 billion in assets under management. Climate Change Capital aims to provide attractive returns to investors, demonstrating the financial opportunity associated with the low carbon economy. As of April 2009, the firm had over $1.5 billion in assets under management.