RBC Investor & Treasury Services (RBC I&TS) has been appointed custodian and administrator for a new Australian boutique fund manager focused on positive social and environmental impact.
Melior Investment Management launched its first fund on 1 July built around the UN Sustainable Development Goals.
The managed lauded RBC for its environmental, social and governance (ESG) credentials and said it played a big part in its decision to appoint the Canadian custodian.
“We selected RBC I&TS as our custody partner because of its focused strategy for asset managers and its strong ESG credentials, including the diversity of its team, which we felt were a good fit for our new fund,” said Lucy Steed, Melior’s chief executive officer.
“We have been impressed with RBC’s asset manager offering and look forward to partnering with RBC I&TS in supporting the growth and expansion of our business.”
A growing number of new ESG funds are launching around the world, while incumbents are also taking sustainable investing into account with many service providers highlighting the benefits as long-term returns, brand and reputational boosts, and decreased investment risk.
“Creating a positive social impact to help clients thrive and communities prosper is absolutely integral to everything that we do,” said David Brown, managing director for global client coverage, RBC I&TS Australia.
“We have a strong connection with Melior’s impact investment approach. At RBC, we measure and report on a comprehensive ESG composite index every year, presenting our sustainability credentials in areas such as our risk conduct, percentage of women directors and executives, and the value of our socially responsible investments.”