Monthly commentary Pareto ESG Global Corporate Bond
Towards the end of September, China announced a large stimulus package of fiscal, monetary and property-related stimuli aimed at stimulating demand, recovering the economy and stabilising asset prices at the same time. The announcement induced a large positive shift among the investor collective and will raise economic growth in the short term.
The primary market has started after the holidays, with the Nordics in particular standing out with very high activity. The fund invested in one company in the primary market, Belgian Azelis, which is a globally leading supplier of chemical ingredients to customers in several sectors. Furthermore, the company was ranked number 1 in ESG among 205 competitors in the same industry by Sustainalytics 2023.
September was a good month for the fund, driven by the good cash return and lower market rates.
The fund is classified as an article 9 fund under the SFDR Disclosure Regulation.
Portfolio management team
Philip Lindgren
Portfolio manager
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