Phoenix Group assigns £338m to multi-asset climate solution

Written by Adam Cadle

15/02/2023

Phoenix Group has assigned £338m of with-profits investment funds to a new multi-asset climate solution which will be managed by Robeco.

The group said the new solution forms part of Phoenix Life and Standard Life’s wider with-profits strategic asset allocation.

“This will add another diversified source of return that aims to meet the long-term investment objectives for with-profits customers through a balanced portfolio of equity and credit, that invests in the climate change leaders of today and the future, and companies pursuing a net-zero decarbonisation strategy,” it added.

James Mitchell, head of strategic partnerships and research, Phoenix Group, said: “We are delighted to be working with Robeco on this new multi-asset climate solution as part of our ongoing commitment to help tackle the climate challenge. At Phoenix, we are continuing to find ways to create a sustainable future for all, including renewed investment into social housing, infrastructure and cutting-edge green technologies. Our partnership with Robeco drives forward this commitment across different asset classes as we aim to be net-zero throughout our investment portfolio by 2050.”

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