Jupiter Global Ecology Diversified (JGED) impressed the awards judges by its success in both enhancing its ESG agenda through its equity and fixed income holdings, whilst delivering strong returns.

The €16 million fund – which was launched in 2016 – is still "quite unique" in its hybrid asset approach to sustainable investment, its investment team Charlie Thomas, Rhys Petheram and Jon Wallace told Environmental Finance.

The fund, managed by Jupiter Asset Management, has delivered top-decile returns over the last year – which includes the Covid-19 downturn – and three years, driven by positive contributions from its bond and equity portfolio as well as through its asset allocation.

This strong performance at JGED – which has seven portfolio themes: circular economy, clean energy, water, mobility, energy efficiency, sustainable agriculture, nutrition and health, and environmental services – has been achieved alongside enhancing the impact of those investments.

"A standout has been that the supranational development banks have proven particularly impactful during the onset of the Covid-19 crisis, with their strengths in supporting healthcare systems in developing countries proving critical at this time," the managers told Environmental Finance. "The tactical bias towards these AAA rated, lower risk supranational bonds acted as a ballast to returns during the market sell-off at the start of 2020."

The managers added that another impact highlight during the last year was its holding in Ørsted. The Danish power firm "continues to push the boundaries of what is achievable in offshore wind, with the company now rapidly scaling up and developing offshore wind projects in three continents," they said.

The fund has consistently advocated for green bonds to demonstrate greater environmental 'additionality' and the long-term ambition of the issuer, to help push the ESG agenda forward. The managers often engage with potential issuers to shape and challenge their green bond framework. EF