Allianz Global Investors will allow previously banned defense-related assets to be held in some ESG funds, a move it says reflects the new geopolitical reality gripping Europe.
The Allianz SE-owned asset manager is lifting existing restrictions on military equipment and services, and removing a ban on investments in nuclear weapons-related activities under the Non-Proliferation Treaty, it said in a note to clientsdated March 27. The changes apply to most of AGI’s mutual funds classified as Article 8, which is a European Union designation that requires asset managers to “promote” environmental, social and governance goals.
ESG fund managers across Europe ...
