The abrdn Global Corporate Bond Screened Index Fund (“the Fund”) manages over £8bn of assets on behalf of UK investors and was launched in August 2017 as a tracker fund of the Bloomberg Global Corporate Index. The Fund transitioned to a bespoke screened index in 2023 and now aims to generate income and growth over the long term (5 years or more) by tracking the return of the Bloomberg Global Corporate Screened Index (Hedged to GBP).
This screened index was designed by abrdn in collaboration with Bloomberg and aims to meet the increasing demand for climate and sustainable focused products from a broad spectrum of clients including UK Wholesale and Adviser clients.
The fund aims to address sustainability concerns by adopting the exclusions listed below:
• Controversial Weapons: All companies classified as involved in the core weapon system or components and services that are considered tailor-made and essential for the lethal use of controversial weapons.
• UNGC violations: All companies that have breached a principle of the UN Global Compact.
• Thermal Coal: All companies deriving 5% or more of their revenue from mining thermal coal, generating electricity from thermal coal, or providing supporting products or services for thermal coal extraction.
• Oil Sands: All companies deriving 5% or more of their revenue from the extraction of oil sands.
• Shale Energy: All companies deriving 5% or more of their revenue from the extraction and/or production of shale energy.
• Tobacco: All companies deriving 5% or more of their revenue from tobacco products including cigarettes, cigars, tobacco, electronic cigarettes, paper used by end consumers for rolling cigarettes, filters, snuff tobacco, etc. It includes tobacco products manufacturers, retailers and distributors, as well as companies providing tobacco-related products or services.