The fund management focuses on global companies that make a positive contribution to solving challenges such as climate change, water scarcity or demographic change with their products and services and show high profitable growth. Bottom-up stock selection includes classic fundamental data as well as sustainability criteria. Risks, especially in the ESG area, are avoided by excluding companies that do not pursue a sustainability approach and whose activities are not ESG-compliant. The fund management identifies companies that offer added value for the environment and society through their products and/or services.
Investment in global growth companies of all sizes
Concentrated portfolio of approximately 40-60 stocks
Benchmark-agnostic selection
Focus on positive contribution and sustainable growth
Further details on the opportunities and risks of this fund can be found in the sales prospectus.
Indexed performance
Performance in 12-month periods
Currencies
Sectors
Countries
Asset classes
Top Holdings
Monthly market comment
Following the decline in early April, global equities recovered, driven by retail investor purchases, Trump’s pivot in tariff policy, and a reversal in fiscal policy. The Berenberg Sustainable World Equities Fund outperformed its benchmark. Microsoft impressed with strong quarterly figures. Azure grew by 35% and benefited from accelerated AI growth. Broadcom recovered significantly. Good news about Google's new TPU generation and robust demand for AI chips provided support. Insulet impressed with revenue growth of just under 30% in the first quarter. Growth in new patients was particularly encouraging, bucking the usual seasonal trend. Strong figures failed to boost the share price of Sartorius Stedim Biotech, with regulatory risks in the pharmaceutical sector continuing to weigh on the stock. Alcon reported a weak first quarter but expects new products to accelerate growth in the second half of the year. Ambu's share price disappointed with weak figures and unclear statements on competition from China. In the medium term, Chinese tariffs remain a potential driver. In May, we added Flowserve to the portfolio and sold Marvell.
Portfolio Management
Bernd Deeken
Bernd Deeken has been a Portfolio Manager at Berenberg since April 2011. Within the Equity Fund Management, he oversees funds and special mandates with a focus on sustainability. Previously, he worked in asset management in the area of multi-asset mandates. After his dual studies at the Berufsakademie für Bankwirtschaft in Hannover (including a bank schooling), he completed his Masters in Banking and Finance in Zurich and Aberdeen. He is a Chartered Alternative Investment Analyst (CAIA) and is a CFA Charterholder.
Bernd Deeken
Portfolio Manager
CO₂-Intensity
The CO₂ Intensity (Scope 1 & 2emissions) per company is multiplied by is portfolio weight (current value of the investment by current portfolio value) and summedup. This weighted average CO₂ Intensity provides an indication ofthe portfolio’s exposure to CO₂ emission intensive companies. The unit is in tons of CO₂ per USD 1 million revenues.
The fund does not actively manage its carbon footprint, however, emissions data such as CO2 intensity are relevant parameters which can be used to assess the efficient management of a company and the extent of transition risks.
ESG Score
Using a score between 0 (lowest) and 10 (highest), MSCI ESG assesses the ability of portfolio holdings to identify and manage environmental, social and governance-related risks compared to peers. The ESG scores are assigned at the holding level and are aggregated at the portfolio level as the weighted average ESG Score.
The data provider MSCI ESG uses an ESG score of 0 to 10 to assess the management of material ESG risks of portfolio holdings compared to competitors.
ESG Controversies Screen
MSCI ESG analyses controversial business practices from the five areas environment, human rights, labour rights & supply management, customers and governance. The controversies are rated according to their reputational risk as well as the operational handling by a flagging system. Green indicates no or weak controversies, yellow indicates moderate controversies, orange indicates severe controversies and red indicates very severe controversies.
Investments in the fund are monitored for ESG controversies and, with the help of MSCI ESG data, flagged according their severity. Thereby, potential ESG risks of investments are identified. In the case of an orange flag (severe controversy), we enter into an active exchange with the company. In the case of a red flag (very severe controversy), the company is excluded.
Sustainable Development Goals (SDGs)
For our funds with a "Positive Impact" focus, we showcase to which of the United Nations SDGs ourportfolio positions positively contribute. For this purpose, we focus on 10 investable goals. According to its contribution, each investment is assigned to one to max. three goals. Portfolio weights are shown along the respective SDGs - in the case of investments that contribute to several SDGs, the portfolio weight is allocated proportionately to the SDGs.