Avendus Capital Public Markets Alternate Strategies, the alternate asset management arm of Avendus Capital, has announced plans to roll out India’s first ESG (environment, social and governance) based fund.
ESG funds make investments which, besides seeking positive returns, also consider and evaluate the long-term impact that business practices have on society, environment and the performance of the business itself.
Abhay Laijawala, who was earlier with Deutsche Securities, has joined Avendus to be the lead fund manager.
To spearhead this initiative, Avendus has also exclusively tied up with Institutional Investor Advisory Services (IiAS), a proxy advisory firm that will put in place a ranking framework covering ESG principles.
Avendus has also announced the appointment of former Reserve Bank of India deputy governor Dr. Rakesh Mohan and Amit Tandon, Co-founder and managing director of IiAS on the fund’s advisory board.
