ESG & Investing
Giant Bet on Nvidia Helps ESG Fund Manager Beat 99% of Peers
- Swedbank Robur fund soars 40% as tech transforms ESG fortunes
- Tech bets are again helping ESG outperform the wider market
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The ESG fund with the biggest exposure to Nvidia Corp. has trounced much of the market, as bets on artificial intelligence transform the fortunes of portfolios promoting environmental, social and governance principles.
The $830 million Nvidia stake held by Swedbank Robur Technology C (Ticker: SWCONTU SS) makes it the most exposed ESG-registered fund to the world’s most valuable chip company, according to the latest data compiled by Bloomberg. That’s in a universe of about 1,300 ESG funds that hold Nvidia, the data show. The $10.6 billion Swedbank Robur fund gained about 20% last month alone, topping roughly 99% of peers. This year it’s up about 40%.