By Maitane Sardon

Allianz SE's Pimco said Thursday that it has launched a fund for European investors dedicated to investments linked to tackling climate change.

The investment manager said the fund, formally called Pimco GIS Climate Bond, will invest in both labeled and unlabeled green bonds, as well as bonds from issuers that demonstrate "innovative approaches" to environmental sustainability.

Pimco said the fund will invest in bonds issued by global companies across different sectors and will avoid companies that face increasing risks due to the effects of climate change.

The fund will be overseen by Pimco Chief Investment Officer of U.S. Core Strategies Scott Mather alongside fund managers Jelle Brons, Ketish Pothalingam and Samuel Mary.

Write to Maitane Sardon at maitane.sardon@wsj.com

(END) Dow Jones Newswires

October 01, 2020 07:49 ET (11:49 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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