National Trust, Swindon, England, selected Robeco to manage €87 million ($105 million) allocation to global credit with a climate focus, a spokesman confirmed.
The conservation charity, which has £1.4 billion ($1.9 billion) in assets, chose Robeco's Climate Global Credits Fund. The fund invests in diversified corporate bonds with explicit climate targets that contribute to the goals of the Paris Agreement. The fund aims to decarbonize the portfolio by 7% a year.
Cambridge Associates assisted with the manager selection process.
Robeco was added to National Trust's manager roster for the first time.