Global Water Intelligence (GWI)

No change for KBI’s water strategy under new owners

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Source: Global Water Intelligence (GWI)

The acquisition of a majority stake in Kleinwort Benson Investors (KBI) by Euronext-listed asset manager Amundi earlier this week is not expected to have an immediate impact on KBI’s water strategy, an insider told GWI today.

Although KBI suffered a blow in April this year when it lost the sub-advisory mandate for the $430 million Calvert Global Water Fund, the remainder of its global water strategy is up around 12% in Euro terms year to date, which is a marked improvement on 2015, when it lost 11.3% (in dollar terms).

Amundi has shown appetite for water investment before, although it folded its €60 million stand-alone water fund into its global equities strategy in April 2015.

The longevity of the KBI water strategy is further assured by the fact that KBI’s management team has retained a 12.5% equity stake in the business, which will henceforth be known as KBI Global Investors.

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