Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced that Irish Life Investment Managers (ILIM) has licensed an ICE ESG Fixed Income index, the ICE ILIM Sustainable Euro Corporate Bond Index, for its Irish Life Euro Sustainable Corporate Bond Fund.
The ICE ILIM Sustainable Euro Corporate Bond Index seeks to limit the inclusion of companies involved in controversial weapons, tobacco, thermal coal, arctic oil and oil sands, excludes the bottom 7% issuers according to ESG and carbon emissions criteria, and tilts index weights, taking into account company green and fossil fuel revenue. The selected index is derived from the ICE BofA Euro Large Cap Corporate Index, which tracks the performance of large capitalization EUR denominated investment-grade corporate debt, publicly issued in the Eurobond or Euro member domestic markets.
The index was created to meet the specific needs of ILIM and to provide its clients with broader exposure to environmental, social and governance (ESG), and sustainability factors. ICE’s comprehensive customization solution offers a team of index analysts who develop and back test the index specifications, publish the full set of performance and statistical measures, and distribute the index across a wide range of platforms and redistributors.
“Irish Life Investment Managers has worked to deliver clients with high-quality and innovative investment strategies and this new fund continues that legacy,” said Aram Flores, VP, Head of Index and Analytics at ICE. “ICE has broad experience creating tailormade solutions for specific investment strategies. We’re proud to have worked with the team at ILIM to help them design a fund that meets the needs of its clients and that has already attracted over $3 billion in assets. This allows international investors to increase their access to sustainable fixed income.”
“ICE’s range of solutions for fixed income sustainable benchmarks made them an attractive solution for the Irish Life Euro Sustainable Corporate Bond Fund,” said John Thornton, Head of LDI & Indexed Fixed Income at Irish Life Investment Managers. “Responsible Investing and building a better future are fundamental parts of ILIM’s mission and we aim to provide a range of solutions to our clients that allows them to incorporate ESG factors into their portfolio.”
ICE and ILIM intend to continue developing customized indices to meet the investment goals of their clients. ICE’s global family of indices serve as the performance benchmark for more than $1 trillion in assets managed by investors around the globe. For more information about ICE’s Indices, please visit: https://www.theice.com/market-data/indices.
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