Deutsche Asset Management (Australia) is still committed to climate change strategies despite its request that Standard and Poor’s (S&P) withdraw the rating on its DWS Global Climate Change Fund following its decision to close the fund.
A spokesperson for Deutsche Asset Management said the fund was closed due to the small size of the portfolio.
It’s a “small portfolio, making it difficult for the fund managers to meet their objectives”.
In response to the reason for the fund’s small size, the spokesperson said investors were being “quite conservative” and while there hadn’t been a withdrawal of funds, “we just haven’t seen the fund grow”.
However, according to the spokesperson, Deutsche Asset Management is still committed to climate change, with institutional investors still able to invest in other climate change strategies.
