MarketWatch- The popularity of the environment and all things “green” has not escaped hedge funds: At least three dozen hedge funds are already applying environmental and social screens to the investment process, with more on the way according to industry reports.
The strategy is to get a piece of the socially responsible investing market, estimated at approximately $2 trillion, according to the Social Investment Forum, specifically the environmental sector, which is growing rapidly.
Kenmar Global Investment Management LLC in Rye Brook, N.Y., which already manages multiple funds of hedge funds and has $3.6 billion under management, next month will launch a fund of funds comprising socially conscious and eco-friendly underlying hedge funds, according to the financial trade magazine Investment News.
The strategy, which will allocate assets to about 30 hedge funds, is targeting the growing appetite of institutional investors that have mandates requiring them to consider environmental and other social causes, it says.
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