Kotak Mutual Fund Leads Responsible Investing Narrative in India
Bangalore, 30 April 2018: Kotak Asset Management Company (Kotak Mutual Fund) today announced that it has signed the United Nations-supported Principles for Responsible Investment, becoming the first asset management company to lead the responsible investing narrative in India. The PRI is the leading global network for investors, committed to integrating environmental, social governance (ESG) practices into investment policies and practices.
Kotak MutualFund’s investment philosophy has always been driven by the principle of deliveringoptimum returns on a sustainable basis for its investors. By signing thePrinciples for Responsible Investment (PRI), Kotak Mutual Fund aims to adhereand implement ESG standards in its investment decisions. Formal adoption of theglobal benchmarks on responsible investing assures all stakeholders of KotakMutual Fund’s commitment to ESG practices.
Nilesh Shah,MD & CEO, Kotak Mahindra Asset Management Co. Ltd. said, “Investor interestis at the core of our investment philosophy and all our investment decisionshave always been driven by sustainable returns. By signing the PRI, we areformally committing to responsible investing.”
“Globally,companies adhering to ESG protocols, in addition to having good risk managementand corporate governance practices, deliver sustainable returns. With evolvinginvestor attitude towards responsible investing, we need to adapt and adoptinternational trends and best practices in this area. The processes outlined byPRI will help us develop a more sustainable financial ecosystem’, added Nilesh.
FionaReynolds, CEO, Principles for Responsible Investment said, “We appreciate KotakMutual Fund’s initiative to sign PRI principles. The first Indian assetmanagement company publicly committing to make its investment decisions in amore responsible and sustainable manner using the PRI’s voluntary frameworkwill encourage not just the rest of Indian asset management companies but alsoother private, public and state enterprises to emulate the same. To getsustainable returns on investments, investment decisions should be driven bythe tenets of ESG principles. This is one of the world’s fastest growinginvestment trends. We believe that it is time for Indian businesses to followglobal best ESG practices.”
Establishedin 2006, the PRI principles have since been signed by more than 1,900 globalsignatories comprising of asset owners, investment managers and serviceproviders across 55+ countries having a combined AUM of US $70 trillion.