UBS launches ocean engagement fund in collaboration with Rockefeller Asset Management

Zurich, 29 May 2024 – The new UBS Rockefeller Ocean Engagement Fund is an actively managed equity fund aligned with the UBS Chief Investment Office (CIO) The blue economy long term investment theme, which identifies investable markets worth more than USD 1.1 trillion in areas such as wastewater treatment, waste management and plastic recycling, and sustainable aquaculture.

The ocean is critical to the effective functioning of economies, society, and the environment, but only 5% of the ocean is protected and development is underfunded. Transitioning to a blue economy will drive shifts in profit pools, creating investment opportunities as business models adapt to this new world. The OECD expects the blue economy to reach USD 3 trillion in value by 2030, which is double the size from 2010.

The UBS Rockefeller Ocean Engagement Fund encompasses a portfolio with around 50 high conviction stocks reflecting a small and mid-cap focus and value tilt. Its objective is to seek long-term real returns by pursuing a thematic strategy, primarily investing in public equities and equity-type securities, whilst creating positive change for ocean health via a consistent investment and shareholder engagement process.

The fund builds on UBS GWM’s award winning CIO research¹ and harnesses the ocean expertise of Rockefeller, who, as portfolio manager, is also undertaking the active investor engagement, leveraging its multiple decades of experience constructively engaging with companies to create long-term value and aiming to foster conservation and sustainable use of oceans and their resources. Rockefeller collaborates with its science and policy advisor, The Ocean Foundation, a leading non-profit dedicated to conserving ocean environments around the globe, offering its long-standing expertise in identifying trends related to the ocean-climate nexus.

Bruno Marxer, Head of Global Investment Management at UBS Global Wealth Management, says:
“We are pleased that through our close collaboration with Rockefeller Asset Management we can offer our clients access to this major structural growth theme, using our innovative engagement framework. Not only does it enable portfolio diversification in times of market uncertainty, but it offers exposure to multiyear growth prospects as the world seeks to transition toward more nature-aligned and equitable economic systems.”

Casey Clark, President and Chief Investment Officer at Rockefeller Asset Management, notes:
“Leveraging Rockefeller’s 30-plus years of investment experience and distinctive network to bridge the gap between science and investing, we believe the UBS Rockefeller Ocean Engagement Fund is a compelling opportunity for investors seeking uncorrelated returns and ocean health impact via shareholder engagement. We look forward to working with UBS to provide their clients with innovative, impact strategies featuring broad access to our deep intellectual capital and award-winning research.*”

Andrew Lee, Head Sustainable & Impact Investing at UBS Global Wealth Management, says:
“We continue to be strong supporters of shareholder engagement, and think it has the potential to both - deliver positive change and improve profitability of companies. The new strategy allows us to have deeper impact on one of the key resources of our planet, and bring a stronger investment focus on the ocean, which remains relatively underfunded by investors.”

This addition to the UBS GWM thematic fund offering also marks a further stepping stone in the integration of UBS and Credit Suisse, as the Credit Suisse Rockefeller Engagement Fund, launched in 2020, is merged into the new UBS fund, bringing in over USD 200 million in invested assets.

The UBS Rockefeller Ocean Engagement Fund is available in various jurisdictions across Europe.

UBS Switzerland AG

[1] Best Chief Investment Office in Private Banking, PWM/The Banker Global Private Banking Awards 2023

About Rockefeller Asset Management
Rockefeller Asset Management serves institutions, financial professionals, and other institutionally-minded investors through equity, fixed income, and alternative solutions that seek outperformance driven by a disciplined investment process. As part of the Rockefeller ecosystem, Rockefeller Asset Management convenes global networks to generate insights and outcomes not commonly found in the investment community. With over 30 years of intellectual capital from pioneering global investing and ESG leadership, and decades of constructive shareholder engagement, Rockefeller Asset Management is committed to continually building partnerships and expanding its platform that seeks to put clients and their performance first. As of March 31, 2024, Rockefeller Asset Management has over USD 14 billion assets under supervision.**

About The Ocean Foundation
As the only community foundation for the ocean, The Ocean Foundation’s 501(c) (3) mission is to improve global ocean health, climate resilience, and the blue economy. We create partnerships to connect all peoples in the communities in which we work to the informational, technical, and financial resources they need to achieve their ocean stewardship goals. The Ocean Foundation executes core programmatic initiatives to make ocean science more equitable, advance blue resilience, address global marine plastic pollution, and develop ocean literacy for marine education leaders. It also fiscally hosts more than 55 projects across 25 countries.

About UBS
UBS is a leading and truly global wealth manager and the leading universal bank in Switzerland. It also provides diversified asset management solutions and focused investment banking capabilities. With the acquisition of Credit Suisse, UBS manages 5.7 trillion dollars of invested assets as per fourth quarter 2023. UBS helps clients achieve their financial goals through personalized advice, solutions and products. Headquartered in Zurich, Switzerland, the firm is operating in more than 50 markets around the globe. UBS Group shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).