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One of the world's biggest asset managers has launched a new fund that aims to invest in some of the world's poorest countries, the Guardian reports.
Called the CT Global Social Bond Fund, it's the brainchild of Columbia Threadneedle Investments and aims to invest in some of the world's "most unequal societies," according to a press release.
"The fund looks like a conventional fund," says portfolio manager Tammie Tang.
"The latter two we are among the leaders in having the most unequal societies.
At its core, it's a high-grade fund, so eligibility in terms of global or more emerging market type of regions is open so long as it meets that criterion."
The fund will invest in mostly European, US, and UK countries, but it will also invest in countries in Africa, Asia, and Latin America, according to the press release.
It's not the first time a major asset manager has launched a social bond fund.
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