Press release
Advertising material | 24 October 2022
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Advertising material | 24 October 2022
Luxembourg, 24 October 2022—The European Commission (EC) has appointed Thede Rüst, Head of Emerging Market Debt at Nordea Asset Management.(NAM), to a High-Level Expert Group to advise on how to scale up sustainable finance in low and middle-income countries.
The establishment of this group, announced in the Strategy for Financing the Transition to a Sustainable Economy, drew a very high number of applications from civil society, academia, the business and finance community and other non-public sector institutions. From the applicant pool, the EC selected 20 senior, high-level experts.
Rüst heads up the eleven member Emerging Markets Debt team. He joined NAM in 2014 and became a member of the UNPRI Fixed Income Advisory Committee in 2018. He has an extensive international background including work experiences in Emerging Markets such as South Africa and Afghanistan, as well as, at the United Nations in New York. Rüst and his team currently manage Emerging Markets fixed income solutions both in hard currency and local currency as well as sovereigns and corporates.
Rüst’s team aims to select investments that have a positive impact on the planet and societies where it sees values related to both ESG and financial risk. The team believes that a bottom-up selected portfolio composed of sustainable holdings can outperform broad market weighted benchmarks over the medium to long term.1
“I am extremely excited to be appointed as a member to the High-Level Expert Group of the European Commission to scale up sustainable finance in low and middle-income countries. At a time when the multiple global crises are taking a heavy toll on the global economy, overturning years of progress towards the Sustainable Development Goals (SDGs), helping partner countries in accessing finance for their sustainable infrastructure projects is critical to a global recovery. We need to take the next step past exclusion and towards engagement. Our job now is to recognize the unique challenges emerging markets face and provide capital for transition.”
— Thede Rüst, Head of Emerging Markets Debt at Nordea Asset Management
The group’s task is to identify over the next nine months how the EC could in a “Team Europe approach” contribute to bringing about the needed financing from the private sector for the massive investments required to tackle the most pressing global challenges and ensure sustainable development. The recommendations, expected to be presented around mid-2023, will inform a comprehensive Commission strategy to scale up sustainable finance in low- and middle-income countries. The strategy will be instrumental to bridge the investment gap in partner countries and to implement the EU Global Gateway strategy.
1There can be no warranty that an investment objective, targeted returns and results of an investment structure is achieved. The value of your investment can go up and down, and you could lose some or all of your invested money.
Nordea Asset Management is the functional name of the asset management business conducted by the legal entities Nordea Investment Funds S.A. and Nordea Investment Management AB (“the Legal Entities”) and their branches and subsidiaries. This document is advertising material and is intended to provide the reader with information on Nordea’s specific capabilities. This document (or any views or opinions expressed in this document) does not amount to an investment advice nor does it constitute a recommendation to invest in any financial product, investment structure or instrument, to enter into or unwind any transaction or to participate in any particular trading strategy. This document is not an offer to buy or sell, or a solicitation of an offer to buy or sell any security or instruments or to participate to any such trading strategy. Any such offering may be made only by an Offering Memorandum, or any similar contractual arrangement. Consequently, the information contained herein will be superseded in its entirety by such Offering Memorandum or contractual arrangement in its final form. Any investment decision should therefore only be based on the final legal documentation, without limitation and if applicable, Offering Memorandum, contractual arrangement, any relevant prospectus and the latest Key Investor Information Document (where applicable) relating to the investment. The appropriateness of an investment or strategy will depend on an investor’s full circumstances and objectives. Nordea Investment Management AB recommends that investors independently evaluate particular investments and strategies as well as encourages investors to seek the advice of independent financial advisors when deemed relevant by the investor. Any products, securities, instruments or strategies discussed in this document may not be suitable for all investors. This document contains information which has been taken from a number of sources. While the information herein is considered to be correct, no representation or warranty can be given on the ultimate accuracy or completeness of such information and investors may use further sources to form a well-informed investment decision. Prospective investors or counterparties should discuss with their professional tax, legal, accounting and other adviser(s) with regards to the potential effect of any investment that they may enter into, including the possible risks and benefits of such investment. Prospective investors or counterparties should also fully understand the potential investment and ascertain that they have made an independent assessment of the appropriateness of such potential investment, based solely on their own intentions and ambitions. Investments in derivative and foreign exchange transactions may be subject to significant fluctuations which may affect the value of an investment. Investments in Emerging Markets involve a higher element of risk. The value of your investment can go up and down, and you could lose some or all of your invested money. Investments in equity and debt instruments issued by banks could bear the risk of being subject to the bail-in mechanism (meaning that equity and debt instruments could be written down in order to ensure that most unsecured creditors of an institution bear appropriate losses) as foreseen in EU Directive 2014/59/EU. Nordea Asset Management has decided to bear the cost for research, i.e. such cost is covered by existing fee arrangements (Management-/Administration-Fee). Published and created by the Legal Entities adherent to Nordea Asset Management. The Legal Entities are licensed and supervised by the Financial Supervisory Authority in Sweden and Luxembourg respectively. A summary of investor rights is available in English through the following link: https://www.nordea.lu/documents/engagement-policy/EP_eng_INT.pdf/. The Legal Entities’ branches and subsidiaries are licensed as well as regulated by their local financial supervisory authority in their respective country of domiciliation. Source (unless otherwise stated): Nordea Investment Funds S.A. Unless otherwise stated, all views expressed are those of the Legal Entities adherent to Nordea Asset Management and any of the Legal Entities’ branches and subsidiaries. This document may not be reproduced or circulated without prior permission. Reference to companies or other investments mentioned within this document should not be construed as a recommendation to the investor to buy or sell the same but is included for the purpose of illustration. The level of tax benefits and liabilities will depend on individual circumstances and may be subject to change in the future. © The Legal Entities adherent to Nordea Asset Management and any of the Legal Entities’ branches and/or subsidiaries.
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