Ratings Roundup

On 21st August abrdn implemented changes to the abrdn Global Corporate Bond Tracker Fund. Firstly, they have changed the name of the fund to the abrdn Global Corporate Screened Tracker Fund. Secondly, they have changed the fund’s benchmark to the Bloomberg Global Corporate Screened Index (Hedged GBP).

The new benchmark applies a number of exclusions based on ESG metrics. It will exclude securities issued by companies that have breached the UN Global Compact principles as well as those involved in controversial weapons, thermal coal, oil sands, shale energy and tobacco. These exclusions represent broadly 10%-12% of the global corporate bond market.

Square Mile view these changes positively and have decided to change the fund’s rating from a Recommended rating to a Responsible Recommended rating to reflect the uplift in the fund’s ESG credentials.

Visit the abrdn Global Corporate Bond Tracker fund page