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Tabula lists Article 9 Paris-aligned ultrashort Euro IG corporate bond ETF on Borsa Italiana: TUCP IM


European ETF provider Tabula Investment Management Limited has listed the Tabula EUR Ultrashort IG Bond Paris-Aligned Climate UCITS ETF (TUCP IM) on Borsa Italiana.

The firm writes that TUCP meets the criteria for an EU SFDR Article 9 fund, and provides significantly lower portfolio GHG emissions and an enhanced ESG profile when compared to existing ultrashort solutions.

The ETF tracks a Paris-aligned benchmark designed to include issuers that adhere to a global warming scenario of +1.5°C according to the Paris agreement, while integrating environmental, social and governance (ESG) criteria into the security selection process.

Key features include:

•               50 per cent initial reduction in GHG emissions vs the broad benchmark and a 7 per cent year-on-year annual reduction

•               ESG screening: norms-based (e.g. UNGC), controversies and certain business

activities (alcohol, adult entertainment, gambling, controversial weapons,

civilian firearms, nuclear power, GMO, nuclear weapons, cannabis)

•               Liquidity and holdings constraints applied to improve liquidity profile while

maintaining similar characteristics to the broad underlying benchmark

TUCP has a current 12-month gross yield of 4.2 per cent in EUR, with a duration of 0.4 years, an average daily volatility of less than 1bp, and an average credit rating of A.

“Tackling climate change is the defining issue of our age, and a major risk to all investment portfolios,” says Italian Country Head Franco Mancini. “Our EUR Ultrashort IG Bond ETF listing on Borsa Italiana shows our commitment in bringing Italian investors cutting edge ESG fixed income exposures. TUCP is the only Paris-aligned ultrashort product in the market and joins our existing stable of euro investment grade, global fallen angels and euro high yield Paris-aligned funds.”

The Tabula EUR Ultrashort IG Bond Paris-Aligned Climate UCITS ETF has EUR20 million in assets. The ETF has an ongoing charge figure of 0.15 per cent.

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