StanChart, Aviva launch sustainable product offerings

Standard Chartered Bank (Singapore) yesterday launched its sustainable deposit offering for both corporate and retail clients in Singapore.

For retail clients, the bank is offering a promotional rate of 1.9 per cent interest for a minimum placement of US$5,000 (S$6,900) for a tenor of three months. Priority banking clients will get a rate of 2 per cent. The promotional period will last until Oct 31, and applies only to fresh funds with the bank.

Liquidity raised will be referenced against sustainable assets supported by the United Nations' Sustainable Development Goals, and can be used to finance climate-friendly projects and small and medium-sized enterprises in developing countries, undertake microfinance and provide funds for a variety of sustainable projects.

The sustainable deposit, which comes under the bank's Green and Sustainable Product Framework, is developed in collaboration with Sustainalytics, a provider of environmental, social and corporate governance research.

Aviva Investors, the global asset management business of the insurance giant, yesterday also launched a sustainability-focused multi-asset fund for both accredited and retail investors in Singapore.

The Aviva Investors Sustainable Income and Growth Fund aims for long-term sustainable income and targets people planning for retirement. It is eyeing a 5 per cent income yield with long-term capital growth from a portfolio of 80 to 120 securities drawn from over 25,000 names in the MSCI All Country World Index and the Bloomberg Barclays Global Aggregate Bond Index.

Aviva Investors, the global asset management business of the insurance giant, yesterday also launched a sustainability-focused multi-asset fund for both accredited and retail investors in Singapore.

Said Mr Charles Wong, Aviva Investors' head of wholesale, Asia: "In an environment of volatile markets and concerns over growth, we believe (the fund) can play an important role in addressing the need of investors in Singapore for long-term regular income with a responsible investment focus."

A version of this article appeared in the print edition of The Straits Times on October 09, 2019, with the headline 'StanChart, Aviva launch sustainable product offerings'. Print Edition | Subscribe