Last year, I asked her if she was seeing any movement towards an index or for that matter if investment firms were indeed moving to set up SRI Funds in India. She replied saying there were faint rumblings but nothing concrete.
A couple of days ago, I came across this piece of news. The European asset management firm Robeco and Canara bank announced a joint venture. As part of this venture, SAM (Sustainable Asset Management) the Swiss subsidiary of Robeco will offer a SRI fund by the end of 2007.
Canara Robeco JV will bring into the Indian market clean technology, smart energy and water products. Sam has tremendous expertise in this segment and we hope to launch our products by end of this year. Sam's products are sold in Australia, China and Japan.I think this is a good beginning. For environmentally conscious, risk averse and lazy investors like me (too lazy to do active trading) this is great news. I hope NSE will show some leadership and work towards a sustainability index.
We are very bullish on our sustainability fund. The Indian market is in the beginning of the growth stage and there is tremendous potential for growth
Update: ABM AMRO has also started a sustainability fund [via email, Rajni Bakshi]