MUMBAI: Kotak Asset Management Company (Kotak Mutual Fund) said that it has signed the United Nations-supported Principles for Responsible Investment, becoming the first asset management company to lead the responsible investing narrative in India.
The PRI is the leading global network for investors, committed to integrating environmental, social governance (ESG) practices into investment policies and practices.
Kotak Mutual Fund’s investment philosophy has always been driven by the principle of delivering optimum returns on a sustainable basis for its investors. By signing the Principles for Responsible Investment (PRI), Kotak Mutual Fund aims to adhere and implement ESG standards in its investment decisions. Formal adoption of the global benchmarks on responsible investing assures all stakeholders of Kotak Mutual Fund’s commitment to ESG practices.
Nilesh Shah, MD & CEO, Kotak Mahindra Asset Management Co. Ltd. said, “Investor interest is at the core of our investment philosophy and all our investment decisions have always been driven by sustainable returns. By signing the PRI, we are formally committing to responsible investing.”
“Globally, companies adhering to ESG protocols, in addition to having good risk management and corporate governance practices, deliver sustainable returns. With evolving investor attitude towards responsible investing, we need to adapt and adopt international trends and best practices in this area. The processes outlined by PRI will help us develop a more sustainable financial ecosystem’, added Nilesh.
Fiona Reynolds, CEO, Principles for Responsible Investment said, “We appreciate Kotak Mutual Fund’s initiative to sign PRI principles. The first Indian asset management company publicly committing to make its investment decisions in a more responsible and sustainable manner using the PRI’s voluntary framework will encourage not just the rest of Indian asset management companies but also other private, public and state enterprises to emulate the same. To get sustainable returns on investments, investment decisions should be driven by the tenets of ESG principles. This is one of the world’s fastest growing investment trends. We believe that it is time for Indian businesses to follow global best ESG practices.”
Established in 2006, the PRI principles have since been signed by more than 1,900 global signatories comprising of asset owners, investment managers and service providers across 55+ countries having a combined AUM of US $70 trillion.