UBS Group AG's wealth management unit launched a group for investment strategies related to diversity and inclusion, with its goal to generate both social benefits and returns.
The team will offer investments that focus on promoting equality, expanding opportunities and improving outcomes for underrepresented or marginalized groups, the Zurich-based bank's wealth management unit said Thursday.
The inclusive investing group, led by Karen Sunderam, will offer ways for clients to steer their money toward asset-management firms that are partly owned by minorities and products led by portfolio managers that self-identify as such, including women, racial or ethnic minorities, veterans, people with disabilities and LGBTQ individuals.
Wealth managers like UBS are seeing growing demand among clients for investment choices that align with personal values and social good. Firms are responding with products tailored for environmental, social and governance factors, fueling a boom in the ESG market, which Bloomberg Intelligence estimates will surpass $50 trillion by 2025.
