The Bank of Bermuda is doing its bit for the environment by joining in with the launch of HSBC's innovative new Climate Change fund.

The HSBC GIF Climate Change fund will invest in companies that are considered best placed to benefit from addressing, combatting and developing solutions to the challenges presented by climate change.

It covers a broad range of industries and businesses, including those involved in low carbon energy production, energy efficiency and energy management, and water, waste and pollution control.

The fund has been developed to provide a timely, comprehensive and practical solution for investors looking to participate in this global theme. This follows the launch of the HSBC Global Climate Change index at the end of September, with the aim of reflecting and tracking the stock market performance of 300 identified companies that are best placed to profit from the challenges presented by climate change.

The HSBC GIF Climate Change Fund will be managed by SINOPIA, the active quantitative specialist of the HSBC Group, and will aim to outperform the HSBC Global Climate Change index. SINOPIA will use its active quant stock selection models to score stocks in the index based on a number of criteria including relative valuation, earnings momentum, price volatility and econometric analysis.

Based on this scoring, and prevailing stock liquidity and market capitalisation, the fund will invest in around 60 companies that are considered most promising in terms of expected returns.

Guillermo Konecny, head of HSBC Investments Bermuda, said: "Increasingly climate change is at the top of the agenda for governments, industry, commerce and the public as pressure mounts to curb the way we indirectly impact the environment. There are therefore, fast-growing opportunities for companies that successfully put climate-change issues on the corporate agenda."

Philip Butterfield, CEO at Bank of Bermuda said: "These funds are available in 35 countries worldwide and Bank of Bermuda is pleased to be able to bring this opportunity to the local market.

"We are optimistic that the Climate Change fund will capture the minds of investors who are looking for a broadly diversified, flexible, professionally managed and innovative fund that will complement their portfolio while improving the environment over the long term."

Potential investors are invited to come to the bank's investment centre on the ground floor of its head office on Front Street, Hamilton or contact 299-5900 for more information on the HSBC GIF Climate Change fund.