Merrill Lynch and Merrill Edge have unveiled five new portfolios that incorporate environmental, social and governance (ESG) factors.
The new CIO Core Impact Portfolios have been designed by the Global Wealth and Investment Management (GWIM) Chief Investment Office and will be available to investors for a minimum investment of $5,000.
The ESG portfolios mainly comprise exchange-traded funds (ETFs), including strategies ranging from conservative to aggressive.
GWIM CIO Chris Hyzy said: “The demand for ESG-integrated investment options has increased as more investors are seeking a ‘double bottom-line’ approach to investing and a way to add an environmental or societal impact objective to a financial return.”
The latest move aligns with Merrill parent Bank of America’s commitment to responsible growth across its eight lines of business. Bank of America’s investment operations managed over $16.2bn in client balances with an ESG approach at the end of March 2018.
GWIM vice chairman and Merrill Lynch and U.S. Trust head of the CIO and the investment solutions group Keith Banks said: “These new portfolios are part of the ongoing expansion of our investment offerings and build upon a broad platform of both solutions and thought leadership in the impact arena.”