Tareno, an independent Swiss asset manager, has agreed to buy Vontobel’s sustainable water fund. It will merge the fund with one of its own investment vehicles.
Vontobel, the Zurich-based private bank, sold its «Vontobel Fund II – Sustainable Water» to Tareno as of September 1, 2019. The transfer of the investment fund comes as Vontobel is streamlining its product range, Tareno said in a statement on Tuesday.
Tareno has a longstanding track record in water-related investments, making it the ideal candidate to continue the business. It will merge the Vontobel fund with its own «Tareno Global Water Solutions Fund» and thereby increase the volume of assets managed by the fund to 140 million euros ($156 million) from 90 million.
The independent asset manager launched the water fund in 2007 is a pioneer in water investments.
