Redwheel closes climate engagement fund

Redwheel has confirmed its decision to close its Global Climate Engagement fund due to a lack of investor demand.

The product was brought to market in 2024 under the management of John Teahan (pictured), and currently has $0.8m in assets under management (AUM), according to the group. The Article 8 fund was also supported by the firm’s sustainability research arm, Greenwheel, and was designed to engage companies on aligning with the Paris Agreement in order to deliver real-world impact.

See also: Green Dream with Redwheel’s Teahan: Understanding companies’ net-zero limitations

A statement said: “We periodically review our fund range and may close funds when we see lack of investor demand. John Teahan, who managed the fund, will continue to lead engagement for the broader Redwheel Global Intrinsic Value team, who manage over $7.5bn across their product range.

“We continue to have a range of sustainable and thematic strategies but have refined this to reflect where we believe we can scale strategies that meet our clients’ needs effectively.”

Teahan also continues to run the firm’s UK Climate Engagement fund.

This article first appeared in Portfolio Adviser.