iShares ESG Global Bond Index Fund

BlackRock Investment Management has launched a new global bond fund - the iShares ESG Global Bond Index Fund - a passively managed, low-cost, income generating fund.

The fund's benchmark is the Bloomberg Barclays MSCI Global Aggregate SRI Select ex-Fossil Fuels index (AUD hedged), which also excludes treasury and government-related issuers with an MSCI ESG government rating below "BB".

"The fund excludes non-government securities associated with fossil fuels, alcohol, tobacco, gambling, adult entertainment, genetically modified organisms, military weapons, civilian firearms and nuclear power," BlackRock say in the fund's product disclosure statement.

It has a minimum investment of $500,000 and total management costs are 0.2 per cent per annum.