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Deutsche Bank unit launches ESG money market fund in US

German asset manager DWS Group GmbH & Co. KGaA has launched DWS ESG Liquidity Fund, a money market fund that applies environmental, social and governance criteria.

The fund will invest in high-quality, short-term, U.S. dollar-denominated money market instruments. It will buy U.S. government debt obligations, money market instruments and other debt obligations that has minimal credit risks.

The fund's security selection process will also evaluate companies based on ESG criteria, including level of involvement in controversial sectors and weapons, adherence to corporate governance principles, ESG performance relative to peers, and efforts to meet the United Nations' sustainable development goals.

DWS Group is majority-owned by Deutsche Bank AG.