Castlefield Investment Partners has launched an ethical European equity fund for former Citywire AAA-rated Rory Hammerson.

The Manchester-based investment manager’s B.E.S.T Sustainable European fund has opened its doors and will be run by Hammerson, who has recently joined the firm.

Hammerson has a strong pedigree of running European focused funds. While at Scottish Widows Investment Partnership (SWIP) he oversaw its European exposure as head of pan-European small and mid cap companies.

He then moved on to Kempen Capital Management, where he managed its Kempen Sustainable Smallcap fund. Hammerson later became chief executive officer of Kempen Capital Management in the UK, before leaving in 2016.

The new fund will sit alongside its existing range which also includes the B.E.S.T. Income fund. B.E.S.T. stands for business and financial; environment and ecological; social; and transparency and governance.

This launch is the latest in what is fast becoming an industry-wide trend with a lot of firms scrambling to launch environmental, social and governance (ESG) products.

Earlier this week, M&G Investments launched an ESG global high yield strategy and the trend has also seen Fundsmith founder Terry Smith launch a sustainable global equity fund.