Octopus Climate Change Fund
Our environmental solutions and leaders fund.
At a glance
Our Climate Change fund invests in companies from around the world that are providing solutions for climate change and adopt best environmental practice, aiming for higher returns in the long term.
This fund has some sustainability characteristics which are important to the fund. Sustainable investment labels help UK investors help UK investors find funds that have a specific sustainability goal and meet high standards. This fund doesn’t have a UK sustainable investment label because it doesn’t meet the standards for having a label.
Highlights
- Responsible
- Invests in companies aiming to positively contribute to addressing our effect on the climate and the environment.
- Doesn’t invest in companies with material revenues from tobacco, fossil fuels, controversial weapons or that don’t comply with global standards.
- Aims for higher growth
Higher potential to grow your money in the longer term, but with greater ups and downs in value (risk) compared to global equity funds which invest in a greater number of companies, across more market sectors.
- All done for you
Managed for you by our dedicated team of investment experts. All in one neatly packaged approach.
How is your money invested?
The fund invests in the shares of companies from around the world which are hand-picked by the Investment Adviser.
Specifically, for their return potential and either the environmental solutions they aim to provide or leadership in their industry.
Our experts review this mix regularly considering the economic outlook for each geographic region.
Which regions?
The following is up-to-date as of 30 June 2025
| Amount invested | Region |
|---|---|
| 66% | North America |
| 18% | Europe (excluding UK) |
| 10% | UK |
| 6% | Asia Pacific |
Typical Mix
Up to 20%
invested in companies that are environmental leaders in their industry
80% or more
invested in solution providers that support the transition to a low-carbon economy
Remember, the value of investments can go up and down, so you may get back less money than you put in. Tax depends on your individual circumstances and the regulations may change in the future.
Where your money’s invested
Investing in companies from around the world that are contributing solutions to help climate change and environmental leaders.
Here’s the detail at 30 September 2025.
Lower risk
0% Cash
0% Short maturity bonds
0% UK Government bonds (Gilts)
0% Global Government bonds
0% UK corporate bonds
0% Global corporate bonds
Higher risk
6% Shares (emerging market)
10% Shares (UK)
5% Real estate investment trusts
79% Shares (overseas developed)
0% Bonds (emerging markets)
0% Bonds (high yield)
What do these terms mean?
Bonds: These are like IOUs, used by companies and governments to raise money. The buyer effectively lends money to the seller, in return for interest on their investment over a set amount of time. When that time’s up, the value is paid back.
Gilts: These are just a type of bond. But instead of lending money to a company, it’s lent to the UK Government.
Shares: A share is a tiny bit of a company. Share owners are called shareholders. If a company does well, shareholders are rewarded with a proportion of the profits, paid out as dividends. The value of shares rises and falls according to the company’s performance, and other factors.
Real estate investment trusts (REITs): These are pools of money gathered by a company from investors. They’re used to buy, manage or invest in property and land (real estate) to generate income – a way of investing in commercial property without needing millions.
How the fund invests
Explore the top 10 companies this funds invests in, and why.
This list is up-to-date as of 30 September 2025, and ordered by percentage holding, from highest to lowest.
Microsoft Corporation
Percentage holding: 7.2%
Company type: Leader
Microsoft is cutting its environmental footprint through efficient cloud infrastructure that reduces hardware, energy use, and emissions. It has committed to becoming carbon negative by 2030, removing more carbon than it emits. Through its $1 billion Climate Innovation Fund, Microsoft is also scaling next-generation carbon removal solutions.
Nvidia Corporation
Percentage holding: 6.2%
Company type: Solution Provider
NVIDIA has a transformative role in enabling energy-efficient technologies, driving sustainable innovation, and supporting global decarbonization efforts. Its GPUs are central to AI and high-performance computing, offering over 50x energy efficiency compared to traditional CPUs for AI workloads, which significantly reduces data centre emissions. The company powers the most energy-efficient supercomputer on the Green500 list and has committed to 100% renewable electricity across its global operations. NVIDIA’s Earth-2 initiative uses generative AI to simulate climate models, aiding climate science and resilience planning.
SSE Plc
Percentage holding: 3.6%
Company type: Solution Provider
SSE is driving the UK’s clean energy transition, with over 80% of capital spend going into grids, renewables, and efficiency. It’s building more offshore wind than any other company worldwide, set to deliver over 25% of the UK’s offshore wind target. SSE is also investing in critical grid infrastructure, boosting resilience and supporting net zero goals.
AstraZenaca Plc
Percentage holding: 3.6%
Company type: Leader
AstraZeneca aims to be carbon neutral by 2025, and carbon negative by 2030. They’re investing up to $1 billion in clean energy, green chemistry and sustainable innovation. As a climate leader in pharma, they’re embedding sustainability into its core strategy and research and development.
Taiwan Semiconductor
Percentage holding: 3.5%
Company type: Solution Provider
Taiwan Semiconductor Manufacturing Company (TSMC) is the world’s largest dedicated semiconductor foundry, making chips designed by others. Its advanced production enables higher chip density and lower power use, boosting efficiency. By improving semiconductors, TSMC helps cut energy consumption in data centres, AI, and other technologies.
Advanced Drainage
Percentage holding: 3.3%
Company type: Solution Provider
As the second-largest plastic recycler in North America, Advanced Drainage Systems (WMS) demonstrates a compelling circular economy strategy. By integrating recycled materials into its pipe manufacturing, the company diverts over 510 million pounds of plastic from landfills annually, resulting in virtually zero waste and positioning itself as a net positive recycler. Its core products—primarily pipes—have long displaced more environmentally harmful alternatives such as reinforced concrete and PVC, helping to avoid 304,000 tonnes of greenhouse gas emissions. With a product portfolio designed around majority recycled content, a mission to protect water resources, and a proven ability to quantify environmental impact.
Broadcom
Percentage holding: 3.2%
Company type: Solution Provider
Broadcom is a global technology leader whose products play a vital role in enabling sustainable digital infrastructure. It designs and manufactures semiconductors and software that power data centres, broadband networks, and enterprise systems—technologies that support energy-efficient connectivity and low-carbon digital transformation. Broadcom’s products include network modules, fibre optics, and wireless access points enabling efficient digital connectivity, which supports low carbon economic growth.
Trane Technologies
Percentage holding: 3.2%
Company type: Solution Provider
Trane is driving smart building innovation with energy-efficient heating, ventilation, and air conditioning (HVAC) and low-emission technologies. Its 2030 and 2050 climate goals guide research and development across operations, product use, and lifecycle impact. In 2024, Trane launched 190 new products to help cut 1 billion metric tons of customer emissions by 2030.
Autodesk Inc
Percentage holding: 3.1%
Company type: Solution Provider
Autodesk’s design software helps construction and manufacturing projects optimise resources and cut waste. By integrating digital tools early, it reduces material use and boosts efficiency. Its solutions support more sustainable building, tackling the 30% of materials typically wasted on sites.
Tetra Tech Inc
Percentage holding: 3.1%
Company type: Solution Provider
Tetra Tech is a glabl consulting firm leading projects in clean water, environmental restoration, and diisaster resilience. Its work supports biodiversity, nature-based solutions, and climate-adapted infrastructure. From water supply to sustainable buildings, Tetra Tech helps build a more resilient future.
What you could have earned already
The table below illustrates the annualised total returns of the fund for the period shown, compared with its benchmark. Remember, past performance isn’t a reliable guide to future performance.
The following is up-to-date as of 30 September 2025.
| September 2020 to September 2021 | September 2021 to September 2022 | September 2022 to September 2023 | September 2023 to September 2024 | September 2024 to September 2025 | |
|---|---|---|---|---|---|
| This fund | 19.2% | -9.8% | -1.9% | 15.1% | -0.8% |
| Benchmark* | 26.9% | -7.3% | 10.5% | 19.9% | 16.8% |
*The fund aims to beat the performance of its benchmark (MSCI All Countries World GBP – a measure of global share market returns), after charges, measured over periods of three years or more. The fund changed its investment strategy and benchmark on 26 July 2022. Performance shown up until that date relates to the previous strategy and benchmark
The ongoing charge changed from 1.00% to 0.70% on 6 January 2024. The performance shown is based on the current annual charge, with adjustments made to prior years to reflect the current charging structure for this fund.
Source: Lipper, total return (income invested)
Non financial performance
The 2025 annual sustainability review looks at progress made in efforts to address climate change by companies the fund is invested in. It includes a measurement of change across the entire fund, as well as specific, in-depth examples at a company level.
Key information
Before investing please make sure you’ve read the following:
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