Signage is shown outside Blackrock headquarters in New York, US. File photo BLOOMBERG/JEENAH MOON
Moufti said it’s hard to overstate the long-term risks tied to water scarcity. He also said that “more severe and frequent droughts and floods across the globe have highlighted” how urgent the threat is. Scientists predict that extreme weather events behind such disruptions will become more frequent and intense.The BlackRock fund that Moufti helped design — the iShares Global Water ETF —invests in everything from water utilities and pump manufacturers to companies that improve water efficiency. The top five holdings in the $2bn exchange traded fund include American Water Works Co, Xylem, Essential Utilities, Ferguson and Geberit.
So far this year, the BlackRock ETF has dropped 28%, slightly less than the S&P global water net total return index. The fund advanced at an annual rate of 8.3% over the past 10 years. In Europe, at least €100bn of investment is needed annually to upgrade water supply and water treatment across EU member states, according to a report by the Organisation of Economic Co-operation and Development .
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