Some of the most compelling stories in responsible investing are found not in policy papers but in the outcomes reached by real people. This is one of them.

Nuveen, the underlying fund manager of the Trust Management ESG International Bond Fund, has invested in four of the five series of the Women's Livelihood Bond, the world's first labelled “orange” bond. An Orange Bond is a “purpose-driven” bond that channels capital towards improving outcomes for women and girls, combining investment returns with measurable social impact. These investments form part of the investment portfolio of the Trust Management ESG International Bond Fund.

The Women’s Livelihood Bond was designed with a clear purpose: to help women across South East Asia access affordable credit, savings and insurance, agricultural inputs, and clean and affordable energy. Capital is provided up front, giving women the means to fund income generating assets and build skills, supporting a transition from subsistence to sustainable livelihoods.

Impact outcome

As at the end of 2022, the bond series had contributed to the following outcomes:

• 37,550 women entrepreneurs provided with loans
• 13,013 women provided with access to clean energy and energy efficient solutions, including solar rooftop panels and clean cooking stoves
• 1,660 women smallholder farmers receiving agricultural loans

As at 31 August 2026. Investment holdings are subject to change at any time.

These outcomes span Cambodia, India, Indonesia, the Philippines, Kenya and Sri Lanka.

Why this matters

Investing with a purpose does not mean setting aside financial discipline. It means looking for opportunities where both investment returns and genuine, measurable outcomes for communities can sit side by side.

The Women's Livelihood Bond is a clear example of what that looks like in practice, channelling fixed income capital toward economic participation and resilience for women who might otherwise be excluded from formal credit and energy access.

Nuveen's role as underlying fund manager of the Trust Investment ESG International Bond Fund reflects a broader, global approach to impact aligned fixed income investing. We will continue to share examples like this one as we see them, because outcomes like these are worth telling.

Prepared by Trust Investments Management Limited (Trust Investments). This article draws on information published by Nuveen and is general information only. It is not financial advice and does not take into account the objectives, financial situation or needs of any particular person. Past outcomes are not an indication of future results.