Affirmative Investment Management (AIM) is one of the world's first dedicated impact bond fund manager. By combining mainstream portfolio management with sustainability principles, AIM makes a positive social and environmental impact without compromising on returns.


Affirmative Investment Management (AIM) is a global fixed income manager focussed on delivering mainstream market returns with impact. AIM is one of the world’s first fund manager to dedicate their investment strategy to impact bonds (i.e. labelled and unlabelled green bonds, social bonds and sustainable bonds). AIM's innovative formula is a fusion of mainstream portfolio management and sustainability. This approach is new in the marketplace and draws on the experience of a team of leading experts in investment and sustainability, providing positive solutions to global challenges. AIM’s focus is to promote robust verification and reporting, along with active engagement, whilst ensuring repeatable performance and sustainable impact.

Established in 2014 by Stephen Fitzgerald and Stuart Kinnersley, AIM is 100% owned by its employees and headquartered in London, with offices in Washington and Sydney. AIM is comprised of like-minded investment professionals who are advocates for social and environmental change. The company was instrumental in the evolution of green bonds and has the longest track record in the impact bond market.

CFS’s alliance partnership with AIM gives Australian retail investors access to an innovative approach that fuses mainstream portfolio management and sustainability.

A trusted team of specialists

Impact Fixed Income 

Pioneers of green bonds, with the longest track record in the market.

Robust verification and 
reporting process

Maintains strong principles of integrity and transparency.

Expert team

Experienced team with strong 
investment credentials.

Investment approach

AIM’s investment approach embeds sustainability criteria at the core of its investment process, with an investable universe of impact bonds (including labelled and unlabelled green bonds, social bonds and sustainable bonds) that have passed an Environment, Social, Governance (ESG) and sustainability screen. The verification process is one of positive selection to identify and verify issues and issuers that deliver a meaningful and measurable impact. AIM invests in bonds that fulfil their sustainability criteria, which cover a broad range of factors such as credit worthiness of the issuer, environment/social benefits and ability to determine that proceeds are dedicated to positive impact.

AIM’s investment philosophy is based on three core commitments:

1. A focus on fixed income investments that generate a positive environmental impact and social benefit.
2. Fundamental fixed income discipline with no compromise on returns.
3. Transparent impact reporting that describes the expected and realised impacts from activities funded by bond proceeds.

Fixed income impact investing


Learn about the importance of fixed income impact investing and AIM's approach with Kate Temby and Katie House.


  1. What is fixed income impact investing?
  2. The role of fixed income on the road to net zero
  3. Appointing an impact or sustainable investment manager
  4. Measuring the impact of fixed income investments
  5. The future of sustainable investing
  6. How to accurately assess net zero plans
  7. Accurately report across asset classes, particularly impact investments
  8. Understanding and avoiding greenwashing


Affirmative Global Impact Bond Fund

A dedicated impact global fixed income fund that is strongly underpinned by environmental and social values, combined with mainstream portfolio management, to deliver financial returns for clients

Meet the team

Stephen Fitzgerald

Stephen Fitzgerald

  • Managing Partner
Justin Eeles

Justin Eeles

  • Head of Portfolio Management
Richard Petit

Richard Petit

  • Head of Credit
Kate Temby

Kate Temby

  • Head of Client Engagement
Steph Anthony

Steph Anthony

  • Partner, Client Engagement
Katie House

Katie House

  • Analyst, Sustainability
Nick Reid

Nick Reid

  • Analyst

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Information on this webpage is provided by Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 and Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468. It may include general advice but does not consider anyone’s individual objectives, financial situation, needs or tax circumstances. You should read the relevant Product Disclosure Statements (PDSs), Investor Directed Portfolio Service Guides (IDPS Guides) and Financial Services Guides (FSGs) before making any recommendations to a client. The PDSs, IDPS Guides and FSGs can be obtained from or by calling us on 13 18 36.