LuxFlag, the Luxembourg fund labelling agency, will celebrate the first 10 years of operations this year, highlighting its work to identify funds that meet sustainable and responsible investing requirements.
Its development comes alongside a push by the Luxembourg government and the local fund industry to encourage domiciliation of such funds in the Grand Duchy; it now claims a 35% market share of responsible investment funds in Europe.
Thomas Seale, chairman of LuxFlag, said: “As responsible investing is steadily gaining momentum, we are looking forward to the next decade as a promising opportunity to further raise commitment and transparency of sustainable finance in the industry.”
LuxFlag was created in 2006 as a non-profit association. Initially its focus was to offer labelling of microfinance investment vehicles, but it has broadedn its work to include labelling of environmental and ESG funds. Currently some 43 funds carry its label, representing more than €10.1bn of AUM.