Paris-based research centre Novethic has labelled a total of 120 funds, of which 113 are socially responsible investment funds and 7 are green funds.
In 2015, 38 companies have been awarded the Novethic SRI Label, including 27 French asset managers (71%). Other firms are based in Switzerland (10%), Netherlands (8%), United Kingdom (5%), Belgium (3%) and Austria (3%).
The breakdown per asset class is as follows : 73 equity funds (65%) , 24 bond funds (21%), 8 money market funds (7%), 8 diversified funds (7%).
Alongside five BNPP IP’s green equity funds and another one managed by Swiss firm Coninco, Novethic has awarded for the first time its Green Fund Label to a green bond fund managed by Natixis’ branch Mirova.
The Novethic Green Fund Label has since 2013 been awarded to funds financing companies that provide solutions to environmental issues such as energy transition and natural resources management.
The Mirova Green Bond – Global is a thematic international bond fund dedicated to the financing of environmental transition.
It is managed by Christopher Wigley who is backed by Mirova’s 11-responsible investment team.
Mirova’s bond fund relies on an active, conviction-based management whose main performance driver is selecting issues that have a double impact: financial and environmental.
This approach combines financial and non-financial views: analysis of each project financed, ESG (environmental, social and governance) analysis of the issuer carried out by Mirova, fundamental analysis to ascertain the bond’s financial attractiveness.
Novethic has announced it has been chosen to partner the Forum Nachhaltige Geldanlagen (FNG), the German SRI Forum, which has launched an SRI label for Switzerland, Austria and Germany during Summer 2015.
This label aims to promote SRI towards retail and institutional investors in these areas. First funds labelled by the FNG will be announced in Berlin in December 2015.
Managers will be awarded the FNG’s label only if they exclude from their portfolios companies involved in nuclear and weapons activities as well as those which are not applying the United Nations Global Compact principles.
Managers will be rated one to three stars depending of three factors : the assessment of the SRI management impact (70%), the quality of SRI research (20%), the institutional credibility of the manager (10%).