Paris headquartered Amundi announced four of its strategies have been the first funds ever to be awarded the SRI label backed by the French government and launched earlier in 2016.
The four funds (Amundi Crédit Euro ISR, Amundi Actions Euro ISR, Amundi Actions Europe ISR, Amundi Actions USA ISR) have been analysed by Afnor Certification. The label is awarded for three years.
The SRI label was launched with another label, TEEC, granted by French authorities to investment funds supporting energy transition.
If French fund selectors welcomed both labels, they pointed out some issues about SRI funds that would not enter into the label’s scope.
Edmond Schaff, head of Fund Selection at SRI boutique Cedrus Asset Management, told InvestmentEurope “it might be possible that some asset managers are fully in line with the principles promoted by these labels but have chosen not to be candidates for the label for marketing or costs reasons – as could be the case for foreign asset managers.”
“We also consider that issues brought by energy transition remain global and companies operating solutions to address them can be located outside the EU,” he said.
Amundi recently crossed the €1trn cap in assets under management.