La Financière de l'Echiquier converts SRI fund into Sicav
As announced last July, French asset management boutique La Financière de l’Echiquier (LFDE) has turned its Echiquier ISR fund into a French socially responsible investing Sicav Echiquier Positive Impact.
The manager said the choice of the French Sicav was deliberate as it aims to implement strong governance practices. Three of the four directors of the Echiquier Positive Impact Sicav are independent, LFDE said.
The Echiquier Positive Impact fund tallied almost €25m of assets under management as of 20 October 2017 and invests in European stocks standing out of the crowd by good ESG practices and bringing solutions to tackle sustainable development issues.
As an SRI Sicav, it will target to achieve some of the sustainable development goals set by the United Nations and part of the management fees will be reversed to the manager’s foundation acting for education and professional integration.
Didier Le Menestrel, chairman and CEO of LFDE, said the French Sicav was opening new perspectives for other parts of the firm’s asset management. LFDE has around €8bn in assets under management.
More to read about French Sicavs here.
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