French investment firm La Financière de l’Echiquier (LFDE) has announced that its France-domiciled open-ended fund Echiquier ISR will be transformed into a French ESG Sicav, subject to regulatory approval.
The fund, launched in 2010, will be rebranded over the coming weeks as the Sicav will invest in European stocks issued by companies that stand out of the crowd in terms of ESG practices and whose business brings direct solutions to address sustainable development issues.
LFDE said the new Sicav will seek to contribute to the achievement of sustainable development goals set by the United Nations.
The Sicav will be managed by the manager’s SRI team led by Sonia Fasolo and will target companies that score the best according to LFDE’s ESG research.
Part of the Sicav’s management fees will be reversed to the foundation Financière de l’Echiquier that supports education and professional integration.
LFDE’s chairman and CEO Didier Le Menestrel said: “The SRI fund management of LFDE starts a new chapter: taking part to the financing of companies that have a proven positive impact on sustainable development in our societies.
“The sustainable development goals (of the United Nations) set a framework to institutions, companies and individuals. They form a new reading grid of firms for us as stock-pickers and provide new opportunities of engagement with companies we invest in.”
LFDE has over €8bn of assets under management.