How to respond to the quest for meaning of our private clients willing to delegate their management to us?
Why does SG 29 Haussmann believe in the importance of reconciling financial performance and ESG commitments(1)? What solutions does it offer to private clients seeking a discretionary management that reconciles financial performance and meaning?
The SRI shift
Committed to a more responsible economy, Societe Generale Private Banking's management company, SG 29 Haussmann(2) has made a profound transformation towards SRI(3) management in less than two years. Concerned with making the assets entrusted to us by our private clients grow, its managers of seek, first and foremost, to minimise the risks associated with their investment choices. Beyond financial criteria, the integration of ESG criteria specific to each company's ecosystem allows for a more detailed analysis of the structural challenges facing companies and their ability to rebound from both endogenous and exogenous factors. For SG 29 Haussmann, taking into account strict governance criteria has always been a matter of course; taking into account environmental and social issues has now become a must in the analysis of companies. "A company that is committed to sustainable development issues should be better positioned tomorrow to seize the opportunities of an economy in transition. Less exposed to ESG risks, it could be better valued than those that choose not to evolve," explains Valéry Nkake, Investment Director of SG 29 Haussmann. These convictions have been validated by the growing interest of the private bank's clients in combining the search for performance and the quest for meaning in the management of their assets.
Discretionary management incorporating sustainable development criteria
To meet the needs of our clients who wish to delegate their management and who also wish to integrate sustainable development issues into their investments, we have designed "29 Haussmann Signature ISR", a new discretionary management solution that responds to their quest for meaning, with the management teams of SG 29 Haussmann. The first discretionary management solution in France to be awarded the French government's SRI label (“Label ISR de l’Etat Français”), it covers most asset classes, geographical areas, capitalisation segments and investment themes. It benefits from the management company's allocation expertise and provides access to recognised SRI investment solutions through its conviction management teams, as well as from major asset management companies such as Mirova, DNCA and La Financière de l'Echiquier, Amundi or Blackrock(4).
SG 29 Haussmann's ambition is to integrate ESG criteria into all of its management activities, with the aim of opting for the most demanding standards in this area, notably those of the French government's SRI label. Today, more than 85% of the management company's collective funds have been awarded the SRI label, i.e. more than 17 funds. A total of €3 billion is now managed according to an SRI approach(5).
(1) ESG criteria = Environmental, Social and Governance criteria
(2) Approved by the Autorité des Marchés Financiers in 2007, SG 29 Haussmann, a subsidiary of the Société Générale Group, is the portfolio management company dedicated to managing the assets of Société Générale Private Banking France's clients.
(3) SRI = Socially Responsible Investment
(4) Amundi Asset Management Société par actions simplifiée (SAS) with a capital of 1 086 262 605 euros, registered in the Paris Trade and Companies Register under no. 437 574 452, whose registered office is at 90, boulevard Pasteur - 75015 Paris, approved as a portfolio management company under no. GP 04000036 by the Autorité des Marchés Financiers (AMF - 17 place de la Bourse, 75082 Paris Cedex 12), and an insurance broker registered with the ORIAS under no. 16006295
BlackRock is a registered trademark of BlackRock, Inc. and its subsidiaries ("BlackRock") and is used under license. BlackRock makes no representation or warranty regarding the advisability of investing in any product or the use of any service offered by Société Générale. BlackRock has no obligation or liability in connection with the operation, marketing, trading or sale of any product or service offered by Société Générale. BlackRock (Netherlands) B.V. is a company registered in the Netherlands under number 17068311. Registered office: Amstelplein 1, 1096 HA, Amsterdam.
DNCA Finance is a limited partnership (SCS) with a share capital of 1 634 319,43 Euros, having its registered office at 19, place Vendôme 75001 Paris. DNCA FINANCE is registered with the Paris Trade and Companies Register under number B 432 518 041 and has been approved as a portfolio management company by the Autorité des Marchés Financiers under number GP 000-30 since 18/08/2000. Non-independent investment advisor within the meaning of the MIFID II Directive.
Mirova 210,845,72314, registered in the Paris Trade and Companies Register under number 394 648 216, with its registered office at 59 avenue Pierre Mendès France, 75013 Paris. Mirova is a portfolio management company approved by the Autorité des marchés financiers under number GP 02014, dated August 26, 2002.
La Financière de l'Echiquier 90,285,10 105 300, having its registered office at 53, avenue d'Iena, 75116 PARIS. La Financière de l'Echiquier, registered under number 352 045 454 in the Paris Trade and Companies Register, is approved as a portfolio management company by the AMF (Autorité des Marchés Financiers) under number GP 91-004, and is governed by the UCITS Directive 2009/65/EC.
Lyxor Asset Management (LAM) is a simplified joint stock company with a capital of 123 813 175 Euros, registered with the Nanterre Trade and Companies Register under the unique identification number 418 862 215 and the APE number: 652E. Registered office: Tours Société Générale, 17 cours Valmy, 92800 Puteaux. Intra-community VAT number: FR 604 1886 2215.
(5) Source: SG 29 Haussmann as at 30/07/2021
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Societe Generale Group maintains an effective administrative organization that takes all necessary measures to identify, control and manage conflicts of interest. To this end, Societe Generale Private Banking France and SG29 Haussmann have put in place a conflict of interest management policy to manage and prevent conflicts of interest. For more details, clients of Société Générale Private Banking France and SG29 Haussmann can refer to the conflict of interest policies available on request from their private banker.
Societe Generale Private Banking France and SG29 Haussmann have also put in place a policy for handling complaints from their clients, which is available on request from their private banker or on the Societe Generale Private Banking France website.
This document is issued by (i) Société Générale, a French bank authorised and supervised by the Autorité de Contrôle Prudentiel et de Résolution, located at 4 Place de Budapest, 75436 Paris Cedex 09, under the prudential supervision of the European Central Bank ("ECB") and registered with the ORIAS as an insurance intermediary under the number 07 022 493, orias.fr Societe Generale is a French société anonyme with a capital of EUR 1 066 714 367,50 as at 1 August 2019, whose registered office is located at 29 boulevard Haussmann, 75009 Paris, and whose unique identification number is 552 120 222 R.C.S. Paris, and by (ii) SG29 Haussmann, a management company approved by the Autorité des Marchés Financiers under the number GP 06000029, S.A. S with a capital of 2.000.000 €, having its head office in PARIS, 29 Boulevard Haussmann, registered in the PARIS Trade and Companies Register under the number B 450 777 008.
Further details are available on request or at www.privatebanking.societegenerale.com/ and https://SG 29haussmann.societegenerale.com.fr/fr/.