Major milestone in terms of Socially Responsible Investment
This label rewards Societe Generale 29 Haussmann's proactive approach in response to its clients' expectations with regard to sustainable development issues.
Launched on 4 April, 2001, this European equity fund favours active conviction management. Consistent with the Societe Generale group's commitments, this approach is based on a two-stage management process that excludes certain sectors and incorporates Environmental, Social and Governance (ESG) criteria in its investment decisions.
"We believe that taking sustainable development issues into account reconciles performance and meaning", explains Daniele Spada, CEO of Societe Generale 29 Haussmann.
"Obtaining this label is the result of in-depth work and reaffirms our intention of continuing and increasing our commitment to a more responsible economy", adds Clotilde Jacob-Mattera, Key Accounts Director, Senior Portfolio Manager responsible for the "29 Haussmann Sélection Europe" fund.
The first step is to exclude companies that are involved in controversial activities and those that do not comply with the guidelines of the United Nations Global Compact regarding human rights, labour, the environment and anti-corruption.
The second step is to incorporate ESG criteria, and aims to select the most virtuous companies in their sectors or those who are gradually improving their practices.
The fund, which has assets of 427 million euros, has recorded a net performance of +20.44%** since the start of the year.
(*) The SRI label was launched by the French Ministry of the Economy and Finance in August 2016. It is the result of a strict labelling process undertaken by two independent bodies (Afnor Certification and EY France). Its goal is to increase the visibility of SRI products among savers whilst ensuring that their management is based on solid methodologies with a demand for a high level of transparency and quality information. For further information about the SRI label, please go to lelabelisr.fr/en
(**) Data as of 29 November, 2019 - Part D, ISIN: FR0007057443