POLITICS & INSTITUTIONS - ECONOMY

100 new Luxflag fund labels



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A notable number of investment funds sought Luxflag certification during the second quarter, according to the organisation’s general manager. Pictured: Sachin Vankalas of Luxflag is seen speaking during Sustainable Investment Week, 22 October 2019. Photo credit: Patricia Pitsch/Maison Moderne 

Luxflag, the outfit that checks asset managers’ sustainable and responsible investment claims, said it had signed up 100 new investment funds to its verification scheme, bringing the total to 303 separate funds this week.

Assets under management at investment funds it reviews rose from €106.2bn at the end of the first quarter to €128bn as of 22 September, Luxflag announced on Wednesday.

95 new funds received Luxflag’s ESG fund label, including a large number managed by Danske Invest. The other funds were in microfinance, ESG and environmental categories.

Sachin Vankalas, Luxflag’s general manager, told Delano that the outfit started checking funds domiciled in three new jurisdictions, Denmark, Finland and Spain, bringing the total to 10 jurisdictions. Luxflag had already been certifying funds based in Belgium, France, Germany, Italy, Ireland, Luxembourg and the Netherlands.

Luxflag said its labels are valid for one year, after which time they need to be reviewed again.