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.