First three European funds awarded LuxFLAG ESG label

 (Photo: Luxflag)

(Photo: Luxflag)

Nordea 1, SICAV - Emerging Stars Equity Fund, OFI Multiselect - Europe SRI Fund and Sparinvest SICAV Ethical Global Value are the first three European funds that have been awarded the new LuxFLAG ESG Label.

In addition, the LuxFLAG Microfinance Label has been granted to Symbiotics (SICAV) SEB Microfinance Fund II.

In May this year, LuxFLAG successfully launched the first European ESG Label that is granted to investment funds which meet specific criteria related to their respect of Environment, Social and Governance objectives. The Label is available to UCITS and AIFMD funds domiciled throughout Europe or in equivalent jurisdictions.

LuxFLAG today also announced that Mrs. Annemarie Arens has been appointed General Manager of the agency. Prior to joining LuxFLAG, Mrs. Arens was Head of Sales and a Member of the Management Committee at RBC Investor Services Bank S.A. in Luxembourg.

Over the coming years, LuxFLAG's objectives are to raise its market position and volume of activity while continuing its commitment to high-quality standards.

Thomas Seale, Chairman of LuxFLAG, said: "LuxFLAG, as a European Labelling Agency, plays an important role in responsible investing. We see strong growth over the coming years in our three existing labels: Microfinance, Environment and ESG. Annemarie, with her 25 years of experience in the European Funds industry, will be a strong addition to the LuxFLAG team."

The list of the forty labelled funds and information about the thirty three Associate Members of LuxFLAG is available on LuxFLAG's website. The website also refers to the LuxFLAG Labels' Eligibility Criteria and contains the application form that can be downloaded by applicant investment funds wishing to apply for the LuxFLAG Labels.