Asset Managers

European authorities are speeding up negotiations on the final text of the so-called Corporate Sustainability Due Diligence Directive (CSDDD, also known as the CS3D). Before the end of this year, the European Commission, the European Parliament and the European Council want to reach an agreement on it.

Ethenea has received approval from Luxembourg regulator CSSF to remove equities, precious metals and commodities from its Ethna-Defensiv multi-asset portfolio, transforming the fund into a pure bond strategy.

Of the 280 million euro in the fund, which had had a multi-asset portfolio since 2007, 14 percent is currently invested in European government bonds, 80.5 per cent in high-quality corporate bonds and 5 per cent in high-yield bonds.

Amidst the ongoing transition to a new pension system in the Netherlands, Dutch pension fund managers are finding little bandwidth these days to explore fresh investment ideas for the coming year. Against this backdrop, asset managers face hurdles in gaining their attention, with only essential risk management being the focal point for many.

Amundi, Europe’s biggest asset manager, has informed investors that it is moving seven of its ESG funds out of Luxembourg to consolidate them with new umbrella ESG funds that it has created in Ireland. The move is aimed to achieve “a greater degree of operational efficiency,” the Paris-based firm said.

Investors in Ucits investments funds like those based in Luxembourg are paying about 1/5 less in operational charges after a decade-long reduction in such fees, according to a report by ICI Global, an association representing regulated investment funds. “Asset managers are responding to investors tastes by developing products that investors want.”

Which public companies do the best rated fund managers want in their portfolios? Researchers at London-based data analysis firm Citywire on Monday released a new data set that shows in which equities the world’s portfolio managers prefer to invest with the highest degree of conviction.

The Financial Conduct Authority (FCA), the UK’s financial supervisor, plans to introduce a new overseas funds regime in April next year, as part of Britain’s post-Brexit framework for authorising non-UK investment funds to reach British investors. It plans a consultation before the regime takes effect.

Companies that help prevent CO2 emissions play a crucial role in the transition to a low-carbon economy. They unfairly remain under the radar of investors, argues Raj Shant, managing director at Jennison Associates, in an interview with Investment Officer.

Global investors are increasingly favouring businesses with localised supply chains in response to geopolitical uncertainty and inflation, according to the Schroders Institutional Investor Study for 2023.

This week’s overview of transfers, appointments and promotions includes updates from Fidelity, KPMG Luxembourg, Kneip, Creutz & Partners and Allen & Overy.