FRANCE: AMF Publishes a New Inventory of Practices in Collective Management

Friday December 8 2017

To help investors differentiate SRI funds more easily from more conventional management, the AMF is highlighting new best practices for asset management companies. Among those :

• Publish votes in general meetings of the main companies in the portfolio;
• Publish a report on the dialogue with the portfolio companies;
• Publish the inventory of portfolio securities on the website.

The AMF also recommends that SRI funds marketed to individual investors take steps to obtain the SRI Public Label (created in January 2016). To date, 119 funds marketed in France have been labelled SRI.

The 2017 edition of the SMA report of the AMF was also the occasion for a first assessment of the implementation of the obligations stemming from the energy transition law for green growth. It provides that, no later than June 30, 2017, management companies and institutional investors must accurately report the integration of environmental, social and governance criteria into their investment policy. The law also requires management companies with funds of more than € 500 million to disclose their exposure to climate risks and their contribution to the achievement of energy transition objectives.

The AMF has found that 68% of the management companies have actually published a report and that 38% of the players, representing 78.5% of the assets under management (nearly € 3 trillion), actually included ESG criteria in their report. investment policy.

To make the information more readable and accessible, the AMF recommends that it be published in one document, easily accessible on the website of the management company and in French when the management company addresses itself to non-professional investors.

Please click on the above link for more information.