Moventum Funds classified as Article 8 funds
Luxembourg, 15 September 2022 – An ever growing number of investors are focusing on sustainability in their investments. Among advisors, the demand for appropriate products is rapidly increasing. Now Moventum is able to serve this demand even better: The Moventum Plus Aktiv funds of funds are now classified as Article 8 funds under the Sustainable Finance Disclosure Regulation. In addition, a classification as “sustainable” within the meaning of the European Markets in Financial Instruments Directive (MiFID) is to be expected soon, just as for the portfolios of MoventumPlus Aktiv asset management. “It is important to offer ESG-compliant investments to advisors that also entail benefits in the long term”, said Andreas Pál, Senior Vice President & Head of Sales at Moventum S.C.A.
Moventum Asset Management adapted its standardised fund-based asset management and funds of funds to the criteria that justify their classification as sustainable products by the regulator. “It is already commonplace in the financial sector to include ESG issues – meaning the sustainability dimensions of Environmental, Social and Governance”, Pál pointed out. “We therefore consider effective management of ESG issues a necessity.”
And successfully so: According to a decision by the supervisory authorities, the Moventum Plus Aktiv SICAV funds of funds may now officially be referred to as “Article 8 funds” in accordance with the Sustainable Finance Disclosure Regulation (SFDR). The Regulation obligates companies in the financial services sector to transparently state how sustainable their products are, which is intended to prevent greenwashing.
The fund of funds complies with additional sustainability criteria, which should allow it to be classified as “sustainable” within the meaning of the European Financial Markets Directive (MiFID) as well. “In this respect, the work of Moventum Asset Management S.A. has been completed”, Pál added. “Only an auditor’s assessment is still pending.”
The sustainability steps implemented at the corporate level automatically affect the portfolios of MoventumPlus Aktiv asset management, which are congruent with those of the funds of funds, with the exception of the Private Wealth portfolio. “We are therefore confident that we will also obtain a sustainable classification for our portfolios ranging from Defensive to Offensive”, said Pál. Due to the lack of a fund universe, however, it will regrettably not be possible to classify the Private Wealth portfolio as a sustainable product in the foreseeable future.
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