Luxembourg: LuxFLAG Confirms Growth in Assets Labelled
Luxembourg, June, 21 2013 -
LuxFLAG, the fund labelling agency based in Luxembourg, says its Microfinance and Environment labels respectively have grown to cover assets of £3.95bn and $907m as of 20 June.
LuxFLAG's Annual General Meeting confirmed the the Microfinance label now applies to 26 investment vehicles, including two that are US domiciled.
Regarding the Environment label, there are now nine funds approved, including one French domiciled fund. The Environment label is available for Luxembourg and foreign investment funds that invest at least 75% of their assets in environment-related sectors and businesses.
LuxFLAG also confirmed that its Associate Membership network now has 36 members participating in its committees, conferences and communications. The organisation has noted that commitment of Luxembourg as a jurisdiction to develop itself as a leader in the SRI sector.
Thomas Seale, chairman of LuxFLAG, said: "The LuxFLAG Microfinance and Environment Labels help investment funds attract private and public capital into worthy responsible investment projects. Our Agency is making progress against our goals of deepening the usage of the two existing labels and in designing new labels for the future."