Amundi downgrades €45bn of Article 9 funds

'Evolving regulatory environment'

Amundi has reclassified almost all of its sustainability range of Article 9 funds into Article 8, in a move it attributed to “evolving regulatory environment”.

As of the end of September 2022, Amundi managed approximately 100 SFDR Article 9 open funds with around €45bn in assets under management, roughly evenly split between ETFs and active management. Most of these will now be classified as Article 8 funds. The European fund manager is the latest to downgrade some of its sustainable funds, joining BlackRock, Axa, Invesco, NN Investment Partners, Pimco, Neuberger Berman, Robeco and Deka. Invesco strengthens ESG criteria for corporate bond and emerging markets ETFs Amundi said in a statement the move was a "conservative approach" in respon...