Lombard Odier Investment Management has reclassified nine Article 9 funds to Article 8, continuing a trend of asset managers downgrading their sustainable funds.
A spokesperson said that the firm has adopted "a conservative approach" to the interpretation of sustainable investment under SFDR, after the regulator "made it clear" that Article 9 funds to be fully composed of sustainable investments. This approach "may prevent the inclusion of more neutrally-positioned investments essential for diversification, or some investments that may make a positive contribution but that may still be in transition", the firm added. Lombard Odier targets carbon markets with new fund The change will have no impact on the strategies and the outcomes targeted...
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