Paris-based Sycomore Asset Management has been granted the French government’s socially responsible investing label for a new fund, Sycomore Shared Growth.
It is the fifth fund of the firm to have been awarded the local public authorities’ distinction. Other funds labelled are Sycomore Sélection Responsable, Sycomore Sélection Crédit, Sycomore [email protected] and Sycomore Eco Solutions.
The Sycomore Shared Growth strategy currently manages assets just above €150m while Sycomore AM’s SRI strategies weigh almost €3 billion, accounting for 38% of the firm’s overall assets under management.
Two key factors are core to the Sycomore Shared Growth strategy: the positive societal impact of products and services as well as the responsible corporate citizenship.
Frédéric Ponchon, fund manager of Sycomore Shared Growth said: “We assess the societal impact of products and services by analysing a company’s turnover, business by business; this enables us to establish its degree of commitment to the Sustainable Development Goals (SDGs) or to a long-term societal challenge”.
“Our assessment of corporate citizenship is based on seven criteria such as business ethics and corporate tax responsibility, sustainability leadership, and the existence of a mission statement that serves a social purpose. Companies that have engaged on a mission combining economic profitability and a contribution to the common good enjoy a major competitive advantage” added Ponchon.
“Clients, employees and investors are also, and above all, citizens who expect companies to contribute to meeting major societal needs,” commented Sara Carvalho de Oliveira, ESG analyst.
Last October, Jean-Guillaume Peladan, head of Environmental Investments and Research, outlined Sycomore AM’s impact measuring method to InvestmentEurope.