- 3 min
Paris, 12 March 2010
Crédit Agricole Assurances and its Predica subsidiary adopted a social and environmental responsibility approach in early 2009. Today they are launching a range of socially responsible investment (SRI) products to go with the Floriane and Espace Liberté life insurance policies and the Eloquence Capitalisation capital redemption policy distributed by Crédit Agricole.
To meet the expectations of customers wishing to invest meaningfully by selecting socially and environmentally responsible products, Predica is launching an SRI offering that covers all aspects of responsible investing and features SRI funds with an environmental and a social focus.
Designed as part of a full-range development policy and to match the SRI range launched by Amundi in late 2009(1), the Floriane and Eloquence Capitalisation policies now offer four new vehicles in addition to two existing sustainable development funds, Atout Valeurs Durables and Amundi Actions USA ISR. The new vehicles are also included in the Espace Liberté policy, which already incorporates Amundi Actions Euro ISR.
The new offering comprises two theme funds:
- Amundi Funds Clean Planet, which selects companies operating in different areas of environmental protection
- Amundi Funds Aqua Global, which invests in the water value chain, selecting companies that improve the access to or quality of this precious resource. and two community funds:
- Amundi AFD2 Avenirs Durables, a diversified fund that earmarks 30 per cent of its portfolio for development assistance in the southern hemisphere and France's overseas territories
- Insertion Emplois Dynamique3 which invests between 5 and 10 per cent of its portfolio in French companies with good corporate citizenship credentials and non-profit organisations that are socially beneficial and create jobs.
The products unveiled today differentiate the product line-up and provide value-creation opportunities. Available at present on high-end policies, they will be extended gradually to all Predica's multi-fund policies in future. They form part of a market that is still young - it accounts for just 2.39 per cent of the French market - but highly dynamic.
Assets managed in SRI vehicles grew by 68 per cent between December 2008 and December 2009(4).
1 With €14 billion in SRI assets under management at 31/12/2009, Amundi leads the French SRI market 2 Agence Française de Développement / French Development Agency 3 Funds managed by Natixis AM 4 Source: Novethic