Asset management funds within the European Union now face restrictions regarding what they can refer to as an ESG fund. Under the new guidelines, any investment product that carries the ESG acronym in its name, or any words to that effect, is required to have a minimum of 80% of its assets under management (“AUM”) in undertakings that are connected to social, governance and environmental objectives.
These new guidelines were issued by ESMA, the European Securities & Markets Authority. In a statement, ESMA pointed out that one of the first pieces of information that investors get about an investment fund is the name of that fund. The name can also have a sizeable impact on the investment…
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