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abrdn aligns flagship €1.9bn fund to Article 8

Forestabrdn has converted its flagship €1.9 billion Asia Pacific Equity fund and two other strategies to Article 8 under the Sustainable Finance Disclosure Regulation (SFDR).

The two other funds are the €481 million North American Smaller Companies fund and the €229 million Global Innovation Equity fund, both of which will be converted from 1 August.

The Asia Pacific Equity fund will be renamed the Asia Pacific Sustainable Equity fund as a result of the conversion.

The conversions are part of the company’s enhancement of its sustainable investment process as it continues to expand its sustainable products.

abrdn’s updated framework will widen the screening process and remove poorly rated ESG companies from the investment pool.

Furthermore, the funds will now have specific ESG targets and a lower carbon intensity than their benchmarks.

Devan Kaloo, global head of public markets, abrdn, said: “We’re pleased to continue the evolution of our Sustainable Investment products as we expand our range in line with client demand.

“The Sustainable Investment range applies positive tilt to strong or improving sustainability factors, offering investors further opportunities to invest in a more sustainable world.”

These three conversions follow the conversion of 24 abrdn SICAV funds to Article 8 in April this year, including 18 equity funds and 6 fixed income.

At the time, the conversions doubled abrdn’s responsible investing-related SICAV AUM to €15.5 billion with abrdn stating it was the first phase of several planned conversions throughout the year.

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