LuxFLAG, the Luxembourg Finance Labelling Agency, has announced that sixteen funds have been granted the use of the LuxFLAG Label, bringing the new total to 354 investment products with €154,77 billion assets under management (AuM) as of 1 July 2021.
These products are domiciled in eleven jurisdictions, i.e. Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Monaco, the Netherlands, Luxembourg and Spain. The funds are managed in seventeen countries by 120 asset managers.
LuxFLAG has witnessed 74% growth in the number of labelled funds in the last twelve months and particularly 110% growth in ESG Labelled funds. The same % over 24 months is 160% and 333% respectively reflecting the strong growth in sustainable investing.
Sachin Vankalas, General Manager of LuxFLAG, commented: "The asset management industry is determined to play an active role in the sustainable transition of the economy, resulting in the significant growth of ESG funds over the past two years. The ever-growing demand for the LuxFLAG label affirms its relevance to investors while highlighting the sustainability credentials of the underlying investment products and we expect this trend to continue particularly with the application of Sustainable Finance Disclosure Regulation which became applicable in March 2021".