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More funds added on SFC’s ESG product list

Products managed by Allianz GI, Fidelity and UBS AM have been recognised by the regulator to comply with ESG disclosure requirements.

Editor’s note: This article was first published on ESG Clarity Asia.

First published in December 2019 by Hong Kong’s Securities and Futures Commission, the list of ESG-approved funds includes products that meet new ESG disclosure requirements aimed at countering greenwashing.

These disclosure requirements include the fund’s key investment focus, ESG analysis and evaluation methodologies and what the firm believes to be relevant “green” or ESG criteria. The requirements were set out by the regulator in April 2019.

Since ESG Clarity Asia’s last update in October, five more funds have been added on the list.

UBS Asset Management has become the latest firm to join the list with two funds: the UBS (Lux) Equity Fund – European Opportunity Sustainable and the UBS (Lux) Equity Fund – Emerging Markets Sustainable Leaders funds, according to data from the Securities and Futures Commission.

Just recently, UBS reported that its asset management business saw its ESG AUM grow significantly last year. Its sustainable investing-focused AUM doubled to $97bn globally in 2020, with assets of its climate aware strategies reaching $15bn.

Meanwhile, two more Fidelity funds were approved by the regulator to be on the ESG list, which are the Sustainable Eurozone Equity Fund and the Sustainable Water and Waste Fund.

Incepted in 2018, Fidelity’s Sustainable Water and Waste Fund was approved by the SFC to be launched to retail investors in Hong Kong in December, according to the regulator’s records. The firm also brought the strategy to retail investors in Singapore earlier that year.

In total, the firm has three ESG funds recognised by the SFC – the other being the Sustainable Strategic Bond Fund.

Allianz Global Investors’ Food Security Fund has also been added. The firm now boasts with six SFC-approved ESG funds.

Since its launch, the number of ESG products approved by the Hong Kong regulator has grown to 39 from 21.

Funds passing the SFC’s ESG disclosure filter

Source: SFC *Funds added since October 2020

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