Specialist investment boutique La Financière Responsable (LFR) – recently partly acquired by the Spanish insurance giant MAPFRE - has been cited as one of the top five boutiques for its approach to company analysis by ESG consultancy EthiFinance.
The accolade represents an important recognition by EthiFinance that excellence in ESG in France is not just confined to the large asset management groups such as Netaxis’ Mirova or Amundi, but can also be found in smaller boutique managers such as LFR. The new is also important for MAPFRE which is leaning on LFR’s expertise in ESG company evaluation to help it manage funds such as its recently launched ESG focused, ‘Capital Responsable’fund.
EthiFinance is one of France’s premier non-financial ESG consultancies. Founded in 2004, the consultancy has been assisting investors and companies in their strategic management of ESG risks. Its recent findings came from its study of 206 small to mid-sized asset managers from the 650 strong GECO database - which is published by the French regulator, the AMF.
EthiFinance used 23 different factors within three pillars and scored the managers out of 100. The highest results were given jointly to La Financière Responsable as well as Mandarine Gestion who both scored 90/100. These were closely followed by Trusteam Finance and Roche Brune.
LFR chairman, Olivier Johanet, responded to the news of recognition of LFR’s analytical approach to ESG saying, “We have always set out to be a specialist asset manager dedicated to applying rigorous analysis to the companies in which we invest, using strict ESG criteria. So, we are delighted to be cited alongside several prestigious names within the French asset management industry for the excellence of our work.
MAPFRE’s head of investment management, Jose Luis Jimenez, congratulated LFR on the recognition, “it deserved”.
“Without doubt, the approach LFR is taking in France, and the assistance it can provide to MAPFRE, is central to our Responsible Investment Policy, our ESG approach, and the development of our asset management business,” said Jimenez.
NOTES TO EDITORS:
MAPFRE AM is the Group’s fund management company in Spain. Its investment philosophy combines long-term value creation and protection of equity. Its main areas of expertise are focused on both European variable and fixed income and allocation of assets.
MAPFRE is a global insurance company with a worldwide presence. It is the leading insurer in the Spanish market and the foremost Spanish insurance company in the world, the main multinational insurer in Latin America and one of Europe’s Top 5 insurers by premium volume for Non-Life business. MAPFRE has over 36,000 employees and in 2017 it had revenues of nearly 28 billion euros, and a net profit totalling 701 million euros.
For further information please see: https://noticias.mapfre.com/en/
La Financière Responsible
In 2017, La Financière Responsable (LFR) won the CSR Challenge Trophy (Trophée Défis RSE), a French state-backed award in recognition of its socially responsible investment (SRI) approach. The firm’s proprietary Integral Value Approach IVA© – developed over several years - screens European stocks for Environmental, Social and Governance (ESG) factors, incorporating both financial and extra-financial factors. The process relies on LFR’s ‘Ecosocial Footprint’ database of 206 European stocks, which includes more than 145 encrypted and standardised indicators enabling portfolio managers to make a meaningful comparison between companies. The database information is sourced from the companies themselves rather than third parties. This directly-obtained historic information is particularly useful as investors seek reliable information to inform their ESG reporting obligations under France’s Article 173 of the Energy Transition to Green Growth Act.
LFR was cofounded in 2007 by Olivier Johanet (Chairman) and Stéphane Prévost (Chief Executive Officer). Its philosophy relies on long-term and stock-picking management to select European listed companies through a combination of strategic, non-financial and financial analysis (going back to 2006), in accordance with the Integral Value Approach IVA©.
LFR manages three funds: LFR Euro Développement Durable (euro equity), LFR Actions Solidaires (solidarity-based euro equity), Monceau Ethique (euro equity) and is advisor for Mapfre Capital Responsable Fund managed in Spain by Mapfre S.G.I.I.C. (SRI euro diversified subfund of the SICAV MAPFRE AM, managed in Luxembourg by MDO Management Company). All the 3 Paris based funds have received the French SRI certification label. The government backed SRI label for financial products means that LFR’sfunds are compliant with a set of criteria aimed at making economic performance compatible with positive social and environmental impacts through the financing of companies and public entities that contribute to sustainable development.