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Significant number of Article 9 funds may need reclassification, study finds

Fund data provider FE Fundinfo analyzed the small print of 94,000 share classes or products, including 6,000 products sold as Article 9 strategies, and found that many of them may need to review their status.

Photo: picture alliance / Zoonar | Patrick Daxenbichler

Following a huge growth in the number of sustainable funds, concerns about greenwashing have been raised within the investment industry. A fresh analysis conducted by fund data provider FE Fundinfo suggests that more than one in four funds marketed as Article 9 under the EU’s Sustainable Finance Disclosure Regulation (SFDR) are at risk of being stripped of their designation, reports Citywire Selector.

FE Fundinfo analyzed the small print of 94,000 share classes or products from 287 providers, including 6,000 products sold as Article 9 strategies. Of the 6,000 funds or share classes, 79 had 100% as the minimum investment in sustainable investments, with a further 168 setting a minimum of 90%.

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