AllianceBernstein (AB) will adopt the Financial Conduct Authority’s (FCA) ‘Sustainability Focus’ label on two equity funds within its OEIC range: the SVS AllianceBernstein Sustainable Global Equity fund and SVS AllianceBernstein Sustainable US Equity fund.
The label will be introduced with immediate effect, and investors in the two funds will receive official confirmation regarding the prospectus changing in the near future.
The ‘Sustainability Focus’ label identifies investment products with a sustainability objective consistent with investing at least 70% in assets that are environmentally and/or socially sustainable, determined using a robust, evidence-based standard that is an absolute measure of environmental and/or social sustainability
The recently introduced labels under the FCA’s Sustainability Disclosure Requirements (SDR) aim to help UK consumers navigate the market for sustainable investment products.
On adopting the label, Adam Peters, head of UK retail, commented: “We’re delighted to begin using the Sustainability Focus label for two of our OEIC funds which reflect our strategic approach to sustainable investing. By using the ‘Sustainability Focus’ label, we can demonstrate the products’ commitment to sustainable investing, providing our clients with greater transparency and clarity, making it easier for them to identify the most relevant products for their needs.”
Neil Coxhead, CEO of Evelyn Partners Fund Solutions Limited – who is the authorised corporate director (ACD) of the funds, added: “Working in partnership with AllianceBernstein, we are delighted to have now received FCA approval for the use of SDR labels on these two funds. Within our role as ACD, we now look forward to providing the necessary oversight and support as these labels are now adopted.”
