Fidelity International intends to adopt the ‘Sustainability Focus’ SDR label for three of its UK-domiciled equity funds.
The label will apply to the £125m Fidelity Sustainable UK Equity, £463m Fidelity Sustainable Global Equity and £284m Fidelity Sustainable European Equity funds.
The ‘Sustainability Focus’ label applies to funds which aim to invest in assets that are environmentally and/or socially sustainable, determined using a ‘robust, evidence-based standard that is an absolute measure of sustainability’.
Jenn-Hui Tan, chief sustainability officer at Fidelity International, said: “We welcome the introduction of SDR and see it as an important stage in the development of sustainable investing in the UK, giving investors greater confidence to allocate to sustainable funds.
“The ‘Sustainability Focus’ label aligns well with the established investment approach of these funds and builds on our approach to managing SFDR Article 9 funds for European investors.
“We look forward to continue working with clients to meet their sustainable investing needs.”
As part of the disclosure requirements, the FCA announced a sustainable fund labelling regime at the end of July. The four labels include ‘Sustainability Mixed Goals’, ‘Sustainability Improvers’, ‘Sustainability Impact’ and ‘Sustainability Focus’.
Fidelity added it is also reviewing opportunities for adopting other SDR labels within its fund range.
Naming and marketing requirements under SDR must be met by 2 December.
This article first appeared on PA Future’s sister site Portfolio Adviser
