The French SRI market surpassed the 5 billion euro mark in 2004; funds under management, and French SRI funds increased assets under management by 24%.
Total assets under management by open-ended SRI funds available in the French market (both domestic and foreign funds) surpassed 5 billion euros in 2004, compared with 4.4 billion euros at year-end 2003 and 2.5 billion euros at year-end 2002. That means total funds under SRI management have doubled in two years.
One of the highlights of 2004 was the significant increase in SRI assets managed by French funds, which today total nearly 3.6 billion euros, versus 2.9 billion euros the previous year ? a 24% increase. At year-end 2001, assets under French SRI management totaled 920 million euros, making for a spectacular rise. Assets under French SRI management have grown nearly fourfold in just three years.
At year-end 2004, a total of 122 funds were available to investors in the French market, as opposed to 108 in 2003 and 80 at year-end 2002, an increase of more than a third in two years.
A number of new players entered the French market last year: Orsay Gestion; JP Morgan Fleming; Fdris Gestion. And many French players enhanced their SRI fund ranges: Prado Epargne, Macif Gestion, HSBC AM, I.DE.A.M, and Phitrust Finance, all of which created new vehicles or shifted the focus of existing funds to SRI management processes.
Vigeo is still the leading social rating agency, supplying 47% of all asset management firms. Eiris is in second place once again, with 13% market share, but Innovest moved up three notches and has captured 10% of the market.
Novethic, a subsidiary of the Caisse des dpts (CDC), and a resource center for socially responsible investment, presented the highlights of the SRI investment market in France for 2004.
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