Sustainable Finance Disclosure Regulation – SFDR – comes into force, strengthening the European framework and supporting sustainable investment

Following the introduction of the Paris Agreement on the climate and the European Commission’s action plan, growing awareness of environmental, social and governance issues – and climate change challenges – has more swiftly directed investment to build a more responsible and sustainable economy.

Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (Sustainable Finance Disclosure Regulation or SFDR) applies to asset managers from March 10, 2021, with additional transparency requirements for both investment management companies and the portfolios themselves (mutual funds, mandates).

This regulation is designed to develop a European framework to support sustainable investment by including transparency requirements in funds’ legal documentation and outlining the way that sustainability risk is taken on board in decisions, as well as its potential effects on the portfolio’s profitability.


SFDR defines sustainability risk as:

“An environmental, social or governance event or condition that, if it occurs, could cause an actual or a potential material negative impact on the value of the investment”. As a result, Dorval AM has classified its various products into one of the categories defined by this regulation, depending on their degree of ESG integration:

  • Article 6: products that do not intend to promote ESG or to have sustainable investments as an objective. Such products may still integrate ESG characteristics, although not deemed to be material or binding, via exclusionary approaches or a dedicated analysis from a credit risk perspective.
  • Article 8: products that promote environmental or social characteristics, or a combination of both. This includes our products that have significant ESG integration as part of the investment process, with a material and binding non-financial selectivity approach. Even though these products do not have sustainable investment objectives, they can partially invest in assets that have a sustainable objective.
  • Article 9: products that have sustainable investments as their objective.


Our funds have been assessed on the two main criteria below:

  1. the methodology used by the portfolio manager to integrate non-financial criteria within the investment decision-making process;
  2. the product's ESG ambition.

As at March 10, 2021, Dorval AM’s open-ended certified funds are classified as article 8.


Classification of Dorval Asset Management’s open-ended funds based on SFDR classification and AMF position recommendation 2020-03 


We remain at your disposal for any queries you may have on these matters.

You can request the Key Investor Information Documents (KIID) and prospectuses, which you will receive within eight business days, by contacting the following address:

     Dorval Asset Management 1, rue de Gramont, 75002, Paris, France


Additionally, pursuant to article 3 of this regulation regarding “Transparency of sustainability risk policies”, and article 4 on “Transparency of adverse sustainability impacts at entity level – PAI”, Dorval AM has set out its policy on the integration of sustainability risks and its PAI statement, adding to the ESG documentation available on its website. Lastly, pursuant to article 5 of this regulation regarding “Transparency of remuneration policies in relation to the integration of sustainability risks”, financial market participants and financial advisors shall include in their remuneration policies information on how policies are consistent with the integration of sustainability risks and shall publish that information on their websites.

This information, Key Investor Information Documents (KIID) and prospectuses are available on our website.


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