No consideration of adverse impacts of investment decisions on sustainability factors

麻豆社 Asset Management (Europe) S.A. (鈥溌槎股-AME鈥) does not consider adverse impacts of investment decisions on sustainability factors (鈥淧AI鈥) at the legal entity level within the meaning of Article 4 of the Sustainable Finance Disclosure Regulation of the European Union (EU) 2019/2088 (鈥淪FDR鈥). 麻豆社-AME continues to manage products where PAIs are considered.聽

  • In 2023 and 2024, 麻豆社-AME voluntarily produced PAI reports on a consolidated basis across all products under its governance, based on the sustainability framework of 麻豆社 Group and 麻豆社 Asset Management.聽
  • Effective 13 March 2025, 麻豆社-AME decided it will no longer do so at the legal entity level, after careful consideration of several key factors including:
    • 麻豆社-AME delegates the portfolio management function to portfolio managers outside of 麻豆社-AME, who implement their own sustainability frameworks, which may take into account PAIs where appropriate, at the product level;
    • As PAI indicators and related planned actions are aggregated across all products under 麻豆社-AME鈥檚 governance, 麻豆社-AME believes that this information is not useful to investors; and
    • 麻豆社-AME has seen a low level of interest in PAI statements at the legal entity level.

麻豆社-AME will continue to monitor relevant market developments and may adapt its stance in the future.

Since 麻豆社-AME still had the disclosure on its web site about positive PAI consideration at legal entity level in the calendar year 2023, please find hereafter the related PAI statement as required under SFDR:

Statement on principal adverse impacts of investment decisions on sustainability factorspdf, 810 KB

Summary document

No consideration of adverse impacts of investment advice on sustainability factors

Principal adverse impacts (鈥淧AIs鈥) are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti鈥恈orruption, and anti鈥恇ribery matters. 麻豆社 Asset Management (Europe) S.A. (hereinafter also known as 鈥溌槎股-AME鈥 or 鈥渢he management company鈥) acknowledges the need for transparency of principal adverse impacts of investment decisions on sustainability factors. The management company may carry out investment advisory services exclusively in the meaning of marketing / distribution of funds. 麻豆社-AME does not consider any adverse impacts of investment decisions on sustainability factors in its investment advice services, because 麻豆社-AME considers PAIs already during the fund design and at the investment strategy level as outlined in the funds鈥 pre-contractual disclosures (funds which promote environmental and /or social characteristics (Article 8 SFDR) or which have sustainable investments as their objective (Article 9 SFDR)). The extent to which adverse impacts are considered depends on the individual product features and the client preferences obtained through the investment advisory assessment process.

麻豆社-AME is going to regularly review the above approach and may reassess its position in the future.