FR – AMF’s report on AMC compliance with non-financial contractual commitments
On June 12, 2023, the Autorité des marchés financiers (AMF) published a report summarizing SPOT inspection on portfolio Asset Management Companies (AMC)' compliance with their non-financial contractual commitments.
The AMF assessed the level of compliance with the AMCs’ regulatory obligations and identified good and poor practices in the following fields:
environmental, social and governance (ESG) / socially responsible investment (SRI) management organization and resources
ESG management and rating methodology;
the process for selecting and monitoring external suppliers of extra-financial data;
the process for constructing and reviewing the initial investment universe and the investment process for ESG / SRI funds;
the mapping of existing commitments, particularly in terms of some issuers exclusion;
monitoring compliance with commitments;
information provided to investors on contractual extra-financial commitments;
the role of custodians in monitoring funds' extra-financial commitments.