BELGIUM – Dexia Asset Management has set up a new sustainable equity fund, the Paricor E10, for Belgian institutional investors.

“The fund is open to all Belgian institutional investors,” Dexia said in a statement.

The fund is referenced against an index, created at Dexia’s request by ethical investment firm Ethibel, called the ESIG-I.

“The Paricor E10 fund is a sustainable equity fund under Belgian law with an Ethibel label,” Dexia said. The initial subscription price per share is 2,500 euros, with a minimum subscription of 125,000 euros. Management fees are 0.15% on an annual basis.

The net asset value is calculated weekly and the initial subscription period is from 14-20 November.

Dexia AM manages more than 60 billion euros for institutional and private clients. It says it has a 9.6% share of the European sustainable investment funds market – and 69 % of that market in Belgium. According to Ethibel, there are 16 providers of SRI funds in Belgium.

The first institutional investor in the fund is the Vlaams Zorgfonds fund.