FRANCE - Socially responsible investment (SRI) funds in France grew in value by 26% last year, from €10bn to €12.5bn, according to official state research body, Novethic.

Only nine new SRI funds were created in 2006, however, as many successful products date back more than five years. France already had 80 registered SRI funds in 2002.

Novethic does note that the proportion of money going into bond funds has risen noticeably. At the end of 2003 they attracted just 15% of the SRI asset total, with the bulk of the remainder resting in equities products. By the end of last year, SRI bond funds comprised more than 30% of the market by product and €3.6bn by assets under management.

Novethic is set to publish a report evaluating extra-financial criteria employed by SRI bonds later this month.