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France: BNP, Dexia vie for top SRI slot - report

FRANCE - BNP Paribas and Dexia are vying for first place in the French socially responsible investing market, consulting firm Novethic said.
The firm, part of Caisse des Dépôts, said the market is up 75% in the first half at 4.9 billion euros

Dexia AM and BNP PAM both managing funds valued at around a billion euros each, and are competing for the top slot in the segment, Novethic reported.

Macif Gestion is third, with its bond and money market funds exceeding 500 million euros.

I.DE.A.M and CDC IXIS have more than 300 million euros each while UBS AM and AXA IM have 200 million euros each.

“In the second quarter of this year, the upward trend was marked by significant expansion in fixed-income holdings, which now account for almost one-quarter of all assets under management,” Novethic said.

Fixed income and cash total 1.07 billion euros, compared with equities at 2.45 billion euros.

More than 60% of asset managers offering SRI have at least one full-time SRI expert.

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