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Second application process for LuxFLAG designation now open

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The second application process for the LuxFLAG Environment Label is open now and the deadline for introducing applications is 20 February 2012.

An Applicant Investment Fund should begin the process by completing a pre‐questionnaire that is available on the LuxFLAG website.

Following the pre‐questionnaire, the application file for the LuxFLAG Environment Label comprises two main elements:

The Application Form which calls for certain documents to be attached, such as the latest version of the Applicant Investment Fund’s prospectus and its latest audited annual financial statements or semi‐annual financial statements.

A Detailed Questionnaire to be completed by the Applicant Investment Fund, concerning such matters as its procedures for screening investments and potential investments both as regards their qualification as investments in environment‐related sectors and on their management of Environmental, Social and Governance (ESG) practices.

Daniel Dax, General Manager of LuxFLAG, encourages prospect Applicant Investment Funds to take advantage of this opportunity to obtain the LuxFLAG Environment Label, and recommends a timely completion of the application in order to ensure a successful start of the LuxFLAG Environment Label.

The LuxFLAG Environment Label will be granted to investment funds investing in environment‐related sectors irrespective of their domicile of registration. It is designed to reassure investors that labelled investment funds actually invest the majority of their assets in environment‐related sectors in a responsible manner. The eligibility criteria for the LuxFLAG Environment Label require the Applicant Investment Fund to have a portfolio of investments in environment‐related sectors corresponding to at least 75% of the fund’s total assets. The LuxFLAG Environment Label is granted by LuxFLAG’s Board of Directors, based upon an application by the Applicant Investment Fund including information reviewed by an Auditor, and a recommendation by LuxFLAG’s Eligibility Committee of specialists in environmental investment.

In December 2011, LuxFLAG has granted three investment funds specializing in environmental investment the LuxFLAG Environment Label status. With more than USD 400 million under management the three funds are the Green for Growth Fund ‐Southeast Europe, Lux‐Equity Eco Global and Parvest‐Environmental Opportunities.

 

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