EC’s Long-Term Investment Funds should adopt ‘comply or explain’ on SRI

first_imgThe European Commission should require asset managers launching European Long-Term Investment Funds (ELTIF) to disclose the social impact of all investments, asset manager Mirova has suggested.Gwenola Chambon, head of infrastructure funds at the Natixis Asset Management subsidiary, said she was “amazed” there seemed to be little interest in enshrining the notion of fostering socially and environmentally sustainable growth as part of ELTIFs’ investment goals, despite the responsible investment (RI) emphasis of the Commission’s Green Paper on Long-Term Investing.She told IPE all parties involved in the development of ELTIFs at first seemed “very enthusiastic” about the inclusion of an RI emphasis.“Now we have ended up with something that is clearly a long-term investment tool, but does not anymore have anything related to that aspect, which is to me very surprising,” she said.  “We end up with a European tool that is there to foster the economy, there to channel long-term funds, yet has nothing to say on that aspect [sustainable investment], which is too bad.”The initial legislative proposal for the ELTIF regulation, published in June last year, noted that “sustainable, smart and inclusive growth” was key to fostering European economic growth less susceptible to systemic risks.Chambon said the least the industry should expect from the Commission was for the regulation to be amended to include a requirement for asset managers launching ELTIFs to disclose their approach to socially responsible investment.“Any asset manager should at least explain how he wants to commit through that tool to social and responsible investment responsibilities – whether it has no particular objective, or whether it has – and if it has, to be very concrete on what it wants to do and what it wants to implement,” she said.She said infrastructure, and particularly social housing, were assets forming the building blocks of a society.“We are creating assets that will have an impact on several generations,” she said. “We can’t afford not to think about the social and responsible impact on our environment and the economy in general.”PensionsEurope has previously suggested the European Investment Bank should offer both capital guarantees and its own expertise to assessing infrastructure projects backed by ELTIFs.last_img read more

Monaco Send Onyekuru on Loan to Galatasaray again

first_imgHe scored 14 goals in 35 appearances for Galatasaray who went on to win the Turkish championship.Monaco, who signed the Nigerian for €17 million during the summer, have not included an ‘option to buy’ clause in the loan, suggesting that Onyekuru remains a part of their long-term strategy.Since his arrival in the principality, Onyekuru, who joined Monaco on a five-year deal, figured in just four matches under Leonardo Jardim who was sacked just after Christmas and replaced by ex-Spain boss Roberto Moreno. He hasn’t played in Ligue 1 since September 29.The loan signing ceremony which held at the Florya Metin Oktay Facilities was attended by Galatasaray President Mustafa Cengiz and Vice President Abdurrahim Albayrak.Galatasaray have paid Monaco a loan fee of 750,000 euros for the services of Onyekuru and the winger will earn 650,000 euros (N253.5 million) for the second half of this season, the club’s official website further announced .In his first words after signing the deal, Onyekuru said: “I am very happy to return to my house. This is my house. I hope we’ll be champions. I am very pleased and excited to be here.Galatasaray President Cengiz confirmed that the Nigeria international rejected other offers in favour of a return to the Istanbul club.Onyekuru helped the Lions win the League and Cup whilst on loan from Everton last season, scoring 16 goals in 44 games across all competitions while producing six assists.For the remainder of the 2019-2020 season, the former Eupen star will wear the number 70 jersey.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Monaco’s exciting young Nigerian striker Henry Onyekuru is to spend the rest of the season on loan at Galatasaray, the Ligue 1 club announced yesterday.The Turkish Super Lig champions announced Onyekuru’s second loan spell with them on their official club website yesterday.It will be the 22-year-old’s second loan spell in Turkey as he shone for Galatasaray last season when he was still at English club Everton.last_img read more

Pogba propels Man United to victory against Young Boys

first_imgThe France star also set up the third goal for compatriot Anthony Martial in the second half, as Jose Mourinho’s side safely negotiated this fixture on the synthetic surface at the Stade de Suisse.Seemingly a club in crisis at the end of August following their 3-0 home defeat against Tottenham Hotspur, this was United’s third straight win since then, all away from home.Tougher tests await in Group H, though, with Valencia due at Old Trafford in a fortnight and Juventus — who won 2-0 in Spain on Wednesday despite having Cristiano Ronaldo sent off — to come after that.There were plenty of reasons to be wary of this trip, with United having lost to Basel on their last two visits to Switzerland, while Mourinho also lost in Basel with Chelsea in 2013.Meanwhile, the surface here was deemed a sufficient hazard by Mourinho for him to leave Antonio Valencia out of his squad. That meant a debut for Portuguese teenager Diogo Dalot, signed in the close season from FC Porto.His introduction was one of five changes made by Mourinho following the weekend win at Watford, with Martial also coming in for his first start since the defeat at Brighton a month ago.This was not a fixture to take lightly. It was a huge occasion for Young Boys, Swiss champions last season for the first time since 1986 and making their Champions League group stage debut.They were driven on by an electric atmosphere generated by a crowd of over 31,000 and were the better team for 35 minutes.With Swiss starlet Kevin Mbabu a driving force from right-back, the hosts saw giant striker Guillaume Hoarau head just wide while Mohamed Ali Camara and Christian Fassnacht both tested David de Gea from range.Marcus Rashford hit the outside of the post from a Luke Shaw cross, but the visitors were largely passive, seemingly waiting to pounce on a mistake, or for a moment of magic.That is what happened 10 minutes before the interval as Pogba’s superb footwork on the edge of the box set him up to lash a shot beyond goalkeeper David Von Ballmoos and into the roof of the net.He had his first Champions League goal since returning to Old Trafford in 2016, and it deflated the buoyant home support.– Controversial penalty –Still, Young Boys would have maintained a fighting chance had they gone in just one goal behind at the interval. But the decision by German referee Deniz Aytekin to award United a penalty two minutes before the break effectively killed the game.Shaw’s cross struck the arm of Mbabu from close range. It was a harsh call and highlighted the absence of Video Assistant Referees in the Champions League.Pogba converted the spot-kick, and with the home side unable to find a way back into the game after half-time, he was also the architect of the visitors’ third goal midway through the second half.After a driving run towards the penalty box, the captain set up Martial, whose low shot beat Von Ballmoos with the aid of a slight deflection.0Shares0000(Visited 3 times, 1 visits today) 0Shares0000Paul Pogba scored a brace and got an assist in Manchester United’s win away to Young Boys© AFP Alain GROSCLAUDEBERN, Switzerland, Sep 19 – Paul Pogba was the driving force with a brace as Manchester United recovered from a shaky start to record an ultimately convincing 3-0 win away to Young Boys in their opening Champions League game in Bern on Wednesday.Skipper Pogba’s superb opening goal cut down the Swiss champions in their prime, and he then doubled the English side’s lead from a penalty just before the break.last_img read more