Label Relance

Label Relance should enable savers to easily identify funds that invest in favor of Society based in France that contribute to the recovery of the economy post-COVID while at the same time applying certain ESG criteria

Summary data :

label	ID	Topic	Description	Mode	Enabled	Order
Label Relance	6	Label	Label Relance	t	1	1
Label Relance	6	Nationality	France - French	t	1	3
Label Relance	6	Management	The Label is issued by the French Treasury's Directorate General to reward Society that invest in boosting the economy	t	1	4
Label Relance	6	Label Type	thematic	t	1	5
Label Relance	6	Website	https://www.tresor.economie.gouv.fr/Articles/2020/10/19/signature-d-un-accord-de-place-pour-la-creation-du-label-relance-afin-d-orienter-l-epargne-vers-le-financent-de-long-terme-des-entreprises-francaises	t	1	7
Label Relance	6	Market	The label only affects Society that have registered offices in France.	t	1	8
Label Relance	6	Products	228 to September 2024	t	1	9
Label Relance	6	Links to funds	https://www.tresor.economie.gouv.fr/Articles/2020/10/19/signature-d-un-accord-de-place-pour-la-creation-du-label-relance-afin-d-orienter-l-epargne-vers-le-financent-de-long-terme-des-entreprises-francaises	t	1	10
Label Relance	6	Criteria	https://www.tresor.economie.gouv.fr/Articles/64f850de-6ec7-44e9-99c9-40035796ddc9/files/65fe2c8b-7501-4882-b262-353a7b89d1de	t	1	15
Label Relance	6	Periodicity	4 years with verification of requirements every 6 months	t	1	21

Analytical data :

label	ID	Topic	Description	Mode	Enabled	Order
Label Relance	6	Description	Label Relance should enable savers to easily identify funds that invest in favor of Society based in France and contribute to the recovery of the post-COVID economy while applying certain ESG criteria	d	1	6
Label Relance	6	Genesis and development	The label was created in October 2020 at the initiative of the Minister of Economy, Finance and Recovery, in consultation with associations and federations of the financial sector, businesses and savers, in order to facilitate post-covid recovery and to make funds that actively participate in supporting the economy recognizable to savers	d	1	11
Label Relance	6	Goals	Label Relance is intended to make it easy to recognize investment funds that can quickly mobilize new resources to support the assets and equity of French companies, and it is intended to enable savers to easily identify investments that can meet the needs of companies, thus encouraging their mobilization for recovery	d	1	12
Label Relance	6	Promoters and administrators	The label is administered by the "Relance" Label Oversight Board, a cross-sectional committee that brings together all financial industry trade associations, and is responsible for reviewing the labeling process and coordinating the actions of the 'Control Board, administered by the Treasury Directorate General, which monitors compliance over time of labeled funds	d	1	13
Label Relance	6	SRI Approach	To qualify for the Relance label, the fund must meet the label's financial criteria (choose one of two investment regimes under the label), and consider ESG factors, including the 'exclusion of coal-related activities, social commitments to employment and employees, and a strong approach toward inclusion, best-practice governance, and gender equality	d	1	14
Label Relance	6	Mandatory Criteria	The minimum criteria that funds must meet in order to obtain the label are divided into investment criteria (allocation of fund assets to support the financing of the French economy) and ESG criteria : an ESG supervision system at the Society management level and a multi-year development plan is mandatory, the ESG rating of at least 75 percent of the fund's Portfolio and the exclusion of Society engaged in coal-related activities, and may verify that holdings in Portfolio employ employee-friendly social measures (interest, fair wage plans) and have governance structures marked by gender equality and best-practice. There are also forms of recognition of other French labels (Label SRI, Greenfin, Finansol), and an obligation to comply with the transparency standards issued by the AMF in 2020 regarding ESG.	d	1	16
Label Relance	6	Additional criteria	Optional criteria enhanced by the Ministry are Engagement (voting at annual general meetings and dialogue with Society at Portfolio), and enhanced approach to environmental issues (Issues related to ecological and energy transition typical of the Greenfin Label are particularly encouraged). The Label also asks funds that invest in listed equities for a commitment to materially participate in at least 5 capital increases each year.	d	1	17
Label Relance	6	Allocation process	In order to obtain the label, one must contact the Oversight Board by e-mail by filling out the form provided for the application and adding the fund's regulatory documentation, the key information document, any additional documents related to the ESG policy, and any other documents they deem useful for their file review. The Label is granted after full review by the Supervisory Board, which deliberates and notifies in writing the right to use the label for the next 4 years.	d	1	20
Label Relance	6	External certification	the label is initially granted for a period of 4 years, and subsequently verified upon semi-annual reporting. The Treasury, in case of doubt, initiates a monitoring process and reserves the right to remove the right to use the label when the minimum requirements are no longer met	d	1	22
Label Relance	6	Focus on transparency	Funds will be required to publish semiannually on their website information on holdings, the percentage of Portfolio invested in French Society , the type of assets held, and the ESG criteria used (ratings, indicators used) in line with the AMF doctrine on non-financial instruments issued in 2020. The French Treasury publishes the list of labeled funds on a monthly basis.	d	1	23
Label Relance	6	Focus on periodic checks	The supervisory body of the "Relance" label ensures that certified collective investment schemes comply with the commitments set out in the Charter. The right to use the "Relance" label may be revoked if the supervisory body identifies serious violations of the requirements of the Charter, without remedy within a reasonable period of time	d	1	24
Label Relance	6	Related parties	The "Relance" brand was created and is coordinated by the leading financial sector trade associations in France, which ensure its credibility: the French Association of Financial Management (AFG), France Invest, by the French Insurance Federation (FBF), the Fédération French bank (FBF ), the National Association of Financial Advisers (ANACOFI), the National Chamber of Asset Management Advice (CNCGP), the French Association of Savings and Retirees (AFER), the French Federation of Associations of Employed and Formerly Employed Shareholders (FAS), the Federation of Independent Associations for the Defense of Retired Savers (FAIDER) and Federation of Institutional Investors and Investment Clubs (F2IC)	d	1	25

How to read table data :

ISIN: is the identification code most commonly used to identify funds, ETFs and other financial instruments
Fund: by clicking, you will be able to view the simplified fund fact sheet
Currency : is the currency in which the fund is denominated
Esgap: "ESG Adjusted Performance." It is a proprietary measure of MCSR that allows a summary evaluation of funds considering the quality of the sustainable investment process, continuity, and measurement of performance and risk parameters. The maximum value is 18 points.
MCSRIntensity: This is a proprietary measure of MCSR that summarizes assessments of the quality of the sustainable investment process. Funds rated 5 have an excellent investment process in ESG instruments. Funds with lower scores are still preferable to funds that do not engage in positive finance.
Average Intensity: This is the average of ESG intensity ratings related to individual parameters
SFDR: This is the European regulation that commits Society management to declare whether the fund also considers ESG aspects (Article 8) or whether ESG aspects are prioritized over financial aspects (Article 9)
Performance: Measures the fund's performance continuity (expressed in euros) over three different time periods with a scale from 1 to 5. Funds rated 5 are excellent in performance.
Risk: Measures the continuity of risk taken by the fund in terms of volatility over three different time periods with a scale of 1 to 5. Funds rated 5 are excellent at controlling risk.
Cost: This is the aggregate cost of the fund on an annual basis. In Portfolio it is the aggregate cost of all its component instruments.
SRRI: This is the legal parameter that defines the measure of risk that the fund should maintain over time. The scale ranges from 1 (lowest risk) to 7 (highest risk)
Performance 6 months / 1 year / 3 years: performance expressed in euros over the past 6 months / 12 months / 36 months
Classification: either the market in which the fund invests or the management objective, depending on the context
Instrument: Indicates whether the financial instrument is a fund, ETF or fund of funds
Type: Indicates whether the fund's Portfolio and investment policy is predominantly equity, bond, whether it balances the two components, or whether the manager is free to vary the extent and risk
Theme : when a fund is "thematic," it means that it specializes in managing in a specific investment area.
Environment: is the assessment of ESG intensity related to Environmental aspects
Good Governance is the assessment of ESG intensity related to aspects of good governance
Society is the assessment of ESG intensity related to aspects of Society
Transparency is the assessment of the intensity with which Society management is transparent in its ESG content
Processes is the assessment of the intensity with which Society management is qualified in its ESG processes