Dexia Asset Management, the European socially responsible investment (SRI) leader owned by stricken Franco-Belgian banking giant Dexia, has sought to reassure its clients.
“We can assure that Dexia Asset Management continues its business as usual,” said Dexia AM Chief Executive Naim Abou-Jaoudé in a statement.
Dexia AM is one of the pioneers of responsible investing in Europe with some €18bn of SRI funds under management. Parent firm Dexia has been struck down by the European sovereign debt crisis. It’s been reported Dexia will seek to sell off the fund arm; talks are alreadyunderway to sell Dexia’s Luxembourg subsidiary.
“All securities held by the funds and mandates managed by Dexia AM are deposited on various custody accounts, fully segregated and protected as per all applicable legal requirements,” Abou-Jaoudé added.
He said Dexia AM – a founding signatory to the UN Principles for Responsible Investment which created its first SRI fund in 1996 – continues to manage its clients’ assets within a “well-capitalized, distinct legal entity”.
He went on to say that the developments were “in the best interest of our clients and our business”. He looked towards the future “with confidence”.