Six weeks before its introduction, the “sustainability preference survey” (in German „Nachhaltigkeitspräferenzabfrage“) seems to be doomed before it has even started. Advisors and sales teams of fund companies and unit-linked products don’t know which products they can offer their customers as truly sustainable (and with a clear conscience) from 2 August onwards when the new regulation kicks in. Meanwhile fund companies are struggling to get more of their prodcuts to be labelled with the Article 8 or Article 9 seal of approval.
For the new episode of the GFC (not the ‘Global Financial Crisis’) Podcast I talked with Dr. Klaus Möller, Managing Director of the DEFINO Institute for Financial Standardisation about how a new industry standard (“DIN-Norm”) can help sales people to get at least exemption from liability when giving advice. Petter von Bonsdorff from the Finnish asset manager EVLI, explained to me why he thinks most blockbuster funds don’t even deserve the Article 8 rating (this interview is in English).
Length of the podcast: 25:26 min.
