# Environmental and/or social characteristics
a p
What environmental and/or social characteristics are promoted by this financial product?
The sub-fund is a Feeder sub-fund of the Z unit of VENDOME SELECTION EURO, a French mutual fund approved by the Autorité des Marchés Financiers as a UCITS (the "Master Fund"), and is required to invest at least 85% of its assets on a permanent basis in units of the Master Fund. The sub-fund may invest up to 15% of its assets in cash.
As a feeder sub-fund, the characteristics promoted by the Sub-Fund are aligned with those of the mutual fund.
The environmental and/or social characteristics ("E/S"), promoted by the Sub-fund, consist in investing primarily in high-ESG profile companies, based on a best-in-class approach, while excluding companies involved in the coal and tobacco industries in particular.
Coal policy
The following exclusion thresholds apply to all companies:
- Companies developing or planning to develop new thermal coal capacities along the entire value chain (producers, extractors, power plants, transport infrastructure);
- Companies deriving more than 25% of their revenues from thermal coal extraction;
- Companies with a thermal coal extraction of 100 million tonnes or more with no intention of reducing the same;
- All companies whose income from thermal coal extraction and production of electricity from thermal coal exceeds 50% of the total income without analysis;

|  | - All companies operating in thermal coal extraction and electricity production from thermal coal whose threshold falls between 25% and 50% of their income and whose energy transition score is low.
 Tobacco policy Companies that manufacture tobacco products (revenues greater than 5%) are excluded. ESG rating evaluation The Managers also draw on the analysis of an external provider, which has dedicated resources and teams with ESG-related experience. The provider assigns ESG ratings to target investments based on the analysis of 37 environmental, social and governance criteria, comprising 16 generic criteria and 21 criteria specific to the different sectors and several data providers. The ESG ratings received are converted by applying a rating grid specific to the Managers on a scale of 0 (lowest rating) to 100 (highest rating). This analysis enables the implementation of a rigorous investment selection process that excludes companies that comply neither with the ESG policy of the group to which the Management Company belongs, nor with international conventions and internationally recognised regulatory frameworks or national regulatory frameworks. No benchmark has been designated for the purpose of achieving the E/S characteristics promoted by the Sub- fund. |
| --- | --- |
|  | - What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
 |
|  | In order to measure the achievement of the above-mentioned E/S characteristics, the Sub-fund will use the following sustainability indicators: - Percentage of issuers covered by an ESG rating methodology (at least 90%);
- Average ESG rating of the portfolio;
- Average ESG rating of the initial universe;
- Difference between the portfolio's average ESG rating and the average ESG rating of the initial universe;
- The portion of the investment universe excluded following the implementation of the ESG strategy.
 |
|  | - What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
 |
|  | The aim of sustainable investments is to invest in target issuers with two objectives: - follow best environmental and social practices; and
- not generate any products or services that harm the environment or society.
 It was established that "contributing to long-term sustainability criteria" applicable to issuers meant that they had to be exemplary in their sector in terms of at least one environmental or social factor. The definition of an exemplary issuer in its sector is based on the ESG rating methodology used to measure the ESG performance of the issuer. In order to qualify as "exemplary", an issuer must be part of the top third of the companies in its business sector in terms of at least one environmental or social factor. An issuer meets these long-term sustainability criteria if it is not significantly exposed to transactions that are incompatible with said criteria (e.g. tobacco, weapons, betting, coal, aviation, meat production, fertilizers and pesticide manufacturing, single-use plastic production). |
|  | - How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
 |
| The DNSH (Do No Significant Harm) principle is tested based on the indicators of the Principal Adverse Impacts (such as the issuer's GHG emission intensity) through a combination of indicators (e.g. carbon footprint) and specific thresholds or rules (e.g., the issuer's carbon footprint cannot be in the lower decile of the sector). In addition to these criteria specifically established for this test, the Manager takes into account certain indicators of the Principal Adverse Impacts in its exclusion policy. This methodology does not currently take into account all the indicators of the Principal Adverse Impacts listed in Appendix 1 of the Commission Delegated Regulation (EU) 22/2018 in this first DNSH test, but the methodology will gradually integrate these indicators as the quality and scope of the data improve. In addition to the sustainability factors covered by the first test, a second test has been defined to verify that the issuer's environmental or social impact is not among the worst in the sector. |
| -  How have the indicators of adverse impacts been taken into account? x |
|  | These indicators were taken into account through their monitoring (e.g., the issuer's GHG emission intensity). This monitoring is based on the combination of indicators (e.g., carbon footprint) and specific thresholds or rules (e.g., the target's carbon footprint cannot be in the lower decile of the sector). In addition to these criteria specifically established for this test, the Manager takes into account certain indicators of the Principal Adverse Impacts in its exclusion policy. This methodology does not currently take into account all the indicators of the |

Principal Adverse Impacts listed in Appendix 1 of the Commission Delegated Regulation (EU) 22/2018 in this first DNSH test, but the methodology will gradually integrate these indicators as the quality and scope of the data improve.
- 
To what extent do the sustainable investments comply with the OECD Guidelines for Multinational Enterprises and the United Nations Guiding Principles on Business and Human Rights?
The alignment with the OECD Guidelines for Multinational Enterprises and the United Nations Guiding Principles on Business and Human Rights is tested and ensured through the process of identifying sustainable investments. Through our ESG rating and exclusion policy, we review companies before including them in our investment universe.
Does this financial product consider principal adverse impacts on sustainability factors?
☒ Yes, the Sub-Fund considers the Principal Adverse Impacts on Sustainability Factors as follows:
| # | Adverse Impact Indicator | Approach |
| --- | --- | --- |
| 1 | GHG emissions (levels 1, 2 and 3) | ESG rating and voting policy |
| 2 | Carbon footprint | ESG rating and voting policy |
| 3 | GHG emission intensity of the companies benefiting from the investments | ESG rating and voting policy |
| 4 | Exposure to companies operating in the fossil fuel sector | ESG Rating, exclusion policy and voting |
| 5 | Share  of  non-renewable  energy consumption and production | ESG rating and voting policy |
| 6 | Energy consumption intensity by sector with a high climate impact | ESG rating and voting policy |
| 7 | Activities with an adverse impact on biodiversity-sensitive areas | ESG rating |
| 8 | Discharges into water | ESG rating |
| 9 | Ratio  of  hazardous  waste  and radioactive waste | ESG rating |
| 10 | Violations of the United Nations Global  Compact  principles  and OECD Guidelines for Multinational Enterprises | Exclusion policy and voting policy |
| 11 | Absence of processes and compliance mechanisms to monitor compliance with the United Nations Global Compact principles and OECD Guidelines for Multinational Enterprises | Voting policy |
| 12 | Uncorrected pay gap between men and women | Voting policy |
| 13 | Diversity within governance bodies | Voting policy |
| 14 | Exposure to controversial weapons (anti-personnel	mines,	cluster | Exclusion policy |

|  | munitions, chemical weapons or biological weapons) |  |
| --- | --- | --- |
| 15 | GHG emission intensity | ESG rating |
| 16 | Investment countries experiencing violations of social standards | Exclusion policy |

Further information on how the Principal Adverse Impacts on Sustainability Factors has been taken into account will be available in the Sub-Fund's periodic reports.
- NoWhat investment strategy does this financial product follow?

The Sub-fund follows targeted sector-based exclusions specific to the coal and tobacco industries:
Coal policy
The following exclusion thresholds apply to all companies:
- Companies developing or planning to develop new thermal coal capacities along the entire value chain (producers, extractors, power plants, transport infrastructure);
- Companies deriving more than 25% of their revenues from thermal coal extraction;
- Companies with a thermal coal extraction of 100 million tonnes or more with no intention of reducing the same;
- All companies whose income from thermal coal extraction and production of electricity from thermal coal exceeds 50% of the total income without analysis;
- All companies operating in thermal coal extraction and electricity production from thermal coal whose threshold falls between 25% and 50% of their income and whose energy transition score is low.

Tobacco policy
Companies that manufacture tobacco products (revenues greater than 5%) are excluded.
ESG rating evaluation
The Managers also draw on the analysis of an external provider, which has dedicated resources and teams with ESG-related experience. The provider assigns ESG ratings to target investments based on the analysis of 37 environmental, social and governance criteria, comprising 16 generic criteria and 21 criteria specific to the different sectors and several data providers. The ESG ratings received are converted by applying a rating grid specific to the Managers on a scale of 0 (lowest rating) to 100 (highest rating).
This analysis enables the implementation of a rigorous investment selection process that excludes companies that comply neither with the ESG policy of the group to which the Management Company belongs, nor with international conventions and internationally recognised regulatory frameworks or national regulatory frameworks.
This is the case, for example, with:
- • Any investment in companies involved in the manufacture, sale or storage of anti-personnel mines and cluster bombs, or services related thereto, in accordance with the Ottawa Treaty and the Oslo Convention;
- • Companies producing, storing and selling chemical weapons, biological weapons or depleted uranium weapons;
- • Companies that seriously and repeatedly breach one or more of the 10 principles of the Global Compact, without credible remedial action.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy are as follows:
- The application of the above exclusion list;
- Systematic application of the ESG rating when analysing each security;
- At least 90% of the portfolio must have an ESG rating, excluding deposits, cash and borrowings,
- The portfolio's average ESG rating must be higher than the ESG rating of the investment universe or the benchmark.
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

Not applicable (N/A)
- What is the policy to assess good governance practices of the investee companies?

ristics
The governance criteria considered in the ESG rating as well as the exclusions help ensure that target issuers have good governance practices. These criteria make it possible to ensure, in particular, that the Sub-Fund does not contribute to the violation of human or labour rights, corruption or other actions that could be considered unethical. This approach is based on global standards and principles, which include (but are not limited to) the United Nations Global Compact, the OECD Guidelines for Multinational Enterprises, the UN Guiding Principles on Business and Human Rights.
In addition, the Sub-Fund strives to promote the good governance of these issuing entities by considering the issuer's governance.
What is the asset allocation planned for this financial product?
A minimum of 60% of assets will be invested in issuers that are aligned with the E/S characteristics promoted (#1 Aligned with the E/S characteristics); among these investments those considered sustainable investments will represent at least 10% of assets (#1A Sustainable). The rest (40%) will consist of cash, cash equivalents as well as unscreened investments and will not be aligned with the E/S characteristics promoted (#2 Other).
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

Not Applicable (N/A).
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The Sub-Fund is currently not committed to investing in a sustainable investment within the meaning of the EU taxonomy, but only within the meaning of the sustainable finance disclosure regulation ("SFDR"). However, this position is maintained under review as the underlying rules are finalized and the availability of reliable data increases over time. As a result, the alignment of this Sub-Fund's investments with the EU taxonomy has not been calculated and has therefore been considered as constituting 0% of the portfolio.
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Taxonomy- aligned
Other investments
100%
100%
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1. Alignement des investissements
sur la taxinomie, hors obligations souveraines*
- What is the minimum share of investments in transitional and enabling activities?

As the Sub-Fund does not commit to making sustainable investments within the meaning of the EU taxonomy, the minimum share of investments in transitional and enabling activities within the meaning of the EU taxonomy is therefore also set at 0%.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The Sub-fund undertakes to make at least 10% sustainable investments whose environmental objective is in line with SFDR. These investments could be aligned with the EU taxonomy, but the Manager is not currently in a position to specify the exact proportion of the Sub-Fund's underlying investments that take into account the EU criteria for environmentally sustainable economic activities. However, this position will be maintained under review as the underlying rules will be finalized and the availability of reliable data will increase over time.
What is the minimum share of socially sustainable investments?
Not Applicable (N/A).
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
Category "#2 Other" consists of unscreened investments for diversification purposes, investments for which all data is not available or cash held in the form of ancillary liquid assets. There are no minimum environmental or social guarantees for such investments.
| Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes? |
| --- |
| Not Applicable (N/A). |
|  | Where can I find more product specific information online? More product-specific information can be found on the website: www.ca-indosuez.com/fr/pages/ca-indosuez-wealth-asset-management Réglementation SFDR |

|  | Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852 |
| --- | --- |
| Product name: Europe Opportunities ("Sub-Fund") | Legal entity identifier: 549300 HD32GGT7EEJ605 |
|  | Environmental and/or social characteristics |
|  |
|  | What environmental and/or social characteristics are promoted by this financial product? |
|  | The environmental and/or social characteristics ("E/S"), promoted by the Sub-fund, consist in investing primarily in high-ESG profile companies, based on a best-in-class approach, while excluding companies involved in the coal and tobacco industries in particular. Coal policy The following exclusion thresholds apply to all companies: - Companies developing or planning to develop new thermal coal capacities along the entire value chain (producers, extractors, power plants, transport infrastructure);
- Companies deriving more than 25% of their revenues from thermal coal extraction;
- Companies with a thermal coal extraction of 100 million tonnes or more with no intention of reducing the same;
- All companies whose income from thermal coal extraction and production of electricity from thermal coal exceeds 50% of the total income without analysis;
- All companies operating in thermal coal extraction and electricity production from thermal coal whose threshold falls between 25% and 50% of their income and whose energy transition score is low.
 Tobacco policy Companies that manufacture tobacco products (revenues greater than 5%) are excluded. |

|  | ESG rating evaluation The Managers also draw on the analysis of an external provider, which has dedicated resources and teams with ESG-related experience. The provider assigns ESG ratings to target investments based on the analysis of 37 environmental, social and governance criteria, comprising 16 generic criteria and 21 criteria specific to the different sectors and several data providers. The ESG ratings received are converted by applying a rating grid specific to the Managers on a scale of 0 (lowest rating) to 100 (highest rating). This analysis enables the implementation of a rigorous investment selection process that excludes companies that comply neither with the ESG policy of the group to which the Management Company belongs, nor with international conventions and internationally recognised regulatory frameworks or national regulatory frameworks. No benchmark has been designated for the purpose of achieving the E/S characteristics promoted by the Sub- fund. |
| --- | --- |
|  | - What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
 |
|  | In order to measure the achievement of the above-mentioned E/S characteristics, the Sub-fund will use the following sustainability indicators: - Percentage of issuers covered by an ESG rating methodology (at least 90%);
- Average ESG rating of the portfolio;
- Average ESG rating of the initial universe;
- Difference between the portfolio's average ESG rating and the average ESG rating of the initial universe;
- The portion of the investment universe excluded following the implementation of the ESG strategy.
 |
|  | - What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
 |
|  | The aim of sustainable investments is to invest in target issuers with two objectives: - follow best environmental and social practices; and
- not generate any products or services that harm the environment or society.
 It was established that "contributing to long-term sustainability criteria" applicable to issuers meant that they had to be exemplary in their sector in terms of at least one environmental or social factor. The definition of an exemplary issuer in its sector is based on the ESG rating methodology used to measure the ESG performance of the issuer. In order to qualify as "exemplary", an issuer must be part of the top third of the companies in its business sector in terms of at least one environmental or social factor. An issuer meets these long-term sustainability criteria if it is not significantly exposed to transactions that are incompatible with said criteria (e.g. tobacco, weapons, betting, coal, aviation, meat production, fertilizers and pesticide manufacturing, single-use plastic production). |
|  | - How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
 |
| The DNSH (Do No Significant Harm) principle is tested based on the indicators of the Principal Adverse Impacts (such as the issuer's GHG emission intensity) through a combination of indicators (e.g. carbon footprint) and specific thresholds or rules (e.g., the issuer's carbon footprint cannot be in the lower decile of the sector). In addition to these criteria specifically established for this test, the Manager takes into account certain indicators of the Principal Adverse Impacts in its exclusion policy. This methodology does not currently take into account all the indicators of the Principal Adverse Impacts listed in Appendix 1 of the Commission Delegated Regulation (EU) 22/2018 in this first DNSH test, but the methodology will gradually integrate these indicators as the quality and scope of the data improve. In addition to the sustainability factors covered by the first test, a second test has been defined to verify that the issuer's environmental or social impact is not among the worst in the sector. |
| -  How have the indicators of adverse impacts been taken into account? |
|  | These indicators were taken into account through their monitoring (e.g., the issuer's GHG emission intensity). This monitoring is based on the combination of indicators (e.g., carbon footprint) and specific thresholds or rules (e.g., the target's carbon footprint cannot be in the lower decile of the sector). In addition to these criteria specifically established for this test, the Manager takes into account certain indicators of the Principal Adverse Impacts in its exclusion policy. This methodology does not currently take into account all the indicators of the |

Principal Adverse Impacts listed in Appendix 1 of the Commission Delegated Regulation (EU) 22/2018 in this first DNSH test, but the methodology will gradually integrate these indicators as the quality and scope of the data improve.
- 
To what extent do the sustainable investments comply with the OECD Guidelines for Multinational Enterprises and the United Nations Guiding Principles on Business and Human Rights?
The alignment with the OECD Guidelines for Multinational Enterprises and the United Nations Guiding Principles on Business and Human Rights is tested and ensured through the process of identifying sustainable investments. Through our ESG rating and exclusion policy, we review companies before including them in our investment universe.
Does this financial product consider principal adverse impacts on sustainability factors?
☒ Yes, the Sub-Fund considers the Principal Adverse Impacts on Sustainability Factors as follows:
| # | Adverse Impact Indicator | Approach |
| --- | --- | --- |
| 1 | GHG emissions (levels 1, 2 and 3) | ESG rating and voting policy |
| 2 | Carbon footprint | ESG rating and voting policy |
| 3 | GHG emission intensity of the companies  benefiting  from  the investments | ESG rating and voting policy |
| 4 | Exposure to companies operating in the fossil fuel sector | ESG Rating, exclusion policy and voting |
| 5 | Share of non-renewable energy consumption and production | ESG rating and voting policy |
| 6 | Energy consumption intensity by sector with a high climate impact | ESG rating and voting policy |
| 7 | Activities with an adverse impact on biodiversity-sensitive areas | ESG rating |
| 8 | Discharges into water | ESG rating |
| 9 | Ratio  of  hazardous  waste  and radioactive waste | ESG rating |
| 10 | Violations of the United Nations Global Compact principles and OECD Guidelines for Multinational Enterprises | Exclusion policy and voting policy |
| 11 | Absence of processes and compliance mechanisms to monitor compliance with the United Nations Global Compact principles and OECD Guidelines for Multinational Enterprises | Voting policy |
| 12 | Uncorrected pay gap between men and women | Voting policy |
| 13 | Diversity within governance bodies | Voting policy |
| 14 | Exposure to controversial weapons (anti-personnel	mines,	cluster | Exclusion policy |

|  | munitions, chemical weapons or biological weapons) |  |
| --- | --- | --- |
| 15 | GHG emission intensity | ESG rating |
| 16 | Investment countries experiencing violations of social standards | Exclusion policy |

Further information on how the Principal Adverse Impacts on Sustainability Factors has been taken into account will be available in the Sub-Fund's periodic reports.
- NoWhat investment strategy does this financial product follow?

The Sub-fund follows targeted sector-based exclusions specific to the coal and tobacco industries:
Coal policy
The following exclusion thresholds apply to all companies:
- Companies developing or planning to develop new thermal coal capacities along the entire value chain (producers, extractors, power plants, transport infrastructure);
- Companies deriving more than 25% of their revenues from thermal coal extraction;
- Companies with a thermal coal extraction of 100 million tonnes or more with no intention of reducing the same;
- All companies whose income from thermal coal extraction and production of electricity from thermal coal exceeds 50% of the total income without analysis;
- All companies operating in thermal coal extraction and electricity production from thermal coal whose threshold falls between 25% and 50% of their income and whose energy transition score is low.

Tobacco policy
Companies that manufacture tobacco products (revenues greater than 5%) are excluded.
ESG rating evaluation
The Managers also draw on the analysis of an external provider, which has dedicated resources and teams with ESG-related experience. The provider assigns ESG ratings to target investments based on the analysis of 37 environmental, social and governance criteria, comprising 16 generic criteria and 21 criteria specific to the different sectors and several data providers. The ESG ratings received are converted by applying a rating grid specific to the Managers on a scale of 0 (lowest rating) to 100 (highest rating).
This analysis enables the implementation of a rigorous investment selection process that excludes companies that comply neither with the ESG policy of the group to which the Management Company belongs, nor with international conventions and internationally recognised regulatory frameworks or national regulatory frameworks.
This is the case, for example, with:
- • Any investment in companies involved in the manufacture, sale or storage of anti-personnel mines and cluster bombs, or services related thereto, in accordance with the Ottawa Treaty and the Oslo Convention;
- • Companies producing, storing and selling chemical weapons, biological weapons or depleted uranium weapons;
- • Companies that seriously and repeatedly breach one or more of the 10 principles of the Global Compact, without credible remedial action.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy are as follows:
- The application of the above exclusion list;
- Systematic application of the ESG rating when analysing each security;
- At least 90% of the portfolio must have an ESG rating, excluding deposits, cash and borrowings,
- The portfolio's average ESG rating must be higher than the ESG rating of the investment universe or the benchmark.

ristics
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

Not applicable (N/A)
- What is the policy to assess good governance practices of the investee companies?

The governance criteria considered in the ESG rating as well as the exclusions help ensure that target issuers have good governance practices. These criteria make it possible to ensure, in particular, that the Sub-Fund does not contribute to the violation of human or labour rights, corruption or other actions that could be considered unethical. This approach is based on global standards and principles, which include (but are not limited to) the United Nations Global Compact, the OECD Guidelines for Multinational Enterprises, the UN Guiding Principles on Business and Human Rights.
In addition, the Sub-Fund strives to promote the good governance of these issuing entities by considering the issuer's governance.
What is the asset allocation planned for this financial product?
A minimum of 65% of assets will be invested in issuers that are aligned with the E/S characteristics promoted (#1 Aligned with the E/S characteristics); among these investments, those considered sustainable investments will represent at least 10% of assets (#1A Sustainable). The rest (35%) will consist of cash, cash equivalents as well as unscreened investments and will not be aligned with the E/S characteristics promoted (#2 Other).
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

Not Applicable (N/A).
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The Sub-Fund is currently not committed to investing in a sustainable investment within the meaning of the EU taxonomy, but only within the meaning of the sustainable finance disclosure regulation ("SFDR"). However, this position is maintained under review as the underlying rules are finalized and the availability of reliable data increases over time. As a result, the alignment of this Sub-Fund's investments with the EU taxonomy has not been calculated and has therefore been considered as constituting 0% of the portfolio.
- What is the minimum share of investments in transitional and enabling activities?

As the Sub-Fund does not commit to making sustainable investments within the meaning of the EU taxonomy, the minimum share of investments in transitional and enabling activities within the meaning of the EU taxonomy is therefore also set at 0%.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The Sub-fund undertakes to make at least 10% sustainable investments whose environmental objective is in line with SFDR. These investments could be aligned with the EU taxonomy, but the Manager is not currently in a position to specify the exact proportion of the Sub-Fund's underlying investments that take into account the EU criteria for environmentally sustainable economic activities. However, this position will be maintained under review as the underlying rules will be finalized and the availability of reliable data will increase over time.
What is the minimum share of socially sustainable investments?
Not Applicable (N/A).
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
Category "#2 Other" consists of unscreened investments for diversification purposes, investments for which all data is not available or cash held in the form of ancillary liquid assets. There are no minimum environmental or social guarantees for such investments.
Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes?
| Not Applicable (N/A). |
| --- |
|  | Where can I find more product specific information online? More product-specific information can be found on the website: www.ca-indosuez.com/fr/pages/ca-indosuez-wealth-asset-management Réglementation SFDR |

| Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852 |
| --- |
|  | Product name: Euro Value ("Sub-Fund") | Legal entity identifier: 549300F00KE3D5E2PG50 |
| Environmental and/or social characteristics |
|  |  |
|  | What environmental and/or social characteristics are promoted by this financial product? |
|  | The environmental and/or social characteristics ("E/S"), promoted by the Sub-fund, consist in investing primarily in high-ESG profile companies, based on a best-in-class approach, while excluding companies involved in the coal and tobacco industries in particular. Coal policy The following exclusion thresholds apply to all companies: - Companies developing or planning to develop new thermal coal capacities along the entire value chain (producers, extractors, power plants, transport infrastructure);
- Companies deriving more than 25% of their revenues from thermal coal extraction;
- Companies with a thermal coal extraction of 100 million tonnes or more with no intention of reducing the same;
- All companies whose income from thermal coal extraction and production of electricity from thermal coal exceeds 50% of the total income without analysis;
- All companies operating in thermal coal extraction and electricity production from thermal coal whose threshold falls between 25% and 50% of their income and whose energy transition score is low.
 Tobacco policy Companies that manufacture tobacco products (revenues greater than 5%) are excluded. |

|  | ESG rating evaluation The Managers also draw on the analysis of an external provider, which has dedicated resources and teams with ESG-related experience. The provider assigns ESG ratings to target investments based on the analysis of 37 environmental, social and governance criteria, comprising 16 generic criteria and 21 criteria specific to the different sectors and several data providers. The ESG ratings received are converted by applying a rating grid specific to the Managers on a scale of 0 (lowest rating) to 100 (highest rating). This analysis enables the implementation of a rigorous investment selection process that excludes companies that comply neither with the ESG policy of the group to which the Management Company belongs, nor with international conventions and internationally recognised regulatory frameworks or national regulatory frameworks. No benchmark has been designated for the purpose of achieving the E/S characteristics promoted by the Sub- fund. |
| --- | --- |
|  | - What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
 |
|  | In order to measure the achievement of the above-mentioned E/S characteristics, the Sub-fund will use the following sustainability indicators: - Percentage of issuers covered by an ESG rating methodology (at least 90%);
- Average ESG rating of the portfolio;
- Average ESG rating of the initial universe;
- Difference between the portfolio's average ESG rating and the average ESG rating of the initial universe;
- The portion of the investment universe excluded following the implementation of the ESG strategy.
 |
|  | - What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
 |
|  | The aim of sustainable investments is to invest in target issuers with two objectives: - follow best environmental and social practices; and
- not generate any products or services that harm the environment or society.
 It was established that "contributing to long-term sustainability criteria" applicable to issuers meant that they had to be exemplary in their sector in terms of at least one environmental or social factor. The definition of an exemplary issuer in its sector is based on the ESG rating methodology used to measure the ESG performance of the issuer. In order to qualify as "exemplary", an issuer must be part of the top third of the companies in its business sector in terms of at least one environmental or social factor. An issuer meets these long-term sustainability criteria if it is not significantly exposed to transactions that are incompatible with said criteria (e.g. tobacco, weapons, betting, coal, aviation, meat production, fertilizers and pesticide manufacturing, single-use plastic production). |
|  | - How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
 |
| The DNSH (Do No Significant Harm) principle is tested based on the indicators of the Principal Adverse Impacts (such as the issuer's GHG emission intensity) through a combination of indicators (e.g. carbon footprint) and specific thresholds or rules (e.g., the issuer's carbon footprint cannot be in the lower decile of the sector). In addition to these criteria specifically established for this test, the Manager takes into account certain indicators of the Principal Adverse Impacts in its exclusion policy. This methodology does not currently take into account all the indicators of the Principal Adverse Impacts listed in Appendix 1 of the Commission Delegated Regulation (EU) 22/2018 in this first DNSH test, but the methodology will gradually integrate these indicators as the quality and scope of the data improve. In addition to the sustainability factors covered by the first test, a second test has been defined to verify that the issuer's environmental or social impact is not among the worst in the sector. |
| -  How have the indicators of adverse impacts been taken into account? |
|  | These indicators were taken into account through their monitoring (e.g., the issuer's GHG emission intensity). This monitoring is based on the combination of indicators (e.g., carbon footprint) and specific thresholds or rules (e.g., the target's carbon footprint cannot be in the lower decile of the sector). In addition to these criteria specifically established for this test, the Manager takes into account certain indicators of the Principal Adverse Impacts in its exclusion policy. This methodology does not currently take into account all the indicators of the |

Principal Adverse Impacts listed in Appendix 1 of the Commission Delegated Regulation (EU) 22/2018 in this first DNSH test, but the methodology will gradually integrate these indicators as the quality and scope of the data improve.
- 
To what extent do the sustainable investments comply with the OECD Guidelines for Multinational Enterprises and the United Nations Guiding Principles on Business and Human Rights?
The alignment with the OECD Guidelines for Multinational Enterprises and the United Nations Guiding Principles on Business and Human Rights is tested and ensured through the process of identifying sustainable investments. Through our ESG rating and exclusion policy, we review companies before including them in our investment universe.
Does this financial product consider principal adverse impacts on sustainability factors?
☒ Yes, the Sub-Fund considers the Principal Adverse Impacts on Sustainability Factors as follows:
| # | Adverse Impact Indicator | Approach |
| --- | --- | --- |
| 1 | GHG emissions (levels 1, 2 and 3) | ESG rating and voting policy |
| 2 | Carbon footprint | ESG rating and voting policy |
| 3 | GHG emission intensity of the companies benefiting from the investments | ESG rating and voting policy |
| 4 | Exposure to companies operating in the fossil fuel sector | ESG Rating, exclusion policy and voting |
| 5 | Share  of  non-renewable  energy consumption and production | ESG rating and voting policy |
| 6 | Energy consumption intensity by sector with a high climate impact | ESG rating and voting policy |
| 7 | Activities with an adverse impact on biodiversity-sensitive areas | ESG rating |
| 8 | Discharges into water | ESG rating |
| 9 | Ratio  of  hazardous  waste  and radioactive waste | ESG rating |
| 10 | Violations of the United Nations Global  Compact  principles  and OECD Guidelines for Multinational Enterprises | Exclusion policy and voting policy |
| 11 | Absence of processes and compliance mechanisms to monitor compliance with the United Nations Global Compact principles and OECD Guidelines for Multinational Enterprises | Voting policy |
| 12 | Uncorrected pay gap between men and women | Voting policy |
| 13 | Diversity within governance bodies | Voting policy |
| 14 | Exposure to controversial weapons (anti-personnel	mines,	cluster | Exclusion policy |

|  | munitions, chemical weapons or biological weapons) |  |
| --- | --- | --- |
| 15 | GHG emission intensity | ESG rating |
| 16 | Investment countries experiencing violations of social standards | Exclusion policy |

Further information on how the Principal Adverse Impacts on Sustainability Factors has been taken into account will be available in the Sub-Fund's periodic reports.
- NoWhat investment strategy does this financial product follow?

The Sub-fund follows targeted sector-based exclusions specific to the coal and tobacco industries:
Coal policy
The following exclusion thresholds apply to all companies:
- Companies developing or planning to develop new thermal coal capacities along the entire value chain (producers, extractors, power plants, transport infrastructure);
- Companies deriving more than 25% of their revenues from thermal coal extraction;
- Companies with a thermal coal extraction of 100 million tonnes or more with no intention of reducing the same;
- All companies whose income from thermal coal extraction and production of electricity from thermal coal exceeds 50% of the total income without analysis;
- All companies operating in thermal coal extraction and electricity production from thermal coal whose threshold falls between 25% and 50% of their income and whose energy transition score is low.

Tobacco policy
Companies that manufacture tobacco products (revenues greater than 5%) are excluded.
ESG rating evaluation
The Managers also draw on the analysis of an external provider, which has dedicated resources and teams with ESG-related experience. The provider assigns ESG ratings to target investments based on the analysis of 37 environmental, social and governance criteria, comprising 16 generic criteria and 21 criteria specific to the different sectors and several data providers. The ESG ratings received are converted by applying a rating grid specific to the Managers on a scale of 0 (lowest rating) to 100 (highest rating).
This analysis enables the implementation of a rigorous investment selection process that excludes companies that comply neither with the ESG policy of the group to which the Management Company belongs, nor with international conventions and internationally recognised regulatory frameworks or national regulatory frameworks.
This is the case, for example, with:
- • Any investment in companies involved in the manufacture, sale or storage of anti-personnel mines and cluster bombs, or services related thereto, in accordance with the Ottawa Treaty and the Oslo Convention;
- • Companies producing, storing and selling chemical weapons, biological weapons or depleted uranium weapons;
- • Companies that seriously and repeatedly breach one or more of the 10 principles of the Global Compact, without credible remedial action.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy are as follows:
- The application of the above exclusion list;
- Systematic application of the ESG rating when analysing each security;
- At least 90% of the portfolio must have an ESG rating, excluding deposits, cash and borrowings,
- The portfolio's average ESG rating must be higher than the ESG rating of the investment universe or the benchmark.
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

ristics
Not applicable (N/A)
- What is the policy to assess good governance practices of the investee companies?

The governance criteria considered in the ESG rating as well as the exclusions help ensure that target issuers have good governance practices. These criteria make it possible to ensure, in particular, that the Sub-Fund does not contribute to the violation of human or labour rights, corruption or other actions that could be considered unethical. This approach is based on global standards and principles, which include (but are not limited to) the United Nations Global Compact, the OECD Guidelines for Multinational Enterprises, the UN Guiding Principles on Business and Human Rights.
In addition, the Sub-Fund strives to promote the good governance of these issuing entities by considering the issuer's governance.
What is the asset allocation planned for this financial product?
A minimum of 65% of assets will be invested in issuers that are aligned with the E/S characteristics promoted (#1 Aligned with the E/S characteristics); among these investments, those considered sustainable investments will represent at least 10% of assets (#1A Sustainable). The rest (35%) will consist of cash, cash equivalents as well as unscreened investments and will not be aligned with the E/S characteristics promoted (#2 Other).
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

Not Applicable (N/A).
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The Sub-Fund is currently not committed to investing in a sustainable investment within the meaning of the EU taxonomy, but only within the meaning of the sustainable finance disclosure regulation ("SFDR"). However, this position is maintained under review as the underlying rules are finalized and the availability of reliable data increases over time. As a result, the alignment of this Sub-Fund's investments with the EU taxonomy has not been calculated and has therefore been considered as constituting 0% of the portfolio.
2. Alignement des investissements sur la taxinomie, obligations
souveraines in
0
c
%
luses*
Taxonomy- aligned
Other investments
100%
- What is the minimum share of investments in transitional and enabling activities?

As the Sub-Fund does not commit to making sustainable investments within the meaning of the EU taxonomy, the minimum share of investments in transitional and enabling activities within the meaning of the EU taxonomy is therefore also set at 0%.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The Sub-fund undertakes to make at least 10% sustainable investments whose environmental objective is in line with SFDR. These investments could be aligned with the EU taxonomy, but the Manager is not currently in a position to specify the exact proportion of the Sub-Fund's underlying investments that take into account the EU criteria for environmentally sustainable economic activities. However, this position will be maintained under review as the underlying rules will be finalized and the availability of reliable data will increase over time.
What is the minimum share of socially sustainable investments?
Not Applicable (N/A).
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
Category "#2 Other" consists of unscreened investments for diversification purposes, investments for which all data is not available or cash held in the form of ancillary liquid assets. There are no minimum environmental or social guarantees for such investments.
| Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes? |
| --- |
| Not Applicable (N/A). |
|  | Where can I find more product specific information online? More product-specific information can be found on the website: www.ca-indosuez.com/fr/pages/ca-indosuez-wealth-asset-management Réglementation SFDR |

|  | Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852 |
| --- | --- |
| Product name: Global Trends ("Sub-Fund") | Legal entity identifier: 549300RXDVRP16RPTZ95 |
|  | Environmental and/or social characteristics |
|  |
|  | What environmental and/or social characteristics are promoted by this financial product? |
|  | The environmental and/or social characteristics ("E/S"), promoted by the Sub-fund, consist in investing primarily in high-ESG profile companies, based on a best-in-class approach, while excluding companies involved in the coal and tobacco industries in particular. Coal policy The following exclusion thresholds apply to all companies: - Companies developing or planning to develop new thermal coal capacities along the entire value chain (producers, extractors, power plants, transport infrastructure);
- Companies deriving more than 25% of their revenues from thermal coal extraction;
- Companies with a thermal coal extraction of 100 million tonnes or more with no intention of reducing the same;
- All companies whose income from thermal coal extraction and production of electricity from thermal coal exceeds 50% of the total income without analysis;
- All companies operating in thermal coal extraction and electricity production from thermal coal whose threshold falls between 25% and 50% of their income and whose energy transition score is low.
 Tobacco policy Companies that manufacture tobacco products (revenues greater than 5%) are excluded. ESG rating evaluation The Managers also draw on the analysis of an external provider, which has dedicated resources and teams with ESG-related experience. The provider assigns ESG ratings to target investments based on the analysis |

|  | of 37 environmental, social and governance criteria, comprising 16 generic criteria and 21 criteria specific to the different sectors and several data providers. The ESG ratings received are converted by applying a rating grid specific to the Managers on a scale of 0 (lowest rating) to 100 (highest rating). This analysis enables the implementation of a rigorous investment selection process that excludes companies that comply neither with the ESG policy of the group to which the Management Company belongs, nor with international conventions and internationally recognised regulatory frameworks or national regulatory frameworks. No benchmark has been designated for the purpose of achieving the E/S characteristics promoted by the Sub- fund. |
| --- | --- |
|  | - What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
 |
|  | In order to measure the achievement of the above-mentioned E/S characteristics, the Sub-fund will use the following sustainability indicators: - Percentage of issuers covered by an ESG rating methodology (at least 90%);
- Average ESG rating of the portfolio;
- Average ESG rating of the initial universe;
- Difference between the portfolio's average ESG rating and the average ESG rating of the initial universe;
- The portion of the investment universe excluded following the implementation of the ESG strategy.
 |
|  | - What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
 |
|  | The aim of sustainable investments is to invest in target issuers with two objectives: - follow best environmental and social practices; and
- not generate any products or services that harm the environment or society.
 It was established that "contributing to long-term sustainability criteria" applicable to issuers meant that they had to be exemplary in their sector in terms of at least one environmental or social factor. The definition of an exemplary issuer in its sector is based on the ESG rating methodology used to measure the ESG performance of the issuer. In order to qualify as "exemplary", an issuer must be part of the top third of the companies in its business sector in terms of at least one environmental or social factor. An issuer meets these long-term sustainability criteria if it is not significantly exposed to transactions that are incompatible with said criteria (e.g. tobacco, weapons, betting, coal, aviation, meat production, fertilizers and pesticide manufacturing, single-use plastic production). |
|  | - How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
 |
| The DNSH (Do No Significant Harm) principle is tested based on the indicators of the Principal Adverse Impacts (such as the issuer's GHG emission intensity) through a combination of indicators (e.g. carbon footprint) and specific thresholds or rules (e.g., the issuer's carbon footprint cannot be in the lower decile of the sector). In addition to these criteria specifically established for this test, the Manager takes into account certain indicators of the Principal Adverse Impacts in its exclusion policy. This methodology does not currently take into account all the indicators of the Principal Adverse Impacts listed in Appendix 1 of the Commission Delegated Regulation (EU) 22/2018 in this first DNSH test, but the methodology will gradually integrate these indicators as the quality and scope of the data improve. In addition to the sustainability factors covered by the first test, a second test has been defined to verify that the issuer's environmental or social impact is not among the worst in the sector. |
| -  How have the indicators of adverse impacts been taken into account? |
|  | These indicators were taken into account through their monitoring (e.g., the issuer's GHG emission intensity). This monitoring is based on the combination of indicators (e.g., carbon footprint) and specific thresholds or rules (e.g., the target's carbon footprint cannot be in the lower decile of the sector). In addition to these criteria specifically established for this test, the Manager takes into account certain indicators of the Principal Adverse Impacts in its exclusion policy. This methodology does not currently take into account all the indicators of the Principal Adverse Impacts listed in Appendix 1 of the Commission Delegated Regulation (EU) 22/2018 in this |

first DNSH test, but the methodology will gradually integrate these indicators as the quality and scope of the data improve.
- 
To what extent do the sustainable investments comply with the OECD Guidelines for Multinational Enterprises and the United Nations Guiding Principles on Business and Human Rights?
The alignment with the OECD Guidelines for Multinational Enterprises and the United Nations Guiding Principles on Business and Human Rights is tested and ensured through the process of identifying sustainable investments. Through our ESG rating and exclusion policy, we review companies before including them in our investment universe.
Does this financial product consider principal adverse impacts on sustainability factors?
☒ Yes, the Sub-Fund considers the Principal Adverse Impacts on Sustainability Factors as follows:
| # | Adverse Impact Indicator | Approach |
| --- | --- | --- |
| 1 | GHG emissions (levels 1, 2 and 3) | ESG rating and voting policy |
| 2 | Carbon footprint | ESG rating and voting policy |
| 3 | GHG  emission  intensity  of  the companies benefiting from the investments | ESG rating and voting policy |
| 4 | Exposure to companies operating in the fossil fuel sector | ESG Rating, exclusion policy and voting |
| 5 | Share  of  non-renewable  energy consumption and production | ESG rating and voting policy |
| 6 | Energy consumption intensity by sector with a high climate impact | ESG rating and voting policy |
| 7 | Activities with an adverse impact on biodiversity-sensitive areas | ESG rating |
| 8 | Discharges into water | ESG rating |
| 9 | Ratio of hazardous waste and radioactive waste | ESG rating |
| 10 | Violations of the United Nations Global  Compact  principles  and OECD Guidelines for Multinational Enterprises | Exclusion policy and voting policy |
| 11 | Absence of processes and compliance mechanisms to monitor compliance with the United Nations Global  Compact  principles  and OECD Guidelines for Multinational Enterprises | Voting policy |
| 12 | Uncorrected pay gap between men and women | Voting policy |
| 13 | Diversity within governance bodies | Voting policy |
| 14 | Exposure to controversial weapons (anti-personnel	mines,	cluster | Exclusion policy |

|  | munitions, chemical weapons or biological weapons) |  |
| --- | --- | --- |
| 15 | GHG emission intensity | ESG rating |
| 16 | Investment countries experiencing violations of social standards | Exclusion policy |

Further information on how the Principal Adverse Impacts on Sustainability Factors has been taken into account will be available in the Sub-Fund's periodic reports.
- NoWhat investment strategy does this financial product follow?

The Sub-fund follows targeted sector-based exclusions specific to the coal and tobacco industries:
Coal policy
The following exclusion thresholds apply to all companies:
- Companies developing or planning to develop new thermal coal capacities along the entire value chain (producers, extractors, power plants, transport infrastructure);
- Companies deriving more than 25% of their revenues from thermal coal extraction;
- Companies with a thermal coal extraction of 100 million tonnes or more with no intention of reducing the same;
- All companies whose income from thermal coal extraction and production of electricity from thermal coal exceeds 50% of the total income without analysis;
- All companies operating in thermal coal extraction and electricity production from thermal coal whose threshold falls between 25% and 50% of their income and whose energy transition score is low.

Tobacco policy
Companies that manufacture tobacco products (revenues greater than 5%) are excluded.
ESG rating evaluation
The Managers also draw on the analysis of an external provider, which has dedicated resources and teams with ESG-related experience. The provider assigns ESG ratings to target investments based on the analysis of 37 environmental, social and governance criteria, comprising 16 generic criteria and 21 criteria specific to the different sectors and several data providers. The ESG ratings received are converted by applying a rating grid specific to the Managers on a scale of 0 (lowest rating) to 100 (highest rating).
This analysis enables the implementation of a rigorous investment selection process that excludes companies that comply neither with the ESG policy of the group to which the Management Company belongs, nor with international conventions and internationally recognised regulatory frameworks or national regulatory frameworks.
This is the case, for example, with:
- • Any investment in companies involved in the manufacture, sale or storage of anti-personnel mines and cluster bombs, or services related thereto, in accordance with the Ottawa Treaty and the Oslo Convention;
- • Companies producing, storing and selling chemical weapons, biological weapons or depleted uranium weapons;
- • Companies that seriously and repeatedly breach one or more of the 10 principles of the Global Compact, without credible remedial action.
- What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?

The binding elements of the investment strategy are as follows:
- The application of the above exclusion list;
- Systematic application of the ESG rating when analysing each security;
- At least 90% of the portfolio must have an ESG rating, excluding deposits, cash and borrowings,
- The portfolio's average ESG rating must be higher than the ESG rating of the investment universe or the benchmark.

ristics
- What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?

Not applicable (N/A)
- What is the policy to assess good governance practices of the investee companies?

The governance criteria considered in the ESG rating as well as the exclusions help ensure that target issuers have good governance practices. These criteria make it possible to ensure, in particular, that the Sub-Fund does not contribute to the violation of human or labour rights, corruption or other actions that could be considered unethical. This approach is based on global standards and principles, which include (but are not limited to) the United Nations Global Compact, the OECD Guidelines for Multinational Enterprises, the UN Guiding Principles on Business and Human Rights.
In addition, the Sub-Fund strives to promote the good governance of these issuing entities by considering the issuer's governance.
What is the asset allocation planned for this financial product?
A minimum of 60% of assets will be invested in issuers that are aligned with the E/S characteristics promoted (#1 Aligned with the E/S characteristics); among these investments, those considered sustainable investments will represent at least 10% of assets (#1A Sustainable). The rest (40%) will consist of cash, cash equivalents as well as unscreened investments and will not be aligned with the E/S characteristics promoted (#2 Other).
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

Not Applicable (N/A).
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The Sub-Fund is currently not committed to investing in a sustainable investment within the meaning of the EU taxonomy, but only within the meaning of the sustainable finance disclosure regulation ("SFDR"). However, this position is maintained under review as the underlying rules are finalized and the availability of reliable data increases over time. As a result, the alignment of this Sub-Fund's investments with the EU taxonomy has not been calculated and has therefore been considered as constituting 0% of the portfolio.
2. Alignement des investissements sur la taxinomie, obligations
souveraines in
0
c
%
luses*
Taxonomy- aligned
Other investments
100%
- What is the minimum share of investments in transitional and enabling activities?

As the Sub-Fund does not commit to making sustainable investments within the meaning of the EU taxonomy, the minimum share of investments in transitional and enabling activities within the meaning of the EU taxonomy is therefore also set at 0%.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The Sub-fund undertakes to make at least 10% sustainable investments whose environmental objective is in line with SFDR. These investments could be aligned with the EU taxonomy, but the Manager is not currently in a position to specify the exact proportion of the Sub-Fund's underlying investments that take into account the EU criteria for environmentally sustainable economic activities. However, this position will be maintained under review as the underlying rules will be finalized and the availability of reliable data will increase over time.
What is the minimum share of socially sustainable investments?
Not Applicable (N/A).
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
Category "#2 Other" consists of unscreened investments for diversification purposes, investments for which all data is not available or cash held in the form of ancillary liquid assets. There are no minimum environmental or social guarantees for such investments.
| Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes? |
| --- |
| Not Applicable (N/A). |
|  | Where can I find more product specific information online? More product-specific information can be found on the website: www.ca-indosuez.com/fr/pages/ca-indosuez-wealth-asset-management Réglementation SFDR |

|  | Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852 |
| --- | --- |
| Product name: Indosuez - Naos ("Sub-Fund") | Legal	entity	identifier: 9845004T142C55B09B43 |
|  | Environmental and/or social characteristics |
|  |
|  |
|  | What environmental and/or social characteristics are promoted by this financial product? |
|  | The promotion of environmental and social characteristics by the Sub-Fund consists of promoting, within each of the business sectors, companies that best address the environmental and social risks and factors they face and are able to adapt their models and strategies to these new challenges. The manager analyses each company from the perspective of environmental (E), social (S) and governance (G) issues prior to any investment based on external data supplemented by an internal analysis based on the manager's specific expertise. The management team is particularly vigilant to the progress made by companies, the commitments they make for the future and to any emerging controversies that could lead to rapid divestment. External data includes ESG ratings and analyses provided by a recognised market benchmark in the area of ESG analysis, indicators developed by specialist players and ESG research provided by brokers. ESG characteristics and Sustainability Risks associated with investments are assessed by the investment manager through: 1. An INTEGRATION approach favouring, within each business sector, companies that, based on the ESG ratings provided by the external source supplemented by internal analysis, best address the sustainability criteria or risks they face and adapt their models and strategies to these new challenges. The assessment is done on a case-by-case basis and on an intra-sector basis. |

| At least 90% of the portfolio (excluding bonds and other debt securities issued by public or quasi- public issuers and cash held on an ancillary basis) is covered by an ESG analysis. - An EXCLUSION policy consisting of a list based on strict exclusions for companies that do not comply with international conventions (Oslo/Ottawa and OFAC), a list based on country exclusions and a stock exclusion list defined based on ESG considerations.
 The latter stems from both an initial list of sub-sector exclusions related to controversial activities (tobacco, gambling, pornography, mining in particular from coal) and a second discretionary list, linked to the internal analysis of the company's ESG characteristics, this second list being reviewed every six months to take into account any progress made or disappointments observed. The ESG exclusion applies only to long positions in the portfolio. - A COMMITMENT approach reflected in a continuous and documented dialogue with the managers of the companies. Within this framework, the manager aims to encourage issuers to increasingly transparency and comparability on ESG issues and the specific objectives they can set on these issues in the medium and long term through direct dialogue and by partnering with market initiatives.
 The ESG commitment applies to both long and short positions in the portfolio. On an exceptional basis, the manager may select an investment opportunity even if its ESG rating is low (risk score greater than 30 depending on the external source), as certain investment decisions may therefore not comply with ESG criteria. However, this selection must remain exceptional and meet the following criteria: - the internal analysis carried out by the manager concludes that the company in question is subject to a high discount on its ESG rating;
- the company's management is committed to making the necessary changes to significantly improve its ESG risk score, without this being at the expense of the company's profitability;
- regular discussions with management are maintained.
 These investment decisions and the monitoring of these criteria will be reviewed more frequently by the manager. Finally, the manager actively engages in its investments, through a continuous and documented dialogue with companies invested and formalised in a policy of engagement. No benchmark has been designated for the purpose of achieving the Environmental or Social characteristics promoted by the Sub-fund. |
| --- |
| - What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
 |
| The sustainability indicators used to measure the attainment of each of the environmental or social characteristics promoted are the following: - Average ESG rating of the portfolio;
- Average ESG rating of the initial universe;
- Difference between the portfolio's average ESG rating and the average ESG rating of the initialuniverse.
 |
| - What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?
 |
| Not Applicable (N/A). |
| - How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective?
 |
| Not Applicable (N/A). |

Does this financial product consider principal adverse impacts on sustainability factors?
☒ Yes, the manager takes into account the principal adverse impacts ("Principal adverse impacts " or "PAI") applicable to the Sub-Fund's strategy. This integration of PAIs is reflected in the integration and exclusion approaches (normative and sectoral):
Integration: The purpose of conducting ESG analysis is to mitigate the principal adverse impacts on sustainability. Particular attention is paid to mitigating PAIs covering the trajectory of lower GHG emissions (PAI 1) and the working conditions of employees and in the value chain (PAI 10 and 11).
As regards GHG emissions, the reduction targets are analysed, their validation by an independent body (SBTi), the associated capital expenditure and the level of communication (reflected by the CDP rating) supporting their credibility.
With regard to working conditions, the manager is closely monitoring the international standards respected by companies (UNGP, OECD texts and the ILO) and their inclusion in a code of conduct, training provided for this purpose and due diligence practices, particularly in sectors most prone to forced labour and child labour problems (such as food production or clothing).
Exclusion: The exclusion policy covers the most significant risks related to sustainability factors and is applied in a binding and continuous manner. In particular, the exclusion policy targets many controversial weapons as well as companies that do not comply with the United Nations principles in the Global Compact, in connection with PAIs 10, 11 and 14 covering these aspects. The discretionary exclusion list is also updated regularly so that PAIs can be taken into account dynamically.
Further information on how the Principal Adverse Impacts on Sustainability Factors has been taken into account will be available in the Sub-Fund's periodic reports.
- NoWhat investment strategy does this financial product follow?

The manager analyses each company from the perspective of environmental (E), social (S) and governance
(G) issues prior to any investment based on external data supplemented by an internal analysis based on the manager's specific expertise. The management team is particularly vigilant to the progress made by companies, the commitments they make for the future and to any emerging controversies that could lead to rapid divestment.
External data includes ESG ratings and analyses provided by a recognised market benchmark in the area of ESG analysis, indicators developed by specialist players and ESG research provided by brokers.
ESG characteristics and Sustainability Risks associated with investments are assessed by the investment manager through:
1. An INTEGRATION approach favouring, within each business sector, companies that, based on the ESG ratings provided by the external source supplemented by internal analysis, best address the sustainability criteria or risks they face and adapt their models and strategies to these new challenges. The assessment is done on a case-by-case basis and on an intra-sector basis.
| At least 90% of the portfolio (excluding bonds and other debt securities issued by public or quasi- public issuers and cash held on an ancillary basis) is covered by an ESG analysis. - An EXCLUSION policy consisting of a list based on strict exclusions for companies that do not comply with international conventions (Oslo/Ottawa and OFAC), a list based on country exclusions and a stock exclusion list defined based on ESG considerations.
 The latter stems from both an initial list of sub-sector exclusions related to controversial activities (tobacco, gambling, pornography, mining in particular from coal) and a second discretionary list, linked to the internal analysis of the company's ESG characteristics, this second list being reviewed every six months to take into account any progress made or disappointments observed. The ESG exclusion applies only to long positions in the portfolio. - A COMMITMENT approach reflected in a continuous and documented dialogue with the managers of the companies. Within this framework, the manager aims to encourage issuers to increasingly transparency and comparability on ESG issues and the specific objectives they can set on these issues in the medium and long term through direct dialogue and by partnering with market initiatives.
 The ESG commitment applies to both long and short positions in the portfolio. On an exceptional basis, the manager may select an investment opportunity even if its ESG rating is low (risk score greater than 30 depending on the external source), as certain investment decisions may therefore not comply with ESG criteria. However, this selection must remain exceptional and meet the following criteria: - the internal analysis carried out by the manager concludes that the company in question is subject to a high discount on its ESG rating;
- the company's management is committed to making the necessary changes to significantly improve its ESG risk score, without this being at the expense of the company's profitability;
- regular discussions with management are maintained.
 These investment decisions and the monitoring of these criteria will be reviewed more frequently by the manager. |
| --- |
| - What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
 |
| The binding criteria used to select the Sub-Fund's investments include the following key elements: - Ensure that none of the Fund's long positions violate the Fund's exclusion policies.
- Ensure that the average of the ESG risk scores of the long portfolio is better than that of its investment universe, which is defined by the global equity market, with a preponderance over Europe.
 Potential inconsistencies or the unavailability of ESG data, particularly when provided by an external service provider, constitute methodological limits to the ESG rating process used. These are detailed in section 7, point 14 of the Prospectus. |
| - What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
 |
| Not Applicable (N/A). |
| - What is the policy to assess good governance practices of the investee companies?
 |

First, governance practices are taken into account in the Sub-Fund's integration policy, through the analysis of governance notes, particularly in terms of corporate governance (including: Board structure, remuneration policy, treatment of minority shareholders). In addition, the manager engages in regular dialogue with the management teams of the companies in which the Sub-Fund is invested to better understand all these aspects. This dialogue is a constructive approach by which the manager seeks to understand and analyse companies' issues and practices.
With the aim of investing in all sectors, the manager is particularly vigilant to the notion of transparency and quantified commitments by issuers regarding the progress envisaged over the coming years, ideally based on criteria that can be measured scientifically and that contribute materially to improving practices.
The manager has formalised its engagement policy in order to strengthen its approach to dialogue with the companies within its scope.
What is the asset allocation planned for this financial product?
stics
A minimum of 85% of long exposure (long positions) will be invested in issuers aligned with the E/S characteristics promoted (#1 Aligned with the E/S characteristics). The remainder, i.e. at most 15% of the portfolio's long exposure, the portfolio of short positions and the money market segment may consist of issuers that are not aligned with the E/S characteristics promoted (#2 Other).
- How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?

Derivatives are required to implement the long/short strategy of the Fund.
These derivatives are therefore either directly linked to an underlying asset (CFD on equities) thus enabling the integration of ESG characteristics in investment decisions, or associated with an index representative of the investment universe or of a given sector, in each case using a transparent approach for rating needs. Long and short positions are not offset in terms of ESG data (rating, CO2, carbon intensity).
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
This Sub-Fund currently does not undertake to invest in any sustainable investment within the meaning of the EU taxonomy. However, this position will be reviewed as the underlying rules will be finalized and the availability of reliable data will increase over time.
|  | 1. Alignement des investissements	2. Alignement des investissements sur la taxinomie, hors obligations		sur la taxinomie, obligations souveraines*	souveraines in 0 c % luses* Taxonomy-	0%	Taxonomy- aligned	aligned Other	100%	Other investments	investments 100% |
| --- | --- |
| - What is the minimum share of investments in transitional and enabling activities?
 |
| As the Sub-Fund does not commit to making sustainable investments within the meaning of the EU taxonomy, the minimum share of investments in transitional and enabling activities within the meaning of the EU taxonomy is therefore also set at 0%. |
|  |  | What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy? |
| This Sub-Fund promotes environmental and social characteristics but is not committed to making sustainable investments. Therefore it does not undertake to realise a minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy. |
|  | What is the minimum share of socially sustainable investments? |
| Not applicable (N/A). |
|  | What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards? |
|  | Investments in the "#2 Other" segment may be (i) instruments relating to the money market segment (debt securities and money market UCITS), (ii) cash on an ancillary basis, (ii) securities in a long position issued by issuers that are not aligned with the E/S characteristics promoted and (iii) securities constituting short positions. The money market segment and the securities making up the portfolio's short allocation are subject to an ESG analysis, but they are not subject to any specific minimum commitment. |

| Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes? |
| --- |
| Not Applicable (N/A). |
|  | Where can I find more product specific information online? More product-specific information can be found on the website: www.ca-indosuez.com/fr/pages/ca-indosuez-wealth-asset-management Réglementation SFDR |

Template pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name: Short Term Euro (“Sub-Fund”)	Legal entity identifier:
549300S5E6ZFV8RDUD13

Translation (ENFR, 2023-01-01):
# Caractéristiques environnementales et/ou sociales
Quelles caractéristiques environnementales et/ou sociales sont promues par ce produit financier ?
Les caractéristiques environnementales et/ou sociales (« E/S »), promues par le Compartiment, consistent à investir principalement dans des entreprises présentant des profils ESG supérieurs, sur la base d'une approche " best-in-class ", tout en excluant les sociétés impliquées dans le les industries du charbon et du tabac plus précisément.
Politique charbon
Les seuils d'exclusion suivants s'appliquent à toutes les entreprises:
- Les entreprises développant ou prévoyant de développer de nouvelles capacités de charbon thermique tout au long de la chaîne de valeur (producteurs, extracteurs, centrales électriques, infrastructures de transport),
- Les entreprises tirant plus de 25% de leurs revenus de l'extraction de charbon thermique,
- Les entreprises réalisant une extraction de charbon thermique de 100 millions de tonnes ou plus sans intention de réduction,
- Toutes les entreprises dont le revenu provenant de l'extraction de charbon thermique et de la production d'électricité à partir de charbon thermique dépasse 50% du revenu total sans analyse,
- Toutes les entreprises d'extraction de charbon thermique et de production d'électricité à partir de charbon thermique dont le seuil se situe entre 25% et 50% de leurs revenus et dont le score de transition énergétique est faible.

Politique en matière de tabac
Les entreprises qui fabriquent des produits du tabac (revenu supérieur à 5%) sont exclues.
Evaluation Note ESG
Par ailleurs, les gestionnaires s’appuient sur l’analyse d’un provider externe qui bénéficie de ressources et d’équipes dédiées et expérimentées en matière d’ESG. Le provider attribue des notes ESG aux investissements-cibles qui reposent sur
|  | l’analyse de 37 critères environnementaux, sociaux et de gouvernance, comprenant 16 critères génériques et 21 critères spécifiques aux différents secteurs et de plusieurs fournisseurs de données. Les notes ESG reçues sont transformées en appliquant une grille de notation propre aux gestionnaires sur une échelle de 0 (note la plus basse) à 100 (note la plus élevée). Cette analyse permet de mettre en place un processus de sélection et d’investissement rigoureux qui exclut les entreprises qui ne sont conformes ni à la politique ESG du groupe auquel appartient la Société de Gestion, ni aux conventions internationales et aux cadres reconnus sur le plan international, ni aux cadres de régulations nationales. Aucun benchmark de référence n'a été désigné afin d'atteindre les caractéristiques E/S promues par le Compartiment. |
| --- | --- |
|  | - Quels sont les indicateurs de durabilité utilisés pour mesurer la réalisation de chacune descaractéristiques environnementales ou sociales promues par le produit financier ?
 Afin de mesurer la réalisation des caractéristiques E/S mentionnées ci-dessus, le Compartiment utilisera les indicateurs de durabilité suivants : - Pourcentage d'émetteurs couverts par une méthodologie de notation ESG (90% minimum)
- Note ESG moyenne du portefeuille,
- Note ESG moyenne de l'univers initial,
- Différence entre la note ESG moyenne du portefeuille et la note ESG moyenne de l'univers initial,
- La part de l'univers d'investissement exclue à la suite de la mise en place de la stratégie ESG.
- Quels sont les objectifs des investissements durables que le produit financier entend partiellement réaliser et comment l’investissement durable contribue-t-il à ces objectifs ?
 |
|  | L’objectif des investissements durables est d’investir dans des émetteurs cibles qui visent deux buts : - suivre des pratiques environnementales et sociales exemplaires ; et
- ne générer aucun produit ni service qui nuisent à l’environnement ou à la société.
 Il a été établi que « contribuer à des critères de durabilité à long terme » signifie, au niveau des émetteurs, qu’ils doivent être exemplaires, dans leur secteur, au titre d’au moins un facteur environnemental ou social. La définition d’un émetteur exemplaire dans son secteur repose sur la méthodologie de notation ESG utilisée qui a pour but de mesurer la performance ESG d’un émetteur. Afin d’être qualifié d’ « exemplaire », un émetteur doit faire partie du premier tiers des entreprises de son secteur d’activités au titre d’au moins un facteur environnemental ou social. Un émetteur remplit ces critères de durabilité à long terme s’il n’est pas exposé de manière significative à des opérations incompatibles avec les dits critères (par ex. tabac, armement, paris, charbon, aviation, production de viande, engrais et fabrication de pesticides, production de plastique à usage unique). - Dans quelle mesure les investissements durables que le produit financier entend partiellement réaliser ne causent-ils pas de préjudice important à un objectif d’investissement durable sur le plan environnemental ou social ?
 |
| Le principe de ne pas causer de préjudice important, aussi appelé, test DNSH (Do Not Significantly Harm), se base sur les indicateurs des Principales Incidences Négatives (telle que l’intensité des émissions à effet de serre de l’émetteur) via une combinaison d’indicateurs (p.ex. l’empreinte carbone) et de seuils ou règles spécifiques (p.ex. l’empreinte carbone de l’émetteur ne peut pas être dans le décile inférieur du secteur). Outre ces critères établis spécifiquement pour ce test, le gestionnaire tient compte de certains indicateurs des Principales Incidences Négatives dans le cadre de sa politique d’exclusion. Cette méthodologie ne prend pas actuellement en compte tous les indicateurs des Principales Incidences Négatives repris à l’Annexe 1 du Règlement Délégué (UE) 22/2018 de la Commission dans le cadre de ce premier test DNSH mais la méthodologie intégrera progressivement ces indicateurs au fur et à mesure que la qualité et l’étendue des données s’améliorent. En sus des facteurs de durabilité couverts par le premier test, un deuxième test a été défini afin de vérifier que l’émetteur n’a pas un impact environnemental ou social parmi les pires du secteur. |

- Comment les indicateurs concernant les incidences négatives ont-ils été pris en considération ?

Ces indicateurs ont été pris en compte par le biais de leur surveillance (p.ex. l’intensité des émissions à effet de serre de l’émetteur). Cette surveillance s’organise autour de la combinaison d’indicateurs (p.ex. l’empreinte carbone) et de seuils ou règles spécifiques (p.ex. l’empreinte carbone de la cible ne peut pas être dans le décile inférieur du secteur). Outre ces critères établis spécifiquement pour ce test, le gestionnaire tient compte de certains indicateurs des Principales Incidences Négatives dans le cadre de sa politique d’exclusion. Cette méthodologie ne prend pas actuellement en compte tous les indicateurs des Principales Incidences Négatives repris à l’Annexe 1 du Règlement Délégué (UE) 22/2018 de la Commission dans le cadre de ce premier test DNSH mais la méthodologie intégrera progressivement ces indicateurs au fur et à mesure que la qualité et l’étendue des données s’améliorent.
- Dans quelle mesure les investissements durables sont-ils conformes aux principes directeurs de l’OCDE à l’intention des entreprises multinationales et aux principes directeurs des Nations unies relatifs auxentreprises et aux droits de l’homme ?

L'alignement sur les principes directeurs de l'OCDE à l'intention des entreprises multinationales et sur les principes directeurs des Nations unies relatifs aux entreprises et aux droits de l'homme est testé et assuré dans le cadre du processus d'identification des investissements durables. Au travers de notre notation ESG et de notre politique d'exclusion, nous analysons les entreprises avant de les inclure dans notre univers d'investissement.
Ce produit financier prend-il en considération les principales incidences négatives sur les facteurs de durabilité ?
☒ Oui, le Compartiment considère les Principales Incidences Négatives sur les facteurs de durabilité comme suit
:
| # | Indicateur d'incidences négatives | Approche |
| --- | --- | --- |
| 1 | Emissions GES (niveaux 1, 2 et 3) | Notation ESG et politique de vote |
| 2 | Empreinte carbone | Notation ESG et politique de vote |
| 3 | Intensité	de	GES	des	sociétés bénéficiaires des investissements | Notation ESG et politique de vote |
| 4 | Exposition à des sociétés actives dans le secteur des combustibles fossiles | Notation ESG, politique d’exclusion et politique de vote |
| 5 | Part de consommation et de production d'énergie non renouvelable | Notation ESG et politique de vote |
| 6 | Intensité de consommation d'énergie par secteur à fort impact climatique | Notation ESG et politique de vote |
| 7 | Activités ayant une incidence négative sur des zones sensibles sur le plan de la biodiversité | Notation ESG |
| 8 | Rejets dans l'eau | Notation ESG |
| 9 | Ratio de déchets dangereux et de déchets radioactifs | Notation ESG |
| 10 | Violations des principes du pacte mondial des Nations unies et des principes directeurs de l'OCDE pour les entreprises multinationales | Politique d'exclusion et politique de vote |
| 11 | Absence de processus et de mécanismes de conformité permettant de contrôler le respect des principes du Pacte mondial des Nations unies et des principes  directeurs  de  l'OCDE  à | Politique de vote |

|  | l'intention	des	entreprises multinationales |  |
| --- | --- | --- |
| 12 | Ecart de rémunération entre hommes et femmes non corrigé | Politique de vote |
| 13 | Mixité au sein des organes	de gouvernance | Politique de vote |
| 14 | Exposition à des armes controversées (mines antipersonnel, armes à sous- munitions, armes chimiques ou armes biologiques) | Politique d'exclusion |
| 15 | Intensité de GES | Notation ESG |
| 16 | Pays d'investissement connaissant des violations de normes sociales | Politique d'exclusion |

Plus d'informations sur la manière dont les Principales Incidences Négatives sur les facteurs de durabilité ont été pris en compte seront disponibles dans les rapports périodiques du Compartiment.
- NonQuelle stratégie d’investissement ce produit financier suit-il ?

Le Compartiment suit des exclusions sectorielles ciblées spécifiques aux industries du charbon et du tabac :
Politique charbon
Les seuils d'exclusion suivants s'appliquent à toutes les entreprises:
- Les entreprises développant ou prévoyant de développer de nouvelles capacités de charbon thermique tout au long de la chaîne de valeur (producteurs, extracteurs, centrales électriques, infrastructures de transport),
- Les entreprises tirant plus de 25% de leurs revenus de l'extraction de charbon thermique,
- Les entreprises réalisant une extraction de charbon thermique de 100 millions de tonnes ou plus sans intention de réduction,
- Toutes les entreprises dont le revenu provenant de l'extraction de charbon thermique et de la production d'électricité à partir de charbon thermique dépasse 50% du revenu total sans analyse,
- Toutes les entreprises d'extraction de charbon thermique et de production d'électricité à partir de charbon thermique dont le seuil se situe entre 25% et 50% de leurs revenus et dont le score de transition énergétique est faible.

Politique en matière de tabac
Les entreprises qui fabriquent des produits du tabac (revenu supérieur à 5%) sont exclues.
Evaluation Note ESG
Par ailleurs, les gestionnaires s’appuient sur l’analyse d’un provider externe qui bénéficie de ressources et d’équipes dédiées et expérimentées en matière d’ESG. Le provider attribue des notes ESG aux investissements-cibles qui reposent sur l’analyse de 37 critères environnementaux, sociaux et de gouvernance, comprenant 16 critères génériques et 21 critères spécifiques aux différents secteurs et de plusieurs fournisseurs de données. Les notes ESG reçues sont transformées en appliquant une grille de notation propre aux gestionnaires sur une échelle de 0 (note la plus basse) à 100 (note la plus élevée).
Cette analyse permet de mettre en place un processus de sélection et d’investissement rigoureux qui exclut les entreprises qui ne sont conformes ni à la politique ESG du groupe auquel appartient la Société de Gestion, ni aux conventions internationales et aux cadres reconnus sur le plan international, ni aux cadres de régulations nationales.
C’est le cas par exemple pour :
- Tout investissement direct dans les entreprises impliquées dans la fabrication, le commerce, le stockage ou les services pour les mines antipersonnel, et les bombes à sous-munitions, en conformité avec les conventionsd’Ottawa et d’Oslo,
- Les entreprises produisant, stockant, commercialisant des armes chimiques, des armes biologiques et des armes à l’uranium appauvri,
- Les entreprises qui contreviennent gravement et de manière répétée à l’un ou plusieurs des 10 principes du Pacte Mondial, sans mesures correctives crédibles.
- Quels sont les éléments contraignants de la stratégie d’investissement utilisés pour sélectionner les investissements afin d’atteindre chacune des caractéristiques environnementales ou sociales promues par ce produit financier ?

Les éléments contraignants de la stratégie d'investissement sont les suivants :
- L'application de la liste d'exclusion ci-dessus,
- La prise en compte systématique de la notation ESG lors de l'analyse de chaque titre,
- Au moins 90% du portefeuille doit avoir une notation ESG, hors dépôts, liquidités et emprunts,
- La notation ESG moyenne du portefeuille doit être supérieure à la notation ESG de l'univers d'investissement ou du benchmark.
- Quel est le taux minimal d’engagement pour réduire la portée des investissements envisagés avant l’application de cette stratégie d’investissement ?

Non applicable (N/A)
- Quelle est la politique suivie pour évaluer les pratiques de bonne gouvernance des sociétés bénéficiaires des investissements ?

Les critères de gouvernance au sein de la note ESG ainsi que les exclusions permettent de s'assurer que les émetteurs cibles ont des pratiques de bonne gouvernance. Ces critères permettent de s'assurer notamment que le Compartiment ne contribue pas à la violation des droits de l'homme ou du travail, à la corruption ou à d'autres actions qui pourraient être considérées comme non-éthiques. Cette démarche s'appuie sur des normes et des principes mondiaux, qui comprennent (sans s'y limiter) le Pacte mondial des Nations unies, les Principes directeurs de l'OCDE à l'intention des entreprises multinationales, les Principes directeurs des Nations unies relatifs aux entreprises et aux droits de l'homme.
En outre, le Compartiment s'efforce de promouvoir la bonne gouvernance de ces entités émettrices en considérant la structure de gouvernance de l'émetteur..
Quelle est l’allocation des actifs prévue pour ce produit financier ?
[Inclure uniquement les cases pertinentes, supprimer celles qui ne le sont pas pour le produit financier]
Un minimum de 60% des actifs sera investi dans des émetteurs alignés sur les caractéristiques E/S promues (#1 Alignés sur les caractéristiques E/S) ; parmi ces investissements, ceux considérés comme investissements durables représenteront au moins 10% des actifs (#1A Durables). Le reste des actifs, (<40%), sera constitué de liquidités, d'équivalents de liquidités ainsi que d'investissements non filtrés et ne sera pas aligné sur les caractéristiques E/S promues (#2 Autres).
autres
Investissements
#1 Alignés sur les caractéristiques E/S
#1A Durables	
Environnementaux
#2 Autres
#1B Autres caractéristiques E/S
La catégorie #1 Alignés sur les caractéristiques E/S inclut les investissements du produit financier utilisés pour atteindre les caractéristiques environnementales ou sociales promues par le produit financier.
La catégorie #2 Autres inclut les investissements restants du produit financier qui ne sont ni alignés sur les caractéristiques environnementales ou sociales ni considérés comme des investissements durables.
La catégorie #1 Alignés sur les caractéristiques E/S comprend:
- la sous-catégorie #1A Durable couvrant les investissements durables ayant des objectifs environnementaux ou sociaux ;
- la sous-catégorie #1B Autres caractéristiques E/S couvrant les investissements alignés sur les caractéristiques environnementales ou sociales qui ne sont pas considérés comme des investissements durables.
- Comment l’utilisation des produits dérivés atteint-elle les caractéristiques environnementales ou sociales promues par le produit financier ?

Non Applicable (N/A).
Dans quelle mesure minimale les investissements durables ayant un objectif environnemental sont-ils alignés sur la taxinomie de l’UE ?
Le Compartiment ne s'engage actuellement pas à investir dans un investissement durable au sens de la taxinomie de l'UE, mais uniquement au sens du règlement sur la publication des informations en matière de finance durable ("SFDR"). Toutefois, cette position est maintenue à l'étude à mesure que les règles sous- jacentes sont finalisées et que la disponibilité de données fiables augmente au fil du temps. Par conséquent, l'alignement sur la taxinomie de l'UE des investissements de ce Compartiment n'a pas été calculé et a donc été considéré comme constituant 0 % du portefeuille.
|  | 1. Alignement des investissements	2. Alignement des investissements sur sur la taxinomie, obligations		la taxinomie, hors obligations souveraines incluses*	souveraines* 0% Alignés sur la	0%	Alignés sur la taxinomie	taxinomie Autres	100%	Autres investissements	investissements 100% |
| --- | --- |
|  | - Quelle est la part minimale d’investissements dans des activités transitoires et habilitantes ?
 |
|  | Comme le Compartiment ne s'engage pas à réaliser des investissements durables au sens de la taxinomie de l'UE, la part minimale d'investissements dans des activités transitoires et habilitantes au sens de la taxinomie de l'UE est donc également fixée à 0 %. |
|  | Quelle est la part minimale d’investissements durables ayant un objectif environnemental qui ne sont pas alignés sur la taxinomie de l’UE ? |
| Le Compartiment s'engage à réaliser au minimum 10% d'investissements durables dont l'objectif environnemental est aligné sur SFDR. Ces investissements pourraient être alignés sur la taxinomie de l'UE, mais le gestionnaire n'est pas actuellement en mesure de préciser la proportion exacte des investissements sous-jacents du Compartiment qui prennent en compte les critères de l'UE pour les activités économiques écologiquement durables. Toutefois, cette position sera maintenue à l'étude à mesure que les règles sous-jacentes seront finalisées et que la disponibilité de données fiables augmentera au fil du temps. |
| Quelle est la part minimale d’investissements durables sur le plan social ? |
| Non Applicable (N/A). |
|  | Quels investissements sont inclus dans la catégorie « #2 Autres », quelle est leur finalité et existe-t-il des garanties environnementales ou sociales minimales ? |
|  | La catégorie "#2 Autres" est constituée d'investissements non filtrés à des fins de diversification, d'investissements pour lesquels les données font défaut ou de liquidités détenues en tant que liquidités à titre accessoire. Aucune garantie environnementale ou sociale minimale existe pour ces investissements. |

| Un indice spécifique a-t-il été désigné comme indice de référence pour déterminer si ce produit financier est aligné sur les caractéristiques environnementales et/ou sociales qu’il promeut ? |
| --- |
| Non Applicable (N/A). |
|  | Où puis-je trouver en ligne davantage d’informations spécifiques au produit ? De plus amples informations sur le produit sont accessibles sur le site internet : www.ca-indosuez.com/fr/pages/ca-indosuez-wealth-asset-management Onglet “Réglementation SFDR” |

Modèle d’informations précontractuelles pour les produits financiers visés à l’article 8, paragraphes 1, 2 et 2 bis, du règlement (UE) 2019/2088 et à l’article 6, premier alinéa, du règlement (UE) 2020/852
Dénomination du produit: China 2049 ("Compartiment")
Identifiant d’entité juridique:
984500AUBFJ0766WFM19