Good morning,
We are working with a bank that has a wealth/asset management operation. Within the operation they run funds that invest in ETFs that are run by other asset managers. We are just wondering if the investment in the ETFs, via the fund, should be considered as investment in ETFs and should be included, in line with table 5.2, or considered a fund of fund investment and therefore optional?
Any advice would be much appreciated.
Thanks,
Thora
Yes, ETFs should most likely be included in the target.
Please see these threads for more detail.
Be aware that banks can currently exclude asset management from their targets, but they need to clearly disclose that asset management is excluded. However, best practice is naturally to include asset management in the banks target, following the general “completeness” principle of SBTi.