Candriam Investors Group

Candriam, a subsidiary of New York Life, is a global multi-specialist asset management firm and a pioneer in sustainable and responsible investing (SRI). By year end 2019, Candriam had 130 billion euros of assets under management (AUM).[1]

Candriam
FormerlyDexia Asset Management (1996-2014)
IndustryAsset Management
Founded1996 (1996)
Key people
Naïm Abou-Jaoudé CEO
AUM€130 billion (as at December 2019)
ParentNew York Life
Websitewww.candriam.com

Founded in 1998, Candriam manages investments focused on responsible investing across a range of asset classes including fixed income, equities, alternatives, asset allocation, and real estate.

Candriam is headquartered in Luxembourg with offices in Brussels, Paris, and London, and client representatives throughout Europe, the Middle East, Asia and the United States.[2]

Candriam has been led by Naïm Abou-Jaoudé as Chief Executive Officer14 (CEO) since 2007. He has been at the company since its founding in 1998.[3]

History

The company was founded as Dexia Asset Management, a branch of Dexia S.A, in 1996. Following its acquisition by New York Life Investments in February 2014, the company changed its name to Candriam, which stands for “Conviction AND Responsibility In Asset Management”, representing two of the company’s core values.[4]

The company received the award of “European Asset Manager of the Year” for two years in a row in 2015 and 2016 and was listed among MacKay Williams’s top ranking for future leading names in asset management in 2016.[5]

In 2018 the company successfully acquired a 40% equity stake in London-based real estate manager Tristan Capital Partners, as well as ABN-Amro’s direct management unit, representing €8bn in AUM.[6][7]

In September 2019 the company announced it was carbon-neutral with all carbon emissions generated being offset. Including scope 1 (fuel, mainly vehicles), scope 2 emissions (energy for buildings) plus business travel as well as supplier related emissions (as part of scope 3).[8]

In June 2020, the company signed an agreement to transfer Rothschild & Co Asset Management Europe’s alternative multi-asset management business to Candriam. The transaction concerns open-ended funds domiciled in France and Luxembourg and dedicated institutional funds, representing total assets under management of almost 350 million euros.[9]

Social Responsible Investments (SRI)

Candriam has been a pioneer in Sustainable and Responsible Investments (SRI) since 1996. The company states that investment opportunities and risks can’t be fully evaluated using traditional financial measures alone and that Environmental, Social and Governance (ESG) criteria should be taken into consideration.[10]

Supporting a sustainable and inclusive economy

Candriam’s social responsibility engagement aims to go beyond investments. The company is actively focused on raising awareness and advancing the global investment industry’s commitment to a sustainable and inclusive economy.[11]

Candriam Academy

In 2017, Candriam launched the Candriam Academy,[12] the world’s first free-to-access accredited training platform for sustainable and responsible investing. In June 2020 the platform passed 4,000 members. The platform is aimed at raising awareness, promoting education and improving knowledge of financial intermediaries on SRI.[13]

University Partnerships

Candriam has also partnered with a number of institutions across Europe with the aim of advancing awareness and action on climate change:

In 2016, Candriam launched a Master in Management of Sustainable development Goals with Lumsa Università in Rome.[14]

In October 2019 Candriam and Kedge Business School created a research chair dedicated to sustainable finance.[15]

In June 2020 Candriam announced its partnership with the London School of Economics and Political Science (LSE) to develop the Sustainability, Investment, Inclusion and Impact (SI3) initiative, focused on developing research, improve communication and promote the exchange of ideas on climate action that delivers positive social impact.[16]

Forest Green Rovers

In 2019, Candriam announced a sponsorship deal with Forest Green Rovers. Forest Green Rovers  was named as the world’s first UN certified carbon-neutral football club in 2018. Candriam is the football club’s official financial partner.[17]

Investing in climate solutions: Climate action

In June 2019, Candriam launched the industry’s first actively managed carbon neutral climate action fund, aimed at investing in companies that provide long-term climate change solutions.[18]

Tackling a global health crisis: Oncology

In 2019, Candriam launched the industry’s first oncology fund, aimed at investing in listed companies that research and develop products for the treatment of cancer.[19]

Targeting zero waste: Circular economy

In June 2020, Candriam launched a circular economy fund aimed at investing in companies that provide new technologies and innovate solutions to help businesses decrease resource dependence and waste.[20]  

Engagement

A UN PRI early signatory in 2006, Candriam has signed the main global statements and initiatives with the investment community to call on stakeholders to act responsibly.[21]


Candriam's main engagements and initiatives as a responsible investor[22]
Statement Signed in Topics
Launched first ESG fund 1996 Environment, Social, Governance
Set up of proxy voting system 2003 Environment, Social, Governance
First CSR Report 2006 Environment, Social, Governance
Principles for Responsible Investment 2006 Environment, Social, Governance
CCCC The Copenhagen Communique on Climate Change 2009 Environment
ISCC Investors Statement on a Global Agreement on Climate Change 2009 Environment
ISCC Investors Statement on Climate Change - COP 16 Cancun 2010 Governance
2011 Global Investors Statement on Climate Change 2011 Environment
2014 Global Investors Statement on Climate Change 2014 Environment
UNGC Call to Action on anti-corruption 2014 Environment
Montreal Carbon Pledge 2015 Environment
G20 Energy Efficiency Investor Statement 2015 Environment
Paris Pledge for Action 2015 Environment
UK Stewardship Code 2016 Environment, Social, Governance
Launched CANDRIAM Academy, a sustainable investing

education platform

 2017 Environment, Social, Governance
Investor Statement on ESG ratings 2017 Environment, Social, Governance
Adhesion to Green and Social Bond principles 2017 Environment, Social
Decarbonisation Initiative (incl. RE100 & EP100 Engagement) 2017 Environment
Combating Child Labour in Cocoa supply chains 2017 Social
Banking on a low carbon future 2017 Environment, Governance
Commitment to support a just transition on climate change 2018 Environment
Tobacco-Free Finance pledge 2018 Social
Plastic Solutions Investor alliance 2018 Environment
Corporate Accountability for Digital rights 2018 Governance
Investor Mining and Tailings Safety initiative 2019 Environment
Investor statement to support Gender Equality in the workplace 2019 Social
Investor Statement on Deforestation & Forest Fires in the Amazon 2019 Environment
CANDRIAM and the London School of Economics’ Grantham Research Institute announce partnership

to support a sustainable and inclusive climate recovery

 2020 Social, Environment

References
  1. "Candriam Press Release 2019 Results" (PDF).
  2. "Candriam.com Press Kit Fact Card" (PDF).
  3. "Naïm Abou-Jaoudé - Investor Profile • World Top Investors". World Top Investors. 2018-03-10. Retrieved 2020-09-10.
  4. "Dexia Asset Management rebrands as CANDRIAM". www.businesswire.com. 2014-02-13. Retrieved 2020-09-10.
  5. "AWARDS 2015 WINNERS". www.funds-europe.com. Retrieved 2020-09-10.
  6. O'DeaMarch/April 2018, Christopher. "Interview: Naïm Abou-Jaoudé, Candriam/New York Life". Real Assets. Retrieved 2020-09-10.
  7. "ABN Amro hands €8bn investment business to Candriam". Wealth Manager. Retrieved 2020-09-10.
  8. Candriam. "Candriam reaches all-time high AUM and announces carbon neutrality | Candriam.com". Candriam Investor Group. Retrieved 2020-09-10.
  9. "Candriam plans alternatives build after Rothschild deal". www.funds-europe.com. Retrieved 2020-09-10.
  10. "Subscribe to read | Financial Times". www.ft.com. Retrieved 2020-09-10. Cite uses generic title (help)
  11. "Candriam announces ESG plan to help 'build back better'". Wealth Manager. Retrieved 2020-09-10.
  12. "Candriam launches SRI academy". www.funds-europe.com. Retrieved 2020-09-10.
  13. New York Life Investments. "New York Life Investments Launches U.S. CANDRIAM Academy to Improve Sustainable Investing Education". www.prnewswire.com. Retrieved 2020-09-10.
  14. Candriam. "Candriam, un partner privilegiato per lo sviluppo sostenibile | Candriam.it". Candriam Investor Group (in Italian). Retrieved 2020-09-10.
  15. "CANDRIAM and KEDGE Business School create a research chair dedicated to sustainable finance". student.kedge.edu. Retrieved 2020-09-10.
  16. "CANDRIAM and the London School of Economics' Grantham Research Institute announce partnership to support a sustainable and inclusive climate recovery". Grantham Research Institute on climate change and the environment. Retrieved 2020-09-10.
  17. "NEWS | CANDRIAM extends FGR partnership". www.fgr.co.uk. Retrieved 2020-09-10.
  18. "Candriam unveils climate action fund". www.internationalinvestment.net. 2019-06-05. Retrieved 2020-09-10.
  19. "Candriam launches oncology impact fund on World Cancer Day". www.investmentweek.co.uk. 2019-02-04. Retrieved 2020-09-10.
  20. "Candriam launches waste-reducing circular economy fund". www.funds-europe.com. Retrieved 2020-09-10.
  21. "PRI Report Cards - Who scored an A+?". ESG Clarity. 2018-07-27. Retrieved 2020-09-10.
  22. "Global Investor Magazine Q1 2020". www.globalinvestorgroup.com. Retrieved 2020-09-10.
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