Too much marketing, the “relaunch” label risks missing its target

Posted on Feb 9, 2019 2021 at 10:15Updated Feb 9, 2019 2021 at 10:30

In its arsenal of anti-crisis measures, the government unsheathed in the fall the label “relaunch”. Its principle: to direct part of the immense mass of savings accumulated since the start of the health crisis towards the long-term financing of French companies. Relance-labeled funds undertake to invest at least 30% of their assets in the balance sheets of listed or unlisted French companies, including at least 10% of SMEs and mid-caps. “The relaunch label already has 133 funds for 12.5 billion euros in assets, an amount that will be increased to more than 22 billion euros if we include the collection targets for these investment vehicles”, announces Pierre Chabrol, head of the Savings and Financial Markets office at the French Treasury.

However, the interest of this label for investors remains to be demonstrated. “We need to clarify the promise made to the customer. A label certifies that the product corresponds to the objective. However, for the moment, these funds have only the name, points out Anne-Catherine Husson-Traore, President of Novethic, the sustainable finance subsidiary of Caisse des Dépôts. There was some rush. The Relance label is based on self-declaration, while the Ministry of the Economy has set up very strict specifications for the SRI label [investissement socialement responsable, NDLR]. “

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