The Pacific Assets trust (PAC) has followed in the footsteps of its manager Stewart Investors in opting out of applying for a label under the Financial Conduct Authority’s Sustainable Disclosure Requirements.
Unlike an open-ended fund, PAC shareholders would need to approve material changes to the trust's investment objective and policy for the vehicle to be able to adopt an SDR label. According to the trust's half-year results published today (9 October), the board has decided against putting forward such a proposal, at least for the time being, following consultation with its portfolio manager and alternative investment fund manager. "The requirements for the sustainable investment labels included in the UK SDR regime are such that we would need to impose specific and measurable objecti...
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