VAN SCHELVERGEM Marcel
Lead Manager
Candriam Business Equities EMU
Fund details
AUM - 28 OCT 2026
EUR 303.628.949,39
SFDR Category
“Sustainable Finance Disclosure Regulation” : Regulation 2019/2088 on sustainability-related disclosures in the financial services sector
Article 8
Last NAV - 28 OCT 2026
EUR 304,24
Morningstar™ category
EAA Fund Eurozone Large-Cap Equity
Morningstar™ sustainability Rating
- 31 AUG 2026
Morningstar launched the Morningstar Sustainability Rating (MSR) to help investors consider Environmental, Social and Corporate Governance (ESG) criteria when assessing their investments. Morningstar Sustainability globes are calculated using bottom-up assessments of the underlying securities of a portfolio, supported by the Sustainalytics methodology for assessing the ESG risk of companies and sovereigns. The Morningstar Sustainability Rating has several steps to accurately represent the relative risk within each portfolio. The result of the rating is a category of 1 to 5 “globes” for each eligible portfolio, indicating the fund’s ESG positioning relative to its peer group.
Marketing Communication. Please refer to the prospectus of the fund and to the key investor information document before making any investment decision. The documents can be obtained free of charge.
Risks
Lower Risk
Potentially lower return
Higher Risk
Potentially higher return
1
2
3
4
5
6
7
Definition
The summary risk indicator ("SRI") is an indicator with a rating ranging from 1 to 7 and corresponds to increasing levels of risk and return. The methodology for calculating this regulatory indicator is available in the KID.
The summary risk indicator ("SRI") is a guide to the level of risk of this product compared to other products.
It shows how likely it is that the product will lose money because of movements in the markets or because we are not able to pay you.
The summary risk indicator ("SRI") is an indicator with a rating ranging from 1 to 7 and corresponds to increasing levels of risk and return. The methodology for calculating this regulatory indicator is available in the KID.
The summary risk indicator ("SRI") is a guide to the level of risk of this product compared to other products.
It shows how likely it is that the product will lose money because of movements in the markets or because we are not able to pay you.
Historical NAV
Candriam Business Equities EMU
Historical NAV
MSCI EMU (Net Return)
I DIS
This graph represents the synthetic net asset value of the fund. It is provided for information and illustrative purposes only. The synthetic net asset value is obtained by a recalculation of the values of the fund’s assets by leveling out the effect of securities transactions (split, coupon, dividend distribution...) in order to reflect the real performance of the fund share or unit. Data may be rounded for convenience. Data expressed in a currency other than that of the investor's country of residence is subject to exchange rate fluctuations, with a positive or negative impact. Gross performance may be impacted by commissions, fees and other expenses.
Important information
© 2026 Sustainalytics. All Rights Reserved. The information, data, analyses and opinions contained here: (1) includes the proprietary information of Sustainalytics; (2) may not be copied or redistributed except as specifically authorized; (3) do not constitute investment advice nor an endorsement of any product or project; (4) are provided solely for informational purposes; and (5) are not warranted to be complete, accurate or timely. Sustainalytics is not responsible for any trading decisions, damages or other losses related to it or its use. The use of the data is subject to conditions available at https://www.sustainalytics.com/legal-disclaimers .
Overview
Legal documents
Download documents
PDF
About this fund
Candriam Business Equities EMU (hereafter “the fund”), a sub-fund of the Candriam Business Equities sicav, aims to enable shareholders to benefit from the evolution of equities from the Eurozone, with an investment in stocks selected by the portfolio management team on a discretionary basis and to outperform the benchmark. The selection is based on the securities characteristics, growth prospects and proprietary analysis of ESG criteria. The fund mainly receives stock dividends benefiting from the system of definitively taxed income and capital gains realized on these same shares. The fund may be appropriate for investors who are aware of, understand and are able to bear the specific risks of the fund. The investment horizon is 6 years. The fund is actively managed and the investment process implies referring to a benchmark index. For further information on the risks or the benchmark and its use, please consult the fund’s key information document (KID).
Principaux actifs traités:
Actions de sociétés opérant dans la zone Euro.
Stratégie d'investissement:
Le fonds vise une croissance du capital en investissant dans les principaux actifs traités et à surperformer l'indice de référence.
Dans le cadre des limites imposées par l'objectif et la politique d'investissement du fonds, l'équipe de gestion effectue des choix discrétionnaires d'investissement dans le portefeuille, en fonction de ses analyses des caractéristiques et des perspectives d'évolution des actifs traités.
Le fonds perçoit essentiellement des dividendes d’actions bénéficiant du régime des revenus définitivement taxés et des plus-values réalisées sur ces mêmes actions.
Le Fonds promeut, entre autres caractéristiques, des caractéristiques environnementales et/ou sociales sans pour autant avoir un objectif d'investissement durable. L’analyse des aspects ESG (Environnement, Social et Gouvernance) est intégrée dans la sélection, l’analyse et l’évaluation globale des sociétés.
Le Fonds vise également à exclure les investissements dans des sociétés qui ne respectent pas certaines normes et principes internationaux reconnus (Pacte Mondial des Nations Unies) et qui sont notablement exposées à certaines activités controversées.
Pour plus d’informations, veuillez vous référer au site internet de la société de gestion et/ou au prospectus.
Valeur de référence: MSCI EMU (Net Return).
Le fonds est géré de manière active et le processus d'investissement implique la référence à une valeur de référence (l'indice).
Utilisation de l'indice:
- Comme univers d'investissement. En général, les instruments financiers présents dans le portefeuille du fonds font majoritairement partie de l'indice. Ceci dit, des investissements en dehors de l'indice sont autorisés,
- Dans la détermination des niveaux/paramètres de risque,
- A des fins de comparaison de performance.
Le fonds étant géré activement, il n'a pas pour objectif d'investir dans tous les composants de l'indice, ni d'investir dans les mêmes proportions que les composants de cet indice. Dans des conditions normales de marché, la tracking error attendue du fonds sera modérée à importante, à savoir comprise entre 2% et 6%. Cette mesure est une estimation des écarts de performance du fonds par rapport à la performance de son indice. Plus la tracking error est importante, plus les déviations vis-à-vis de l'indice sont importantes. La tracking error réalisée dépend notamment des conditions de marché (volatilité et corrélations entre instruments financiers) et peut dès lors s'écarter de la tracking error attendue.
Actions de sociétés opérant dans la zone Euro.
Stratégie d'investissement:
Le fonds vise une croissance du capital en investissant dans les principaux actifs traités et à surperformer l'indice de référence.
Dans le cadre des limites imposées par l'objectif et la politique d'investissement du fonds, l'équipe de gestion effectue des choix discrétionnaires d'investissement dans le portefeuille, en fonction de ses analyses des caractéristiques et des perspectives d'évolution des actifs traités.
Le fonds perçoit essentiellement des dividendes d’actions bénéficiant du régime des revenus définitivement taxés et des plus-values réalisées sur ces mêmes actions.
Le Fonds promeut, entre autres caractéristiques, des caractéristiques environnementales et/ou sociales sans pour autant avoir un objectif d'investissement durable. L’analyse des aspects ESG (Environnement, Social et Gouvernance) est intégrée dans la sélection, l’analyse et l’évaluation globale des sociétés.
Le Fonds vise également à exclure les investissements dans des sociétés qui ne respectent pas certaines normes et principes internationaux reconnus (Pacte Mondial des Nations Unies) et qui sont notablement exposées à certaines activités controversées.
Pour plus d’informations, veuillez vous référer au site internet de la société de gestion et/ou au prospectus.
Valeur de référence: MSCI EMU (Net Return).
Le fonds est géré de manière active et le processus d'investissement implique la référence à une valeur de référence (l'indice).
Utilisation de l'indice:
- Comme univers d'investissement. En général, les instruments financiers présents dans le portefeuille du fonds font majoritairement partie de l'indice. Ceci dit, des investissements en dehors de l'indice sont autorisés,
- Dans la détermination des niveaux/paramètres de risque,
- A des fins de comparaison de performance.
Le fonds étant géré activement, il n'a pas pour objectif d'investir dans tous les composants de l'indice, ni d'investir dans les mêmes proportions que les composants de cet indice. Dans des conditions normales de marché, la tracking error attendue du fonds sera modérée à importante, à savoir comprise entre 2% et 6%. Cette mesure est une estimation des écarts de performance du fonds par rapport à la performance de son indice. Plus la tracking error est importante, plus les déviations vis-à-vis de l'indice sont importantes. La tracking error réalisée dépend notamment des conditions de marché (volatilité et corrélations entre instruments financiers) et peut dès lors s'écarter de la tracking error attendue.
Investment Team
BAERT Jiri
Back-up Manager
Performance
Historical NAV
Candriam Business Equities EMU
Historical NAV
MSCI EMU (Net Return)
I DIS
This graph represents the synthetic net asset value of the fund. It is provided for information and illustrative purposes only. The synthetic net asset value is obtained by a recalculation of the values of the fund’s assets by leveling out the effect of securities transactions (split, coupon, dividend distribution...) in order to reflect the real performance of the fund share or unit. Data may be rounded for convenience. Data expressed in a currency other than that of the investor's country of residence is subject to exchange rate fluctuations, with a positive or negative impact. Gross performance may be impacted by commissions, fees and other expenses.
Cumulative Return
Past performance is not a reliable indicator of future performances. Markets could develop very differently in the future.
It can help you assess how the fund has been managed in the past.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Fund | 12,59 | 13,06 | 6,53 |
| Benchmark | 16,49 | 17,38 | 10,51 |
| Difference | -3,90 | -4,32 | -3,98 |
Additional information
The returns listed above are provided on the basis of the Net Asset Value (NAV), net of commissions and reinvested income. All management fees and commissions are included in the calculation of past performance except for any entry and exit charges. Taxes are not included in the calculation of returns. The value or price converted into euros may be reduced or increased depending on fluctuations in the exchange rate. The fund is not a guaranteed investment. The NAVs are net of fees and are provided by the accounting department and the benchmark by the official providers.
Market developments (currency conversion, coupon, split, …) have an influence on the chart. This graph is provided for information purposes only and does not precisely illustrate the evolution of the fund's net assets. Data may be rounded for convenience. Data expressed in a currency other than that of the investor's country of residence is subject to exchange rate fluctuations, with a positive or negative impact. Gross performance may be impacted by commissions, fees and other expenses
Annual return
This chart shows the fund’s performance as the percentage loss or gain per year over the last 7 years.
It can help you to assess how the fund has been managed in the past and compare it to its benchmark.
The index composition may change over time. The performance reported may therefore differ from the performance of the relevant index before its change. Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation. Performances expressed in a currency other than that of the investor's country of residence are subject to exchange rate fluctuations, with a negative or positive impact on gains. If the present document refers to a specific tax treatment, such information depends on the individual situation of each investor and may change. If for one year, there is no performance information, it is because there is no data or the data is insufficient to provide investors with useful or reliable indications on this performance.
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|
| Fund | 23,96 % | 1,21 % | 20,68 % | -15,65 % | 15,49 % | 9,16 % | 15,16 % |
| Benchmark | 25,47 % | -1,02 % | 22,16 % | -12,47 % | 18,78 % | 9,49 % | 23,70 % |
| Difference | -1,51 % | 2,23 % | -1,48 % | -3,17 % | -3,29 % | -0,33 % | -8,54 % |
Additional information
The returns listed above are provided on the basis of the Net Asset Value (NAV), net of commissions and reinvested income. All management fees and commissions are included in the calculation of past performance except for any entry and exit charges. Taxes are not included in the calculation of returns. The value or price converted into euros may be reduced or increased depending on fluctuations in the exchange rate. The fund is not a guaranteed investment. The NAVs are net of fees and are provided by the accounting department and the benchmark by the official providers.
Market developments (currency conversion, coupon, split, …) have an influence on the chart. This graph is provided for information purposes only and does not precisely illustrate the evolution of the fund's net assets. Data may be rounded for convenience. Data expressed in a currency other than that of the investor's country of residence is subject to exchange rate fluctuations, with a positive or negative impact. Gross performance may be impacted by commissions, fees and other expenses
Risks
Risk And Reward Indicators
Lower Risk
Potentially lower return
Higher Risk
Potentially higher return
1
2
3
4
5
6
7
Definition
The summary risk indicator ("SRI") is an indicator with a rating ranging from 1 to 7 and corresponds to increasing levels of risk and return. The methodology for calculating this regulatory indicator is available in the KID.The summary risk indicator ("SRI") is a guide to the level of risk of this product compared to other products.
It shows how likely it is that the product will lose money because of movements in the markets or because we are not able to pay you.
- SRI Date
- SRI Value
- 4
Main Risks
-
Concentration risk
This risk is related to a significant concentration of investments in a specific asset class or certain markets. The greater the diversification of the fund is, the lesser the concentration risk will be.
-
Equity Risk
Some funds may be exposed to equity market risk through direct investment (through transferable securities and/or derivative products), meaning submitted to the positive or negative evolution of stock exchanges. These evolutions can be huge and be mainly driven by expectations relative to macro-economy and company results, speculation and irrational factors (including trends, opinions or rumours).
-
Performance risk
Performance risk arises from the level of exposure to other risks, the type of management (more or less active) and the presence or absence of a protection or guarantee mechanism. Volatility is one of the indicators of performance risk.
-
Risk of loss of capital
Investors are advised that any capital they invest is not guaranteed and that they may therefore not receive back the full amount invested. They may thus suffer a loss.
-
Sustainability Risk
The sustainability risk refers to any environmental, social or governance event or condition that could affect the performance and / or the reputation of issuers in the portfolio. It may be issuer specific, in line with their activities and practices, but may also be due to external factors.
Other Risks
-
Liquidity risk
lt occurs when a portfolio position cannot be sold, liquidated or closed at a limited cost and within a sufficiently short time, which jeopardizing the fund's ability to comply at any time with its obligations to redeem the shares of investors at their request.
-
Settlement risk
The risk that settlement with a payment system does not take place as planned, because the payment or delivery by a counterparty does not occur or is not made in accordance with the initial conditions. This risk might be amplified in emerging markets.
Risk And Reward Indicators 30/9/26
-
Alpha
Alpha represents the performance of a fund relative to its reference index, it is often considered to represent the value that a portfolio manager adds to or subtracts from a fund's return. It is the return on a fund that is not a result of general movement in the greater market. This indicator is based on weekly data over 3 Years (1 year if too little history).
-
-0.03
-
Beta
Beta measures the sensitivity of fund returns to changes in returns of its reference index. A beta greater than 1 indicates the fund is more volatile, thus more risky than the reference index.
-
0.95
-
Information ratio
The information ratio is the ratio of a portfolio’s “active” return to its benchmark to the volatility of the active return (also known as “active risk”).
-
-2.03
-
Sharpe Ratio
The Sharpe Ratio measures the level of compensation an investment in the fund offered for the risk taken. It is calculated by subtracting the risk-free rate from the return of the fund and dividing that result by the volatility. The higher the Sharpe ratio the better, a negative ratio has no significance other than that the fund underperformed the risk-free rate. This indicator is based on weekly data over 3 Years (1 year if too little history).
-
0.76
-
Tracking error
The Tracking Error is a statistical measure of dispersion of the excess returns of the fund around the mean, making it the volatility of the difference between the fund's return and its reference index return. A higher tracking error indicates a higher deviation from the reference index. This indicator is based on weekly data over 3 Years (1 year if too little history).
-
2.16 %
-
Volatility
The Volatility is the statistical measure of dispersion of returns for a fund around the mean. A higher volatility means that a fund's value can potentially be spread out over a larger range of values and makes the fund a riskier investment. This indicator is based on weekly data over 3 Years (1 year if too little history).
-
13.74 %
-
Active share
It is calculated by taking the sum of the absolute value of the differences of the weight of each holding in the fund and the weight of each holding in the reference index and dividing by two. The greater the difference between the composition of the fund and its reference index, the greater the active share.
-
20.73 %
-
Dividend Yield
The Dividend Yield of a fund is determined by dividing the total amount of the annual dividends received for all shares in the fund by the current market value of the fund. Index derivatives are excluded.
-
2.87 %
-
Equity exposure
The Equity Exposure of a fund is expressed as a percentage of total portfolio holdings, taking into account the leverage of derivative instruments. It represents the amount an investor can lose from the risks unique to a particular investment. The Equity Exposure is the sum of exposures to equity instruments, including derivatives.
-
98.83 %
- Number of Issues
-
118
Complaints
For any complaints, the customer can contact the Client Servicing department by letter at: Candriam Belgium, 58, avenue des Arts at 1000 Brussels or via the site https://contact.candriam.com.
In the event that the processing of the complaint as referred to above would be insufficient for the client, the client may contact the Ombudsman - Address: OMBUDSFIN, Ombudsman in financial conflicts, Avenue du Roi Albert II 8, 1000 Brussel; Phone no. +32 2 545 77 70 ; Email: ombudsman @ombudsfin.be. Detailed information on the characteristics and conditions of application of this extrajudicial settlement can be consulted on https://www.ombudsfin.be
Financial Service
Service financier :
Belfius Banque SA, Place Charles Rogier 11, 1210 Bruxelles
Tel. 02 222 11 11 - https://www.belfius.be
Rek.nr. 052-9006469-91
IBAN: BE23 0529 0064 6991 BIC: GKCCBEBB
RPR Brussel BTW BE 0403.201.185
FSMA nr. 019649 A
A complete list with the entities in charge of the financial service in the different countries is available on: https://www.candriam.com. All legal documents are available free of charge from Belfius bank at the above address.
ESG
Companies
Characteristics
Fund Characteristics
- Fund name
- Candriam Business Equities EMU
- Benchmark
- MSCI EMU (Net Return)
- SICAV Name
- Candriam Business Equities
- Currency
- EUR
- Legal Form
- Sub-fund of a SICAV under Belgian law
- Legal status
- UCITS
- SFDR Category
- Article 8
- Creation Date
- Domicile Country
- Belgium
- Management Company
- CANDRIAM, management Company having its registered office in Belgium.
- Fund Administration
- CACEIS Bank, Belgium branch
- Auditor
- PricewaterhouseCoopers Réviseurs d'Entreprises
- Transfer agent
- Belfius Banque S.A.
- Term of fund
- The fund has no limited term
- Anti Dilution system
- yes
Swing Pricing is a mechanism by which the net asset value is adjusted upwards (or downwards) if the change in liabilities is positive (or negative) in such a way as to reduce for existing investors the portfolio restructuring costs linked to subscription/ redemption movements in the fund. On valuation days where the difference between the amount of subscriptions and the amount of redemptions of a sub-fund (i.e. net transactions) exceeds a threshold set beforehand by the Board of Directors, the latter shall be entitled to:
- value the net asset value by adding to the assets (in the case of net subscriptions) or deducting from assets (at net redemptions) a fixed percentage of the fees corresponding to market practices and reflecting the fees and/or conditions of liquidity when buying or selling securities;
- value the securities portfolio on the basis of bid or ask prices;
- assess the net asset value by setting a level of spreads representative of the relevant market;
- The dilution mechanism must not exceed 2% of the net asset value, except in exceptional circumstances, as in the event of a sharp decrease in liquidity, which would then be detailed for the sub-fund concerned in the annual (semi-) annual report of the SICAV.
Instrument Characteristics
- Share Class
- I - DIS
- Benchmark
- MSCI EMU (Net Return)
- Currency
- EUR
- First NAV Date
- 31/5/18
- ISIN
- BE6302921554
- Recommended investment horizon
- 6 years
- Bloomberg ticker
- CANBEEI BB Equity
- Morningstar ticker
- F000010O00
- Marketing authorization
- Belgium
Tax, Charges & Fees
- Management fees (max)
- 0.75 %
- Subscription
- 0.00 %
- Redemption
- 0.00 %
- Ogc date
- Last ogc
- 0.86 %
- Tax on Stock Exchange Transactions
- 1.32% (max 4000€ per transaction)
- Belgian withholding tax on dividends and on capital gains tax
- 30%
Transaction Fees
- Portfolio transaction costs
- 0.26 %
Ongoing cost
- Ongoing cost value
- 0.86 %
Orders
Order Subscription
- Subscription cut off
- D 12:00
Order redemption
- Redemption cut off
- D 12:00
The corresponding time zone is the one associated with the fund's domicile.
NAV
NAV Specification
- NAV date
- D
- NAV calculation Day
- D+1
NAV AUM
- AUM currency
- EUR
- AUM value
- 303.628.949,39
- AUM date
- 28/10/2026
NAV AUM for share class
- Last NAV date
- 28/10/2026
- Last NAV value
- 304,2400000000
Documents
ESG documents
Download all ESG documentsAnnual and semi-annual reports
Download all annual documentsFactsheet and Fund Comments
Download all fact sheet documentsOther information
This is a marketing communication. Please refer to the prospectus of the funds and to the key information document before making any investment decision. This marketing communication does not constitute an offer to buy or sell financial instruments, nor does it represent an investment recommendation or confirm any kind of transaction, except where expressly agreed. Although Candriam selects carefully the data and sources within this document, errors or omissions cannot be excluded a priori. Candriam cannot be held liable for any direct or indirect losses as a result of the use of this document. The intellectual property rights of Candriam must be respected at all times, contents of this document may not be reproduced without prior written approval.
Warning: Past performance of a given financial instrument or index or an investment service or strategy, or simulations of past performance, or forecasts of future performance does not predict future returns. Gross performances may be impacted by commissions, fees and other expenses. Performances expressed in a currency other than that of the investor's country of residence are subject to exchange rate fluctuations, with a negative or positive impact on gains. If the present document refers to a specific tax treatment, such information depends on the individual situation of each investor and may change.
In respect to money market funds, please be aware that an investment in a fund is different from an investment in deposits and that the investment’s principal is capable of fluctuation. The fund does not rely on external support for guaranteeing its liquidity or stabilizing its NAV per unit or share. The risk of loss of the principal is borne by the investor.
Candriam consistently recommends investors to consult via our website https://www.candriam.com the key information document, prospectus, and all other relevant information prior to investing in one of our funds, including the net asset value (“NAV) of the funds. Investor rights and complaints procedure, are accessible on Candriam’s dedicated regulatory webpages https://www.candriam.com/en/professional/legal-information/regulatory-information/. This information is available either in English or in local languages for each country where the fund’s marketing is approved.
According to the applicable laws and regulations, Candriam may decide to terminate the arrangements made for the marketing of a relevant fund at any time.
Information on sustainability-related aspects: the information on sustainability-related aspects contained in this communication are available on Candriam webpage https://www.candriam.com/en/professional/sfdr/. The decision to invest in the promoted product should take into account all the characteristics or objectives of the promoted product as described in its prospectus, or in the information documents which are to be disclosed to investors in accordance with the applicable law.
ESG Assessment
The fund’s investment strategy aims to promote environmental or social characteristics, or a combination of these characteristics, provided that the entities in which the investments are made apply good governance practices. To achieve this objective, the management team makes discretionary investment choices based on an economic/financial analysis process and an internal analysis of environmental, social and governance (ESG) criteria, based in part on data provided by external service providers.
a. ESG selection criteria:
For corporates, the internal analysis of ESG criteria consists in selecting the issuers:
• that are the best positioned to meet the challenges of sustainable development;
• that comply with the principles of the United Nations Global Compact (i.e. human rights, labour law, the environment, anti-corruption), and which are therefore less exposed to the risks associated with these themes; and
• that are not engaged in controversial activities such as armament (securities of a company whose activity consists of manufacturing, the use or possession of anti-personnel mines, cluster bombs and/or depleted uranium weapons), tobacco, thermal coal.
For sovereign issuers, the internal analysis of ESG criteria consists in selecting:
• Countries that perform best across our four categories of sustainable development criteria: Human Capital, Natural Capital, Social Capital and Economic Capital;
• Countries that are not part of our highly Oppressive Regimes or dictatorships, based on the Freedom House Freedom in the World Index and the World Bank Voice & Accountability Index.
b. Selection methodology:
The issuers favoured by the management company are subject to a dual analysis:
• Analysis of their activity to assess their alignment with the major challenges of sustainable development. For example, regarding the transition to a circular economy, the management company will consider a company producing recycled steel to be more sustainable than a company producing steel exclusively from iron ore; and
• Analysis of how the company manages players interacting with the company: its employees, its customers, its shareholders, its suppliers and the environment. Here too, the management company will favour companies that adopt the most sustainable practices given their sector. For example, with regard to relations with its clients, the management company will favour pharmaceutical companies with balanced pricing practices and commercial policies. Similarly, with regard to relations with their employees, the management company attaches great importance to the fight against discrimination and compliance with social standards.
Our sovereign investible universe consists of those countries which perform best across our four categories of sustainable development criteria:
• Natural Capital: stock of naturel resources managed by the country;
• Social Capital: trust, norms and institutions which people can rely on to solve common problems and create social cohesion;
• Human Capital: human productivity to which the country participates through education and other initiatives;
• Economic Capital: assessing the level of economic activity viability.
c. A team of ESG analysts is responsible for assessing the selection criteria:
ESG analysis and selection are carried out by a dedicated team of ESG analysts within Candriam. This team is made up of specialists whose mission is to analyse the exposure of companies and governments to the risks and opportunities associated with sustainable development. Selection criteria are expected to evolve over time, based on advances in ESG research and changes in company practices.
The selection criteria will evolve over time, in line with advances in ESG research and changes in corporate practices.