Storebrand Asset Management Announces New Names for Four Funds

By  Storebrand Asset Management
ARTICLE · PUBLISHED 03.04.2025
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In response to new guidelines from the European Securities and Markets Authority (ESMA), Storebrand Asset Management will be renaming four of its mutual funds. These changes are being made to ensure compliance with ESMA’s updated regulations regarding the use of ESG (Environmental, Social and Governance) or sustainability-related terms in fund names.

The ESMA guidelines require that for a fund name to include ESG or sustainability-related terms, at least 80% of the fund’s investments must align with the environmental or social characteristics, or sustainable investment objectives, of the strategy. Additionally, the funds must adhere to the Paris Aligned Benchmark exclusion criteria, if such terms are used in the name. The new guidelines apply to all mutual funds across Europe.

The four funds being renamed currently feature sustainability-related terms in their names, but do not fully meet all of ESMA's requirements for such terminology. As a result, Storebrand has decided to rename these funds. The change will take effect on 10th April 2025.

What does this mean for investors?

The name changes will not affect how the funds are managed. The funds' investment strategies, mandates, and SFDR classifications will remain unchanged.

New Fund Names:

  • Storebrand Norge Fossilfri will become Storebrand Norge Horisont

The "Fossil-Free" designation is removed due to ESMA’s requirements. The new name, "Horisont," emphasises the fund’s long-term investment perspective and its focus on selecting the best investments for clients.

  • Storebrand Global ESG will become Storebrand Global Optimised

"ESG" is removed as per ESMA’s requirements. The new name, "Optimised," highlights the fund’s strategy of optimising sustainability ratings and risk-adjusted returns while maintaining low tracking error relative to its benchmark index.

  • Storebrand Global ESG Plus will become Storebrand Global Plus
    "ESG" is removed as per ESMA’s requirements. The name “Plus” aligns with the established naming convention in the Nordic market, ensuring consistency across regions.
  • Storebrand Global ESG Plus Valutasikret will become Storebrand Global Plus Valutasikret
    As a feeder fund investing in the master fund Storebrand Global ESG Plus, the name change follows the same reasoning outlined above.

Historical returns are no guarantee of future returns. Future returns will depend, among other things, on market developments, the manager's skills, the fund's risk profile and management fees. The returns can be negative as a result of price losses. There is risk associated with investments in the fund due to market movements, developments in currency, interest rates, economic conditions, industry- and company-specific conditions. Before investing, customers are advised to familiarize themselves with the fund's key information and prospectus, which contains further information about the fund's characteristics and costs.