To do so, it benefits from Groupama AM’s extensive expertise in investing in government debt, combined with an SRI approach.

The Fund’s investment philosophy is based on the conviction that over the long term a government that has the best scores on SRI criteria will post more sustainable and less volatile growth. As such, Groupama Etat Euro ISR is aimed at all institutional and private investors who are seeking an investment than takes into account a State’s social, environmental and political risks.

The non-financial analysis of States used in the Fund’s investment process is founded on an internal rating methodology developed by our economists. State ratings are determined using sustainable development indicators published mainly by the European Commission and then sorted into four major components, known as “EESG”: Economic, Environmental, Social and Governance.

With a view to continuous improvement, this methodology may change over time to adapt and better respond to the economic reality of the States.

This rating methodology seeks to summarize a country’s performance in terms of a sustainable development policy. More precisely, it ranks and rates the States’ ability to establish sustainable growth over the long term.

In the present state of the sovereign crisis in the eurozone, this type of strategy makes eminent sense.

Since its inception on 2 March 2011, the Fund has delivered a performance of +4.23%¹, outperforming its benchmark by more than 2%.

This outperformance is the result of directional strategic choices and the winning country allocation of the portfolio in light of the SRI inputs available for each country.

¹ Performances for the period from 2 March 2011 to 12 January 2012