The Atlas fund managed by Kryalos SGR, a private independent Italian asset management company with €12.5 billion of AuM, and one of the "significant asset management companies" according to the definition contained in the Bank of Italy's Regulation, has been promoted to Article 8 of the SFDR (Sustainable Finance Disclosure Regulation).
The European Regulation 2019/2088 SFDR came into force on 10 March 2021 stipulating common rules for different categories of financial operators on the disclosure of information on sustainability issues in an attempt to protect investors against greenwashing and to increase transparency.
The Atlas Fund, previously classified as Article 6 according to the European regulation, has been reclassified as Art.8 due to the fact that the fund's strategies promote environmental and/or social characteristics in the management of investments.
In October 2023, the Atlas fund was also awarded the Green Star by the Global Real Estate Sustainability Benchmark (GRESB).
Kryalos is hoping that by gaining Article 8 status it will become more appealing to investors and potentially other financial partners, clients or counterparties at some point and boost the company’s credentials overall.
The Atlas fund owns an office building located in Milan in Corso di Porta Nuova, 19 - via Fatebenesorelle, 1-3 which is currently the subject of an important redevelopment project whose completion will give the building a totally renewed identity meeting LEED Platinum certifications, WELL Platinum, BREEAM Excellent, and Wiredscore Platinum.
Said Gianluca Vairani, senior managing director, transaction management & head of ESG at Kryalos. ‘The ambitious redevelopment project of the Porta Nuova 19 building in Milan and the achievement of the Green Star, are in fact evidence of our dedication to responsible and sustainable investment practices.’
