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Disclosures in accordance with the “EU Sustainable Finance Disclosure Regulation” (SFDR) for Art-Invest Real Estate Funds GmbH
Mandatory information according to the Disclosure Regulation
Art-Invest Real Estate Funds GmbH, as the regulated Alternative Investment Fund Manager (AIFM) of Art-Invest Real Estate Group, originates open- and closed-ended real estate investment vehicles for its investors. It assumes responsibility in the area of sustainability.
Art-Invest Real Estate Group has formulated Sustainability Guidelines for itself. The AIFM also consistently aligns its actions with these guidelines. It is currently working intensively on the development of a sustainability strategy and the comprehensive integration of the guidelines as well as the strategy into the existing documentation framework.
Dealing with sustainability risks in investment processes
Sustainability risks within the meaning of Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosure requirements in the financial services sector (“EU Sustainable Finance Disclosure Regulation” (SFDR)) are environmental, social or corporate governance incidents or conditions, the occurrence of which could have actual or potential material adverse effects on the assets, financial position and results of operations as well as on the reputation of a company and thus on the value of the investment of the investment assets. These effects may have an impact on the assets, financial position and results of operations of the investment assets as well as on the reputation of the company. Sustainability risks can have a significant impact on all known risk types and contribute as a factor to the materiality of these risk types. Examples of risk types include market risk, liquidity risk, counterparty risk and operational risk.
As part of its investment process, Art-Invest Real Estate Funds GmbH not only includes relevant financial risks in its investment decision and evaluates them on an ongoing basis, but also takes into account sustainability risks that can have a significant material negative impact on the performance of an investment.
The extent to which sustainability components are taken into account in the respective investment process is discussed in close consultation with the investors of the respective investment fund, defined and subsequently implemented in accordance with their individual understanding of sustainability and their individual sustainability needs.
Dealing with adverse impacts of investment decisions on sustainability factors
Art-Invest Real Estate Funds GmbH considers material adverse impacts on sustainability factors in its investment decisions and takes into account environmental, social and employee concerns, respect for human rights and the fight against corruption and bribery and has established internal strategies for this purpose.
The ability to consider the most significant adverse sustainability impacts depends largely on the availability of relevant information in the market. The required data is not available to a sufficient extent and in the required quality for all assets in which the AIFM invests via the managed mandates.
Art-Invest Real Estate Funds GmbH will calculate its utilization for the following adverse impact sustainability indicators defined in the regulatory technical standards and applicable to real estate in the future, publish them as required starting in 2022, and work to improve current utilization.
- As a matter of principle, the Company does not invest in real estate used for the extraction, storage, transportation, or production of fossil fuels.
- The company continuously monitors the energy efficiency of the properties it manages. It will publish the proportion of inefficient properties and actively work towards improvement. Investments in less energy-efficient properties are also explicitly permitted if this is done with the aim of significantly improving such properties in terms of their energy efficiency in the short to medium term by means of suitable measures.
- The company will calculate the greenhouse gas emissions as well as the energy consumption intensity for the properties it manages.
The aforementioned indicators shall be considered equally weighted.
The obligation to present the participation policy according to Article 3g of Directive 2007/36/EC (so-called “Shareholder Rights Directive”) is not relevant for Art-Invest Real Estate Funds GmbH. Within the scope of its business model, the AIFM does not invest in stock corporations and consequently does not participate in annual general meetings of stock corporations or may not delegate the exercise of voting rights.
Art-Invest Real Estate Funds GmbH signed the Principles for Responsible Investment (UN PRI) in November 2020 as a recognized sustainability standard. Furthermore, Art-Invest complies with the rules of conduct of the German Investment Funds Association (BVI – Bundesverband Investment und Asset Management e.V.) in the version of July 1, 2019.
Consideration of sustainability risks in the remuneration
The remuneration policy of Art-Invest Real Estate Funds GmbH does not include any incentives to take sustainability risks for the AIFM or the investment funds it manages.