Choix Solidaire is a French jurisdiction SICAV, which is socially responsible and specifically supports solidarity.
It invests at least 5% and up to 10% of its portfolio in French and European non listed solidarity companies, so as to help them develop. Most of the Sicav is managed according to criteria that are both financial and non financial, i.e. it gives priority to the actions and obligations of companies within the Euro zone which have an active social and environmental approach.
Choix Solidaire was created in 2002 in order to finance solidarity companies that were close to the FEBEA. It is managed by Ecofi Investissements, the Crédit Coopératif’s trust company.
On the 31st of December 2007, the total equity (sum representing the net assets) of the SICAV Choix Solidaire was worth 37.178 millions Euros and this diverse SICAV owns a portfolio of 2,955 millions Euros in solidarity securities that are non listed on regulated markets, which represents 7.9% of its net assets. The 18 solidarity establishments concerned by this project work on the following solidarity and alternative sectors:
- Micro-finance and solidarity finance (ADIE, NEF, Caisse Solidaire Nord-pas-de-Calais)
- Non profit making retirement homes (Pierre Angulaire)
- Health and social work (Bank für Sozialwirtschaft)
- Social housing (Habitats solidaires, Chênelet Insertion, SCIC Finantoit)
- Support to starting up a company, and follow up (Boutiques de Gestion de Paris IdF, Garrigue)
- Disability (Websourd)
- Renewable energy (Enercoop)
- Fair trade (Alter Eco, Artisanat SEL, Max Havelaar, Ethiquable)
- North-South development (Acted, GRET)
Since its creation, four members of the FEBEA have used this tool, which has helped to support their development. The BFS and the Caisse Solidaire du Nord-Pas-de-Calais remain on the portfolio of the SICAV Choix Solidaire.