Sustainable finance remains at the forefront of regulatory priorities as 2025 progresses, with fund managers under increasing pressure to stay ahead of evolving requirements.
For firms distributing across Europe, the stakes are particularly high — not only for ensuring compliance but also for maintaining investor confidence in their sustainability credentials.
Zeidler Group, which offers support for investment funds law, recently delved into the new SFDR clarifications for Article 8 and 9 products.
In August 2025, the European Supervisory Authorities (ESAs) issued a series of Q&As under the Sustainable Finance Disclosure Regulation (SFDR), marking a significant development for fund managers preparing periodic reports for Article 8 and Article 9 products. These new clarifications, now available in Zeidler’s Global Knowledge Hub (GKH), aim to bring much-needed consistency and clarity to sustainability disclosures across the European market.
One of the key updates concerns the calculation and presentation of “top investments” within periodic reports. The ESAs have now provided explicit guidance on standardising this aspect of disclosure to ensure comparability and reduce interpretative discrepancies among asset managers.
Another important clarification focuses on the minimum proportion of environmentally and socially sustainable investments. Fund managers are now required to ensure that the information in their periodic reports aligns precisely with their stated investment strategies and binding commitments. This is designed to improve comparability between Article 8 and Article 9 funds.
The changes apply with immediate effect and are set to play a crucial role as firms prepare their Q3 and Q4 reporting cycles.
To support fund managers in navigating these updates, the GKH has been fully refreshed to include the latest SFDR guidance alongside broader compliance insights. The platform offers expert-curated resources on SFDR compliance, UCITS and AIF distribution rules, marketing regimes, and ongoing regulatory obligations across more than 80 jurisdictions. With fixed annual subscription options and direct access to legal experts, the GKH aims to streamline compliance for asset managers operating in an increasingly complex regulatory environment.
For more about the SFDR clarifications, read the full story here.
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