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GLG Partners LP

PRI reporting framework 2017

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You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income

ESG incorporation in actively managed fixed income

Implementation processes

FI 04. Incorporation strategies applied

04.1. 以下を記載してください。 (1)組織でアクティブ運用する債券投資について、どのESG組み入れ戦略や組み合わせを使用しているか(2)各戦略が適用されるアクティブ運用債券投資合計の割合(+/- 5%)

社債(金融)
80 スクリーニングのみ
0 テーマのみ
20 統合のみ
0 スクリーニング + 統合戦略
0 テーマ + 統合戦略
0 スクリーニング + テーマ戦略
0 3つの戦略すべての組み合わせ
0 組み入れ戦略を適用していない
100%
社債(非金融)
80 スクリーニングのみ
0 テーマのみ
20 統合のみ
0 スクリーニング + 統合戦略
0 テーマ + 統合戦略
0 スクリーニング + テーマ戦略
0 3つの戦略すべての組み合わせ
0 組み入れ戦略を適用していない
100%

04.2. 特定のESG組み入れ戦略を選択している主な理由と、使用する戦略の組み合わせを説明してください。

The Firm's blanket master list screen for controversial arms and munitions represents the largest portion of the Firm's fixed income ESG incorporation.

The remaining portion accounts for the integration of ESG, specficially governance. Governance for sovereign and corporate debtr alike, and social consequences of policy are analysed as part of the investment process and are critical to GLG's fixedc income investment team's views on debt/GDP path, debt sustainability and currency performance (via the performance of external accounts).

04.3. 補足情報。 [任意]


FI 05. ESG issues and issuer research (Private)


FI 06. Processes to ensure analysis is robust

06.1. 組織のESG調査プロセスの堅牢性を確保する方法を記載してください。

06.2. ESG情報または分析を投資チーム内で共有する方法を記載してください。

06.3. 補足情報。[任意]


(A) Implementation: Screening

FI 07. Types of screening applied

07.1. 実施するスクリーニングの種類を記載してください。

社債(金融)
社債(非金融)
ネガティブ/ 排他的スクリーニング
ポジティブ/業界最高のスクリーニング
基準に基づくスクリーニング

07.2. 組織内でアクティブ運用している債券に適用するスクリーニングのアプローチを記載してください。

We focus on knowledge and awareness of ESG issues to make informed investment decisions when assessing risks and valuations, rather than exclusion and divestment.  However, Man Group recognizes the importance of broader norms-based mandates as well, and we will structure them for clients that want to incorporate specific company or sector restrictions.

07.3. 補足情報。 [任意]


FI 08. Negative screening - overview and rationale (Not Applicable)


FI 09. Examples of ESG factors in screening process (Not Completed)


FI 10. Screening - ensuring criteria are met

10.1. 債券投資においてファンドスクリーニングの基準に違反がないことを確認するために組織が使用しているシステムを記載してください。

スクリーニングの種類
ポジティブ/業界最高のスクリーニング
基準に基づくスクリーニング​

10.2. 補足情報。 [任意]


(C) Implementation: Integration

FI 14. Integration overview

14.1. ESGを従来の財務分析に統合するアプローチを説明してください。

More than 80% of the exposures in the GEM Debt Total Return and GEM Bond Strategies, and 100% of the exposure in the Local Currency and Rates strategy are composed by investments in sovereign instruments, and currency and interest rate derivatives. Governance of such sovereigns and social consequences of policy are analyzed as part of the investment process and are critical to our views on debt/GDP path, debt sustainability and currency performance (via the performance of external accounts).

14.2. 投資する債券の各種類に対してESG統合アプローチをどのように調整するのか説明してください。

社債(金融)

The remaining 20% of exposure is usually concentrated in a limited number of large and systemically important quasi sovereign companies where the main consideration in the analysis will be the level of sovereign support that those companies are likely to receive from the government in the event of credit distress. Hence, they are to a large part an extension of the sovereign process outlined above. Notwithstanding this, the portfolio management team will take into account ESG factors when analyzing the individual companies that it considers as candidates for investment. In this regard it is supported by the general Man ESG infrastructure

社債(非金融)

The remaining 20% of exposure is usually concentrated in a limited number of large and systemically important quasi sovereign companies where the main consideration in the analysis will be the level of sovereign support that those companies are likely to receive from the government in the event of credit distress. Hence, they are to a large part an extension of the sovereign process outlined above. Notwithstanding this, the portfolio management team will take into account ESG factors when analyzing the individual companies that it considers as candidates for investment. In this regard it is supported by the general Man ESG infrastructure

14.3. 補足情報。 [任意]


FI 15. Integration - ESG information in investment processes

15.1. ESG情報が、通常、投資プロセスの一部としてどのように使用されるのか記載してください。

当てはまるものをすべて選択してください
社債(金融)
社債(非金融)
ESG分析をファンダメンタル分析に組み込んでいる
ESG分析を証券ウェイト判断に組み込んでいる
ESG分析をポートフォリオ構築判断に組み込んでいる
ESG分析は組織内の信用格付けまたは評価の標準要素になっている
発行体のESG分析が、投資委員会の標準議題になっている
組織内の調査レポートまたは同様文書で定期的にESG分析が取り上げられる
ESG分析は、進行中のポートフォリオ監視の標準項目に入っている
ESG分析は、すべての組織内の発行体概要または同様文書に含まれる
その他(具体的に記載してください)

15.2. 補足情報 [任意]


FI 16. Integration - E,S and G issues reviewed

16.1. 組織の統合プロセスでESG問題をどのように検討するか示してください。

E(環境)
S(社会)
G(ガバナンス)
社債(金融)

Environmental

Social

Governance

社債(非金融)

Environmental

Social

Governance

16.2. 組織の統合プロセスでE/S/G要因を検討する方法を詳しく説明してください。

社債(金融)

The majority of the non sovereign exposure of the portfolios is to quasi-sovereign companies. As a result, the main consideration in the analysis will be the level of sovereign support that those companies are likely to receive from the government in the event of credit distress. Hence, they are to a large extent and extension of the sovereign process.

The portfolio management team will take into account ESG factors when analyzing the individual companies that it considers as candidates for investment. Factors usually considered are corporate governance (e.g. risk management, director independence and expertise, transparency / accountability), social factors (eg employee relations/ strike actions, product responsibility). Depending on the sector of activity, environmental issues may also be considered.

社債(非金融)

The majority of the non sovereign exposure of the portfolios is to quasi-sovereign companies. As a result, the main consideration in the analysis will be the level of sovereign support that those companies are likely to receive from the government in the event of credit distress. Hence, they are to a large extent and extension of the sovereign process.

The portfolio management team will take into account ESG factors when analyzing the individual companies that it considers as candidates for investment. Factors usually considered are corporate governance (e.g. risk management, director independence and expertise, transparency / accountability), social factors (eg employee relations/ strike actions, product responsibility). Depending on the sector of activity, environmental issues may also be considered.

16.3. 補足情報。 [任意]


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