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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 » (C) Implementation: Integration

(C) Implementation: Integration

FI 14. Integration overview

14.1. Describe your approach to integrating ESG into traditional financial analysis.

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. Describe how your ESG integration approach is adapted to each of the different types of fixed income you invest in.

Corporate (financial)

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

Corporate (non-financial)

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. Additional information [OPTIONAL]


FI 15. Integration - ESG information in investment processes

15.1. Indicate how ESG information is typically used as part of your investment process.

Select all that apply
Corporate (financial)
Corporate (non-financial)
ESG analysis is integrated into fundamental analysis
ESG analysis is integrated into security weighting decisions
ESG analysis is integrated into portfolio construction decisions
ESG analysis is a standard part of internal credit ratings or assessment
ESG analysis for issuers is a standard agenda item at investment committee meetings
ESG analysis is regularly featured in internal research notes or similar
ESG analysis is a standard feature of ongoing portfolio monitoring
ESG analysis featuresĀ in all internal issuer summaries or similar documents
Other, specify

15.2. Additional information [OPTIONAL]


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

16.1. Indicate the extent to which ESG issues are reviewed in your integration process.

Environment
Social
Governance
Corporate (financial)

Environmental

Social

Governance

Corporate (non-financial)

Environmental

Social

Governance

16.2. Please provide more detail on how you review E, S and G factors in your integration process.

Corporate (financial)

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.

Corporate (non-financial)

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. Additional information.[OPTIONAL]


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