The part of our centralised database dedicated to the monitoring of engagement activities allows us to track achievements for each engagement. The engagement approach was formalized recently and we started a significant number of engagements this year. Although we began to see the very first results at the end of the year, it will take some years to reach a significant number of companies changing their practices.
Regarding collaborative engagements, Sycomore AM joined its first collaborative engagement in July 2016. The Human Capital Management (HCM) Coalition is a cooperative effort among a diverse group of institutional investors to further elevate human capital management as a critical component in company performance.
As the project was in its launching phase in 2016, we did not engage with companies in the framework of this collaborative engagement during the reporting year.