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Trilogy Global Advisors, LP (Delisted)

PRI reporting framework 2017

You are in Direct - Listed Equity Active Ownership » Engagement

Engagement

Overview

LEA 01. Description of approach to engagement

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate whether your organisation has a formal engagement policy.

01.2. Indicate what your engagement policy covers:

01.3. Attach or provide a URL to your engagement policy. [Optional]

URL

Attach document


01.4. Provide a brief overview of your organization’s approach to engagement

We carry out engagement activities in our meetings with companies whom we are either invested in or considering an investment.  Where a company scores poorly, our analysts prepare a summary of those issues which we can raise with management in order for them to improve their overall governance. We also have clear internal escalation policies and documented response procedures to ensure that issues are pursued to as satisfactory outcome as possible.  We also participate in a Collective Engagement initiative facilitated by the UN PRI. This gives us the option to join with other institutional investors to encourage companies to disclose information which can help clarify issues raised by non-governmental organizations and the media and to reform and implement verifiable measures to remediate specific issues. It also allows us to raise and sponsor our own issues, via this service, where we believe collective action is justified. We have only just initiated this project.

01.5. Additional information [optional]

As an institutional investor, Trilogy is committed to preserving and growing the assets that our clients entrust to us. Our stewardship activities include monitoring and engaging with companies on matters such as strategy, performance, risk, capital structure, and corporate governance, including culture and remuneration, as well as environmental and social factors which we believe can affect investment performance, create potential investment risks and provide an indication of management’s corporate stewardship and responsibility. Trilogy incorporates ESG considerations fully into our investment process for all strategies. To the extent that a company is pursuing policies and practices which we believe are harmful to the long-term value of a company, those policies are factored into our valuation analysis of a company. We do this through scenario modelling by quantifying the impact on current earnings, quantifying the impact on the long-term growth of earnings from penalties and customer perception, and quantifying the impact on valuation from continuing to pursue these policies. In the same way we factor into our investment analysis the extent to which a company is pursuing policies and practices which we believe benefit the value of the company.  We are proactive in identifying these issues by methodically screening our holdings. Trilogy uses a third party service provider, MSCI Impact Monitor, to evaluate companies on their strategies as well as on their performance with respect to ESG. To the extent that companies score poorly on these screens, we review the impact of the specific issue on revenues, profitability, earnings, capital requirements and valuation.

We carry out engagement activities in our meetings with companies whom we are either invested in or considering an investment.  Where a company scores poorly, our analysts prepare a summary of those issues which we can raise with management in order for them to improve their overall governance. We also have clear internal escalation policies and documented response procedures to ensure that issues are pursued to as satisfactory outcome as possible.

 Trilogy is a signatory to the United Nations Principles of Responsible Investing. We also participate in a Collective Engagement initiative facilitated by the UN PRI. This gives us the option, in addition to proxy voting decisions, to join with other institutional investors to encourage companies to disclose information which can help clarify issues raised by non-governmental organizations and the media and to reform and implement verifiable measures to remediate specific issues. It also allows us to raise and sponsor our own issues, via this service, where we believe collective action is justified. We have only just initiated this project.


LEA 02. Reasoning for interaction on ESG issues (Not Completed)


Process

Process for engagements run internally

LEA 03. Process for identifying and prioritising engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

03.1. Indicate whether your organisation has a formal process for identifying and prioritising engagement activities carried out by internal staff.

03.2. Describe the criteria used to identify and prioritise engagement activities carried out by internal staff.

03.3. Additional information. [Optional]


LEA 04. Objectives for engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

04.1. Indicate if you define specific objectives for your engagement activities.

04.2. Indicate if you monitor the actions that companies take following your engagements.

04.3. Indicate whether your organisation defines milestones and goals for engagement activities carried out by internal staff.

04.4. Indicate if you do any of the following to monitor and evaluate the progress of your engagement activities carried out by internal staff.

04.5. Additional information. [Optional]


Process for engagements conducted via collaborations

LEA 05. Process for identifying and prioritising collaborative engagement

New selection options have been added to this indicator. Please review your prefilled responses carefully.

05.1. Indicate whether your organisation has a formal process for identifying and prioritising collaborative engagements

05.2. Describe the criteria used to identify and prioritise collaborative engagements

05.3. Additional information [Optional]

Trilogy participates in the Collective Engagement initiative facilitated by the UN PRI. This gives us the option, in addition to proxy voting decisions, to join with other institutional investors to encourage companies to disclose information which can help clarify issues raised by non-governmental organizations and the media and to reform and implement verifiable measures to remediate specific issues. It also allows us to raise and sponsor our own issues, via this service, where we believe collective action is justified. We have only just initiated this project.


LEA 06. Objectives for engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

06.1. Indicate if you define specific objectives for your engagement activities carried out collaboratively.

06.2. Indicate if you monitor the actions companies take following your collaborative engagements.

06.3. Indicate whether your organisation defines milestones and goals related to engagement activities carried out via collaborations.

06.4. Indicate if you do any of the following to monitor and evaluate the progress of your collaborative engagement activities.

06.5. Additional information. [Optional]


General processes for all three groups of engagers

LEA 09. Share insights from engagements with internal/external managers (Private)


LEA 10. Tracking number of engagements

10.1. Indicate if you track the number of engagements your organisation participates in.

Type of engagement
Tracking engagements

Individual / Internal staff engagements

Collaborative engagements

10.2. Additional information. [OPTIONAL]


Outputs and outcomes

LEA 11. Number of companies engaged with, intensity of engagement and effort (Private)


LEA 12. Engagement methods (Private)


LEA 13. Engagements on E, S and/or G issues (Not Applicable)


LEA 14. Companies changing practices / behaviour following engagement (Private)


LEA 15. Examples of ESG engagements (Private)


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