We don't have a seperate and formal policy for engagement on ESG issues. Engagement occurs in the course of an analyst reviewing the stock, and is part of the investment process. It slots into broader engagement and investment queries. The analyst is rigorously interrogated on his research by the broader equity team and portfolio managers, and this stimulates initial and may result in further engagement. We see no need for a self standing policy - ESG should be a natural fit into the broader investment process, and not a stand alone step.