For our specialist equities funds, where we hold ownership positions, we meet with companies to discuss investment risks and opportunities. These meetings involve a review of all salient business investment issues, including strategy, financial performance and, where relevant, environmental, social and governance factors.
Our investment focus is UK-listed entities and meetings are organised directly with companies or via company brokers.
Engagement activity is undertaken in-house by analysts and portfolio managers. This is because we consider engagement to have material financial implications and is best understood within the context of the wider investment process.
We have internal systems to track and organise our company meeting activity.
 We note that over 90% of our holdings in these funds are via derivatives rather than shares.