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Parnassus Investments

PRI reporting framework 2017

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You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income » (A) Implementation: Screening

(A) Implementation: Screening

FI 07. Types of screening applied

07.1. Indicate the type of screening you conduct.

Select all that apply
SSA
Corporate (financial)
Corporate (non-financial)
Securitised
Negative/exclusionary screening
Positive/best-in-class screening
Norms-based screening

07.2. Describe your approach to screening for internally managed active fixed income

Parnassus Investments applies exclusionary screens to the entire investment universe. The Parnassus exclusionary screens apply to all securities in the Fixed Income portfolio, including corporate, SSA and asset-backed securities. The purpose of the exclusionary screens is to avoid investment in companies and agencies that derive significant revenue from the following activities:

  • Manufacture alcohol or tobacco products
  • Direct involvement with gambling
  • Manufacture of weapons
  • Generation of electricity from nuclear power
  • Business involvement with Sudan

U.S. Treasuries are available for inclusion in the Parnassus Fixed Income Portfolio as they do not violate the firm's policy on exclusionary screens.

Regarding corporate bonds, Parnassus Investments also seeks to invest in companies with positive performance on ESG factors that include:

  • Corporate governance and business ethics
  • Employee benefits and corporate culture
  • Stakeholder relations
  • Product, customers and supply chain
  • Environmental impact

Regarding SSA-related organizations, Parnassus Investments considers environmental and social factors on a case-by-case basis.

07.3. Additional information. [Optional]


FI 08. Negative screening - overview and rationale

08.1. Indicate why you conduct negative screening.

SSA

SSA

Corporate (financial)

Corporate (fin)

Corporate (non-financial)

Corporate (non-fin)

Securitised

Securitised

08.2. Describe your approach to ESG-based negative screening of issuers from your investable universe.

Parnassus Investments applies exclusionary screens to the entire investment universe. The spirit of these exclusionary screens is to avoid investment in companies with negative impacts that outweigh any potential benefits from their business activities. Parnassus Investments does not invest in companies that derive significant revenue from the following activities:

  • Manufacture alcohol or tobacco products
  • Direct involvement with gambling
  • Manufacture of weapons
  • Generation of electricity from nuclear power
  • Business involvement with Sudan

08.3. Additional information. [Optional]


FI 09. Examples of ESG factors in screening process (Private)


FI 10. Screening - ensuring criteria are met

10.1. Indicate which systems your organisation has to ensure that fund screening criteria are not breached in fixed income investments.

Type of screening
Checks
Negative/exclusionary screening?
Positive/best-in-class screening

10.2. Additional information. [Optional]


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