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Loomis, Sayles & Company, L.P.

PRI reporting framework 2018

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SG 05. RI goals and objectives

05.1. 組織が責任投資活動に関して目的を設定して見直しを行っているかどうか、および、行っている場合にはその頻度を記載してください。

05.2. Additional information. [Optional]

Objectives are within the purview of the ESG Committee.  The ESG committee meets periodically to review the responsible engagement activities of Loomis Sayles, to further the integration of ESG issues into the investment process (including providing state of the art tools to Loomis Sayles' investment professionals), to oversee activities related to membership in advocacy groups, including the UNPRI and the UK Financial Reporting Council (UK Stewardship Code), and to further the progress of Loomis Sayles in engaging with issuers on matters of environmental, governance and social practices.  Further, a subcommittee of the ESG Committee meets at least monthly to plan and deliver internal training, to identify external training opportunities, to prepare public statements on ESG activities at Loomis Sayles and other communications (including for specific clients), to prepare the UN PRI assessment, and to address other ESG-related matters.

SG 06. Main goals/objectives this year

06.1. 報告年度に組織として設定している責任投資の主な目的を挙げてください。



          Delivery of training on ESG incorporation to investment professionals.  Increased dialogue on ESG integration as a result of the training.


Training was delivered to almost all investment professionals, with remaining groups scheduled for early 2018.  Follow-up education that was prompted by the original sessions is currently being prepared.  A result of the training has been increased dialogue and implementation of such things as measurement tools (e.g., carbon footprint analysis).  Subsequent discussions have also led to an assessment of additional service providers and more focused ESG incorporation by the investment professionals.


          Delivery of training on ESG engagement to investment professionals.  Increased dialogue on ESG engagement as a result of the training.


Included in the training discussed above was an explanation of and a need for engagement on ESG matters.  As discussed above, such training occurred for the majority of investment professionals, with the remainder scheduled for early 2018.  The resulting dialogues led to a greater understanding of the interactions necessary to influence issuers' behavior in furtherance of improved ESG practices.


          Deliver ESG training across investment groups and to encourage greater population of the ESG engagement database.


Training was delivered to almost all investment professionals, with remaining groups scheduled for early 2018.  Training included (1) an emphasis on the value to our ESG efforts of populating the ESG engagement database, including providing examples of engagement activites, such as discussions with management about E, S or G issues; and (2) delivery of written educational materials, policy statements and examples of ESG resources available to the investment professionals. 


          Delivery of training on ESG incorporation to investment professionals.


Our research analysts evaluate a wide range of investment criteria to assess the quality of an issuer, including potential ESG-related risks and opportunities that could impact decisions regarding investment selection.  Specifially, the analysts strive to develop a thorough understanding of an issuer's management strength and strategy, governance, and use of human and natural resources, as well as regulatory and political risks.  These factors are critical to evaluating the long-term sustainability of an issuer, its profitability, and, ultimately its expected contribution to client portfolios.  

In 2016, our efforts were focused on increasing awareness among our investment professionals that the risks associated with ESG issues were included within the fundamental research and risk analysis conducted by them, without specifically identiyfing those risks as related to E, S and G matters.  This year, a major objective of the training described above was to emphasize to the investment professionals the importance of identifying and focusing specifically on ESG risks in order to take them into consideration in the management of their investment portfolios.  Feedback indicates that, as a result of the training, ESG matters figure more prominently in determining the desirability and suitability of investments.



          To monitor correlation between higher ESG quality and higher portfolio performance.


          To enhance ESG review in the investment risk review processes


Loomis Sayles' "invesment risk review" was previously called "peer review". In 2016, we initiated the inclusion of ESG analysis into attribution vs. performance portion of the peer review.  In 2017, we elaborated on the attribution analysis and required further articulation of ESG awareness and consideration of the risks and opportunities of lower rated ESG securities' inclusion in a portfolio.



06.2. 補足情報 [任意]