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Cadence Investment Partners LLP

PRI reporting framework 2018

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. Attach or provide a URL to your engagement policy.

01.3. Indicate what your engagement policy covers:

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

We have a two pronged approach. For companies within the portfolio we engage with management normally on an annual basis folliwing the publication of the annual report and accounts. In addition we listen and sometimes question the management at their official announcment broadcast of quarerly results on various aspects of ESG. 

In addition when we add a compny to our investble universe a full detailed analysis is submitted by one of the analysts and then reviewed by our senior analyst in Hong Kong. This is doen after engagement with the management of the target company and could be any time of the year rather thanjust after the publication of the accounts.

01.6. Additional information [optional]


LEA 02. Reasoning for interaction on ESG issues

02.1. Indicate the method of engagement, giving reasons for the interaction.

Type of engagement

Reason for interaction

Individual/Internal staff engagements
Collaborative engagements
Service provider engagements

Please specify why your organisation does not engage via service providers.

We want to do the analysis ourselves. We ahve the expertise internally to do so without any recourse the the numerous outside suppliers of such information. In addition the a cost aspect would mean a potential increase in costs to our clients which we are keen to keep at a minimum

02.2. Additional information. [Optional]


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.

other description

          We engage with company management routinely as part of our research process
        

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 during and following your engagements activities carried out by internal staff.

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

04.4. Additional information. [Optional]

Our primary research reports cover many ESG aspects as a matter of course


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

05.3. Additional information [Optional]

This will be something we add in thre coming year as we add staff to the organisation


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 during and following your collaborative engagements.

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

06.4. Additional information. [Optional]


General processes for all three groups of engagers

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

09.1. Indicate if insights gained from your engagements are shared with your internal or external investment managers.

Type of engagement

Insights shared

Individual/Internal staff engagements

Collaborative engagements

09.2. Additional information. [Optional]

We discuss any material insights gained from engagement with management at our weekly partners meeting.


LEA 10. Tracking number of engagements

10.1. Indicate if you track the number of your engagement activities.

Type of engagement
Tracking engagements

Individual / Internal staff engagements

Collaborative engagements

10.2. Additional information. [OPTIONAL]

A file on every company we engage with is kept on a centralised database which is for the exclusive use of our analysts and fund manager. Each company file includes broker reports of significance, offiial company announcments and at least the last five years report and accounts as well as Cadence's internal review of the company engagement which will include any ESG review, as well as a valuation template showing the last ten years and the expectations for the next five years in terms of cash flows built around an internally produced earnings and balance sheet model. These are updated at least annually.


Outputs and outcomes

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


LEA 12. Engagement methods (Private)


LEA 13. Companies changing practices / behaviour following engagement (Private)


LEA 14. Examples of ESG engagements (Private)


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