MSG/MAA: We have a licensing agreement with a third party provider and our clients can leverage any of the available negative screens. We can accommodate restrictions of up to 30% of an account and prorate cash proceeds of these restrictions across the rest of the model. We currently don't disclose criteria used in our screens nor are clients informed when the screen is changed.
U.S. Trust: The Social Innovation screen seeks to find companies that are best-in-class across the three focus areas within the screening process: Environmental Stewardship, Human Capital Engagement, and Corporate Citizenship. We also employ a Performance Review which is designed to measure how effectively corporations implement the policies and procedures described and evaluated in the previous step, and whether the company capitalizes on external incentives for good corporate behavior. We believe the the 400 data points used in the screening process identify companies that are having positive social impact while simulataneously creating economic advantages for their businesses. The scoring process takes place after each quarter-end and the portfolios are adjusted accordingly. Given U.S. Trust's discretionary approach, changes are implemented and clients may speak with their portfolio managers to be made aware of any changes in a client's portfolio.