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Bank of America Global Wealth and Investment Management

PRI reporting framework 2018

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

(C) Implementation: Integration

FI 11. Integration overview

11.1. Describe your approach to integrating ESG into traditional financial analysis.

US Trust:  The GWIM CIO Portfolio Oversight Team measures the portfolio management team’s ability to meet their stated investment objective through consistent execution of their philosophy and process.

The GWIM CIO Portfolio Oversight Team performs one of the risk management functions for all U.S. Trust equity and fixed income strategies.  The GWIM CIO Portfolio Oversight Team conducts a biannual review that analyzes management, research, and investment factors to influence a model portfolio’s performance. On a biannual basis, the The GWIM CIO Portfolio Oversight Team and portfolio management teams will review the qualitative and quantitative output of the working group and identify sources of under/over performance.  Factors analyzed include currency exposure, geographic exposure, cap bias, and interest rate exposure, among others.  The The GWIM CIO Portfolio Oversight Team is chaired by a senior member of the Portfolio Analytics and Consulting team, including members of the Investment Solution team, and U.S. Trust’s Compliance Risk Management team.

This process is applied on biannual basis to all equity and fixed income internally managed solutions.  GWIM CIO Portfolio Oversight Team is independent of the Socially Innovative Investing team. 

MSG/MAA:  MAA does not integrate ESG into traditional financial analysis for it's screening capabilities.

11.2. Describe how your ESG integration approach is adapted to each of the different types of fixed income you invest in.

Corporate (financial)

US Trust:  The GWIM CIO Portfolio Oversight Team measures the portfolio management team’s ability to meet their stated investment objective through consistent execution of their philosophy and process.

The GWIM CIO Portfolio Oversight Team performs one of the risk management functions for all U.S. Trust equity and fixed income strategies.  The GWIM CIO Portfolio Oversight Team conducts a biannual review that analyzes management, research, and investment factors to influence a model portfolio’s performance. On a biannual basis, the The GWIM CIO Portfolio Oversight Team and portfolio management teams will review the qualitative and quantitative output of the working group and identify sources of under/over performance.  Factors analyzed include currency exposure, geographic exposure, cap bias, and interest rate exposure, among others.  The The GWIM CIO Portfolio Oversight Team is chaired by a senior member of the Portfolio Analytics and Consulting team, including members of the Investment Solution team, and U.S. Trust’s Compliance Risk Management team.

This process is applied on biannual basis to all equity and fixed income internally managed solutions.  GWIM CIO Portfolio Oversight Team is independent of the Socially Innovative Investing team. 

11.3. Additional information [OPTIONAL]


FI 12. Integration - ESG information in investment processes

12.1. Indicate how ESG information is typically used as part of your investment process.

Select all that apply
Corporate (financial)
ESG analysis is integrated into fundamental analysis
ESG analysis is integrated into security weighting decisions
ESG analysis is integrated into portfolio construction decisions
ESG analysis is a standard part of internal credit ratings or assessment
ESG analysis for issuers is a standard agenda item at investment committee meetings
ESG analysis is regularly featured in internal research notes or similar
ESG analysis is a standard feature of ongoing portfolio monitoring
ESG analysis features in all internal issuer summaries or similar documents
Other, specify

12.2. Additional information [OPTIONAL]

U.S. Trust – The selections above only apply to the UST Socially Innovative Fixed Income customization.


FI 13. Integration - E,S and G issues reviewed

13.1. Indicate the extent to which ESG issues are reviewed in your integration process.

Environment
Social
Governance
Corporate (financial)

Environmental

Social

Governance

13.2. Please provide more detail on how you review E, S and G factors in your integration process.

Corporate (financial)

U.S. Trust: The portfolio management team leverages approximately 400 ESG data points, provided by a third party data provider, that are incorporated into the social innovation positive screening process. This process only applies to the U.S. Trust Socially Innovative Fixed Income customization.

13.3. Additional information.[OPTIONAL]


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