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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 » Implementation processes

Implementation processes

FI 01. Incorporation strategies applied

01.1. Indicate 1) Which ESG incorporation strategy and/or combination of strategies you apply to your actively managed fixed income investments; and 2) The proportion (+/- 5%) of your total actively managed fixed income investments each strategy applies to.

SSA
80 Screening alone
0 Thematic alone
0 Integration alone
0 Screening + integration strategies
0 Thematic + integration strategies
20 Screening + thematic strategies
0 All three strategies combined
0 No incorporation strategies applied
100%
Corporate (financial)
80 Screening alone
0 Thematic alone
0 Integration alone
20 Screening + integration strategies
0 Thematic + integration strategies
0 Screening + thematic strategies
0 All three strategies combined
0 No incorporation strategies applied
100%
Corporate (non-financial)
79 Screening alone
0 Thematic alone
0 Integration alone
0 Screening + integration strategies
0 Thematic + integration strategies
21 Screening + thematic strategies
0 All three strategies combined
0 No incorporation strategies applied
100%

01.2. Describe your reasons for choosing a particular ESG incorporation strategy and how combinations of strategies are used.

U.S. Trust:  The following description applies only to the U.S. Trust Socially Innovative Fixed Income portfolio. U.S. Trust utilizes a proprietary Social Innovation screening process, by which fixed income investment universes (corporate or otherwise) are screened across 400 different data points related to ESG issues. U.S. Trust segments these data points into three categories: Environmental Stewardship, Human Capital Engagement, and Corporate Citizenship. The Social Innovation screening process serves to narrow down the investment universe to only those issuers that exemplify top stewards of the above mentioned categories. The screening process is proprietary and dynamic which allows the portfolio managers to customize for our clients based on specific ESG concerns. 

MSG/MAA:  MAA offers negative screening capability for corporate fixed income strategies at the direction/request of the client.  Screening alone accounts for 100% of MSG/MAA’s approach.

01.3. Additional information [Optional].


FI 02. ESG issues and issuer research (Private)


FI 03. Processes to ensure analysis is robust

03.1. Indicate how you ensure that your ESG research process is robust:

03.2. Describe how your ESG information or analysis is shared among your investment team.

03.3. Additional information. [Optional]

US 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. 

MSG/MAA: For the discretionary investment management in Merrill Lynch, MAA uses screens provided by a third party provider to negatively screen accounts. These research screens encompass religious, industry, country, sector, and individual company screens. At present time, clients and/or beneficiaries are not notified when changes to the underlying screened components are adjusted. 


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