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Pengana Capital Group

PRI reporting framework 2018

You are in Organisational Overview » Asset class implementation gateway indicators

ゲートウェイ資産クラス実施指標

OO 10. Active ownership practices for listed assets

10.1. 報告年度において組織が実施した積極的な保有活動(アクティブ・オーナーシップ)を選択してください。

上場株式 – エンゲージメント

上場株式 – 議決権行使


OO 11. ESG incorporation practices for all assets

11.1. 投資決定および/または積極的な保有の実務に(報告年度中に)責任投資を実施した場合は、組織内で運用される資産クラスを選択してください。

上場株式

ヘッジファンド

報告年度中に組織外の運用会社の選定、指名や、モニタリングプロセスにおいてESGの組み入れや積極的な保有に取り組んだ場合は、組織外で運用される資産クラスを選択してください。
アセット・クラス
組織外の運用会社の選定、指名や、モニタリングプロセスにおいてESGの組み入れや積極的な保有
上場株式

組織外の運用会社の選定、指名や、モニタリングプロセスにおいてESGの組み入れや積極的な保有

ヘッジファンド

組織外の運用会社の選定、指名や、モニタリングプロセスにおいてESGの組み入れや積極的な保有

11.4. 投資マネジャーの選定、任命、モニタリングプロセスに、投資に関する考慮事項がどのように含まれているかを簡単に説明してください。

Our inclusion of responsible investing considerations depends on the fund mandate.  If the fund has an ESG or ethical mandate we will select a manager with the appropriate ESG strategy to manage that fund.  Please see below for the details of the three externally managed funds and their incorporation of ESG factors:

 

Pengana WHEB Sustainable Impact Fund

The Pengana WHEB Sustainable Impact Fund aims to generate capital growth over the medium to longer term.

Pengana has appointed UK-based WHEB Asset Management LLP (WHEB) to manage the Fund. WHEB is a global leader in sustainable investing with a focus on the opportunities created by the transition to more sustainable, resource efficient and energy efficient economies. 

WHEB have identified critical environmental and social challenges facing the global population over the coming decades. WHEB invests in a diverse portfolio of global companies providing solutions to these sustainability challenges via nine sustainable investment themes – five of these are environmental (cleaner energy, environmental services, resource efficiency, sustainable transport and water management) and four are social (education, health, safety and well-being).

The portfolio is actively managed and stock selection is based on deep research integrating financial factors with environmental, social and governance factors.

Pengana Global Small Companies Fund (does not have an ethical mandate).

The Pengana Global Small Companies Fund is an actively managed portfolio of global small and mid-cap stocks.  The Fund’s investments are managed by specialist US-based manager Lizard Investors LLC, who create and actively manage portfolios not typically owned by large institutions.  The investment manager uses a value-oriented approach to identify and invest in quality businesses that  create significant value but are mispriced, overlooked, or out of favour.

ESG factors are considered as part of the bottom-up analysis undertaken on each stock and form part of the qualitative assessment.  They are seen primarily as a risk management tool, with ESG issues considered for both their short term and long term impact and hence their materiality to a stock.

Companies with poor corporate governance, social or environmental histories are marked down, however under our qualitative analysis and all else being equal, would be required to show considerable more upside than those without a poor history for us to invest in them.

A consideration of corporate governance is critical to every investment decision and a company without a well thought out policy is qualitatively marked down under our process.

Pengana PanAgora Absolute Return Global Equity Fund (does not have an ethical mandate)

The Fund is managed by PanAgora Asset Management which is based in Boston Massachusetts. The Fund’s objective is to seek attractive absolute returns by identifying and exploiting multiple inefficiencies that may exist in global equity markets. The Fund employs a long/short equity strategy which aims to construct a portfolio that is generally neutral to market movements. As such the performance of the investment strategy is largely independent of the market’s performance. The Fund seeks to achieve its objective by using a diversified set of strategies that have low correlation to one another and which are designed to capitalise on long-term, intermediate-term and short-term inefficiencies. 

PanAgora does not take labour standards or environmental, social or ethical considerations into account when making investment decisions for the Fund.

Corporate governance, however, is considered by PanAgora’s models within the long-term portfolio, where the fundamental strengths and weaknesses of a company are reviewed (i.e. accounting practices, market-specific accounting regulations, the impact of such regulatory requirements and board compensation) within applicable markets.


OO 12. Modules and sections required to complete

12.1. 自主的な報告を希望される場合には、該当するするモジュールやセクションを以下のリストから選択して下さい。組織のAUMの10%以上を占める資産クラスについてのみ報告が義務付けられています。

中核的なモジュール

直接またはサービスプロバイダーを経由したRI実施

自己運用 - 上場株式の組入れ

自己運用 - 上場株式の積極的な保有

外部の運用会社を経由したRI実施

委託 - 組織外の運用会社の選定、指名、モニタリング

終了モジュール

12.2. Additional information. [Optional]


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