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UBS Asset Management

PRI reporting framework 2018

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You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities » Implementation processes

実施プロセス

LEI 01. Percentage of each incorporation strategy

この指標には新しい設問が追加されています。事前に入力されている回答を精査してください。

01.1. 以下を記載してください。(1)組織でのアクティブ運用上場株式にどのESG組み入れ戦略や組み合わせを使用しているか(2)アクティブ運用している上場株式の戦略または戦略の組み合わせ別内訳

ESG組み入れ戦略 (当てはまるものをすべてお選びください)
アクティブ運用される上場株式に戦略が適用される割合 (推定 +/- 5%)
99 %
アクティブ運用される上場株式に戦略が適用される割合 (推定 +/- 5%)
1 %
アクティブ運用している上場株式の合計 100%

01.2. 組織が実施しているESG組み入れアプローチ、および、特定のESG組み入れ戦略を選択している場合はその理由を説明してください。

In our active equities investment area, material ESG factors are assessed as part of research and stock selection processes. Our analysts produce in-depth company analysis, and work with our specialist Sustainable and Impact Investing (SII) Research team and the Sustainable Equities team to evaluate questions on the governance and environmental and social risks of companies. The analysts' research is supplemented with ESG data from both the UBS ESG Factor Model and various external providers.

During 2017, we incorporated the ESG score in our equity research library platform and developed new tools to flag ESG research and track engagement. These tags are monitored on an on-going basis by the Sustainable and Impact Investing Research team and, where needed, the team provides support to the equity analysts on ESG risks and opportunities for individual company cases or across an entire sector. This feedback loop allows for a comprehensive assessment of companies.

In addition, UBS AM's dedicated Sustainable Equities team manages a range of strategies that integrate material sustainability factors with a rigorous fundamental investment process. The team actively looks for companies that appear attractively valued, with a high sustainability profile and that can benefit from secular themes, such as energy and water conservation, health care, demographics and other long-term trends. On one hand, the Sustainable Equities team leverages UBS AM's wider Equities analyst platform and on the other hand, the Equity Analysts leverage the Sustainable Equities team knowledge and understanding of ESG factors as well as their proprietary ESG Factor Model.

01.3. ESG組み入れ戦略の組み合わせを使用して資産を運用している場合、ESG戦略の組み合わせをどのように使用しているかを簡単に説明してください。 [任意]


LEI 02. Type of ESG information used in investment decision (Private)


LEI 03. Information from engagement and/or voting used in investment decision-making (Private)


A) 実施:スクリーニング

LEI 04. Types of screening applied

04.1. 組織内でアクティブ運用している上場株式に適用するスクリーニングの種類を記載し、説明してください。

スクリーニングの種類

スクリーニング実行者

説明

UBS Group has set standards in product development, investments, financing and supply chain management decisions, which include the stipulation of controversial activities and other areas of concern UBS will not engage in, or will only engage in under stringent criteria. As such, UBS AM will not invest in companies involved in the development, production or purchase of cluster munitions and anti-personnel mines determined to fall within the Swiss Federal Act on War Materials. Equally, we will not invest in any countries and/or regions that have been identified on the UBS Group Sanctioned List. In addition, on client request, we are able to (and do) apply client-specific exclusion lists to segregated mandates based on particular ESG themes such as tobacco, alcohol, gambling and/or adult entertainment. These exclusions are either based on particular sector classifications or based on the percentage of company revenues derived from particular activities.

スクリーニング実行者

説明

Our Sustainable Equities strategies are primarily positive screening strategies that seek to invest in companies with  attractive  valuation and a strong sustainability profile. As equity investors, we look for companies that we believe can generate shareholder value, in part by approaching environmental, social and governance issues as drivers of competitive advantage, rather than treating sustainability merely as a box-checking exercise.

04.2. スクリーニング基準の設定方法、基準の見直し頻度、基準の変更を顧客や受益者に通知する方法について説明してください。

We use an external advisor to identify companies involved in the production, sale or distribution of cluster munitions and anti-personnel mines. The firm's Sanctions Compliance Committee issues a list of affected companies based on information provided by the external advisor. The list is updated periodically. Changes are implemented by the responsible Portfolio Managers and Trading. Portfolios undergo regular post-trade compliance checks.


LEI 05. Processes to ensure screening is based on robust analysis

05.1. スクリーニングが徹底した分析に基づいていることを確実にするために、組織が使用しているプロセスを選択してください。

05.2. ESGスクリーニング戦略の一環で包括的なESG調査の対象となるアクティブ上場株式ポートフォリオの割合を示してください。

05.3. 第三者のESG評価がスクリーニング目的で更新される頻度を示してください。

05.4. 組織のESGスクリーニングを構築するための組織内リサーチを精査する頻度を示してください。

05.5. 補足情報 [任意]


LEI 06. Processes to ensure fund criteria are not breached (Private)


B) 実施:テーマ

LEI 07. Types of sustainability thematic funds/mandates

07.1. 組織が運用している、サステナビリティをテーマとするファンドやマンデートの種類を記載してください。

07.2. 組織でのサステナビリティをテーマとしたファンドのプロセスについて説明してください。 [任意]

Our dedicated Sustainable Equities team manages a range of strategies that integrate material sustainability factors with a rigorous fundamental investment process. We actively look for companies that appear attractively valued and can benefit from secular themes, such as energy and water conservation, health care, demographics and other long-term trends.

The Sustainable Equities team manages the Long-Term Themes Fund, a strategy launched in 2016 in partnership with UBS WM. Population growth, urbanization and an ageing society are global and inexorable trends that continue to reshape society and the economy. Given the persistence of these trends, the Chief Investment Officer of UBS WM has identified 19 enduring long term investment themes connected to the mega trends such as water scarcity and oncology. The UBS Long Term Themes Equity Fund invests in companies that have solutions to the challenges these trends represent to our societies.

The Sustainable Equities team is working with scientists from the City University of New York and Harvard University to develop methodologies to measure the impact of public companies on society and the environment on four selected themes: climate, water, food security & health. These themes touch on multiple UN SDGs, e.g. clean water and sanitation, clean energy, health and well-being, climate action and life on land. These models rely on publicly available data from companies, regulators and scientific publications along with UBS AM analytical resources. Partnering with academics is core to UBS Asset Management's philosophy to identify robust, credible and user-friendly impact metrics. Our research partnership also includes a key pension fund client. We are leveraging this research for the stock selection and management of the Global Impact Equity Strategy, launched in October 2017.


C) 実施: 統合

LEI 08. Review ESG issues while researching companies/sectors

08.1. 投資分析の一部として体系的に調査するESG要因と、この分析の影響を受けるアクティブ戦略の上場株式ポートフォリオの割合を記載してください。

ESG問題

影響を受ける割合
Environmental

E(環境)

Social

S(社会)

Corporate Governance

コーポレートガバナンス

08.2. 補足情報 [任意]

The UBS Factor Model includes 81 sustainability factors across 24 MSCI GICS industries. The architectural framework for our database parallels the SASB Materiality Map ™, with customised KPIs for different industries.

In 2017, we incorporated the ESG score in our equity research library platform and developed new tools to flag ESG research and track engagement. These tags are monitored on an on-going basis by the Sustainable and Impact Investing Research team and, where needed, the team provides support to the equity analysts on ESG risks and opportunities for individual company cases or across an entire sector. This feedback loop allows for a comprehensive assessment of companies.


LEI 09. Processes to ensure integration is based on robust analysis (Private)


LEI 10. Aspects of analysis ESG information is integrated into (Private)


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