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PM Capital

PRI reporting framework 2018

Export Public Responses

You are in Direct - Listed Equity Active Ownership » Engagement » Overview


LEA 01. Description of approach to engagement

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate whether your organisation has a formal engagement policy.

01.2. Attach or provide a URL to your engagement policy.

01.3. Indicate what your engagement policy covers:

01.4. Provide a brief overview of your organization’s approach to engagement

We believe that ESG is simply part of good business practice and we look at the regard a company's management team has for it. We incorporate ESG principles early on, with manufacturers of tobacco and weapons being screened from our investable universe.

The main areas that we cover within our research process include:

Environment - sustainability management practices and carbon emission policies

Social - this depends on the company but will include occupational health and safety standards, and labour practices

Governance - board structure, operational risk management, and directors and executive remuneration.

In the same way that there will be negative economic consequences for those businesses that cut corners around ESG issues, we also believe that there are positive economic benefits for those businesses that are proactive and progressive when it comes to ESG.

This is why we incorporate ESG issues into the valuation of businesses. These must be considered when looking at a company's risk management framework, given the impact they may have to the value of the company over time.

Not having a strong focus on ESG is, in our view, simply bad business, which leads to poor outcomes for investors.

01.6. Additional information [optional]

Please also refer to PM Capital's Responsible Investment Policy for the response to LEA01.2 in conjuction with the the Conflicts of Interest and Related-Party Policy attached to that question.

LEA 02. Reasoning for interaction on ESG issues

02.1. Indicate the method of engagement, giving reasons for the interaction.

Type of engagement

Reason for interaction

Individual/Internal staff engagements
          To support investment decision-making
Collaborative engagements
          To support investment decision-making
Service provider engagements
          To support investment decision-making

02.2. Additional information. [Optional]