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Element Investment Managers

PRI reporting framework 2019

You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities » Implementation processes » (A) Implementation: Screening

(A) Implementation: Screening

LEI 04. Types of screening applied

04.1. Indicate and describe the type of screening you apply to your internally managed active listed equities.

Type of screening

Screened by

Description

Some of our funds are managed in accordance with Shari'ah law.  A Shari'ah Supervisory Board ("SSB") approves the portfolio, after completion of a Shari'ah compliance audit, every six months. Some share are excluded from our investable universe if the ESG risks are deemed to great.

04.2. Describe how you notify clients and/or beneficiaries when changes are made to your screening criteria.

See above.  Certain companies are excluded as a result of their nature of business (e.g. sells alcohol), but others can be excluded or included depending on the financial structure (e.g. debt level is (under)/over a certain limit). Clients are notified where portfolio universe changes are material. When we do our feedback to our clients we indicate which company/ies we have excluded due to ESG considerations.


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

05.1. Indicate which processes your organisation uses to ensure screening is based on robust analysis.

05.2. Indicate the proportion of your actively managed listed equity portfolio that is subject to comprehensive ESG research as part your ESG screening strategy.

05.3. Indicate how frequently third party ESG ratings are updated for screening purposes.

05.4. Indicate how frequently you review internal research that builds your ESG screens.

05.5. Additional information. [Optional]

Internal Shari'ah screens and research are updated every month.

The Shari'ah Supervisory Board conducts a Shari'ah compliant audit of the portfolio universe every six months.

Whenever an analyst initiates or reports on a company he/she revies the ESG status.


LEI 06. Processes to ensure fund criteria are not breached

06.1. Indicate which processes your organisation uses to ensure fund criteria are not breached.

06.2. If breaches of fund screening criteria are identified - describe the process followed to correct those breaches.

Shariah Advisory Board would require sell out of non-compliant investment over a reasonable period (usually a quarter). 

06.3. Additional information.[Optional]

External audit by independent Shariah Advisory Board every six months.


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