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Macquarie Asset Management

PRI reporting framework 2019

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You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income » (A) Implementation: Screening

(A) Implementation: Screening

FI 04. Types of screening applied

04.1. Indicate the type of screening you conduct.

Select all that apply
Corporate (financial)
Corporate (non-financial)
Negative/exclusionary screening
Positive/best-in-class screening
Norms-based screening

04.2. Describe your approach to screening for internally managed active fixed income

Screening criteria vary by investment team.  See below for examples

04.3. Additional information. [Optional]

Exclusionary screens are also used for client-specific mandates which restrict the inclusion of companies involved in identified prohibited activities.

The MIM Fixed Income research team has as an exclusionary screen for tobacco across strategies managed for Australian investors.  The team believes that screening out tobacco companies from these portfolios is an appropriate response to enhanced client interest in ethical investments. 

The MIM FI research team also emphasizes the use of corporate governance criteria as a means of identifying issuers to be excluded from their investable universe.

MIDIS investments are governed by its ESG policy which excludes certain specific sectors from investment.

FI 05. Examples of ESG factors in screening process (Private)

FI 06. Screening - ensuring criteria are met

06.1. Indicate which systems your organisation has to ensure that fund screening criteria are not breached in fixed income investments.

Type of screening
Negative/exclusionary screening?

06.2. Additional information. [Optional]

The responses provided above represent an aggregate of different practices employed by our independent investment teams and do not necessarily indicate that each team employs all of these practices.

MSCI KLD Social restricted lists are loaded into MIM’s trading system on a monthly basis.  Traders entering trades in prohibited securities will receive a notification that the bond is restricted for those specific accounts with restrictions.