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Resolution Capital Limited

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

We seek to avoid investing in companies with poor governance and this manifests in our avoidance of externally advised structure where management teams are often incentivised to grow assets for higher fee revenues rather than improved returns for shareholders.

Screened by

Description

Our portfolio is heavily skewed towards companies with strong ESG credentials. 

For example, our concentrated portfolio owns the top 4 companies in GRESB's latest survey (FTSE Developed Index constituents only). 

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

RCL's investment philosophy has not changed. ESG considerations are an integral part of RCL’s investment philosophy. Our process is focuses on identifying and exploiting companies which have the following three key attributes:

  • High barrier property markets where landlords have the best potential for long term pricing power;
  • Strong balance sheets which can successfully withstand and exploit market cycles; and
  • Management teams with skill, discipline and alignment.

We don’t invest in companies with poor governance, unless that’s the only way to get exposure to the underlying real estate sector. Our portfolio heavily skewed towards companies with strong ESG credentials. 

Our quarterly commentary indicates changes in the portfolio, as well as the rationale for such moves. We identify and report adverse changes in corporate governance – both in structure and in policy – when they occur.

We also maintain current versions of our RI policy on our website.


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]

GRESB data is released once a year. 

We update in-house ESG data on a continued basis.


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


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