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Nomura Corporate Research and Asset Management Inc.

PRI reporting framework 2019

You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income » Implementation processes

実施プロセス

FI 01. Incorporation strategies applied

以下を記載してください。 (1)組織でアクティブ運用する債券投資について、どのESG組み入れ戦略や組み合わせを使用しているか(2)各戦略が適用されるアクティブ運用債券投資合計の割合(+/- 5%)
社債(非金融)
0 スクリーニングのみ
0 テーマのみ
100 統合のみ
0 スクリーニング + 統合戦略
0 テーマ + 統合戦略
0 スクリーニング + テーマ戦略
0 3つの戦略すべての組み合わせ
0 組み入れ戦略を適用していない
100%

01.2. 特定のESG組み入れ戦略を選択している理由と、使用する戦略の組み合わせを説明してください。

NCRAM believes that consideration of sustainability is congruent with our Strong Horse investment philosophy. ESG analysis helps us to invest in stronger companies, identify improving credits, and avoid defaults.

 

We consider ESG issues to be important factors when analyzing a company’s sustainability and investment prospects, and the study of these issues is incorporated into our investment process. We will consider a company’s record in how they treat the environment, how they treat their employees, how they treat the communities in which they operate, and their impact on their customers. We consider climate change and carbon emissions as part of our environmental risk analysis, and we incorporate a company’s environmental record into our assessment of the issuer. In addition, we will consider their track record in behaving fairly towards bondholders and other investors. To augment our internal research, NCRAM has engaged Sustainalytics to provide external research on ESG factors. NCRAM also has frequent meetings and dialogue with debt issuers, and our analysts and portfolio managers will discuss ESG factors with issuers at those forums.

 

We are committed to continuing to work with our clients and within the broader investment management industry to invest responsibly in our existing portfolios and going forward.

01.3. 補足情報 [任意]


FI 02. ESG issues and issuer research

02.1. 発行体に対する分析の一部として体系的に調査するESG要因を明示してください。

社債(非金融)
環境データ
社会的データ
ガバナンスデータ

02.2. 入ってくるESG情報のフォーマットと主な情報源を明示してください。

この情報の提供者を説明してください
この情報の提供者を説明してください
この情報の提供者を説明してください
この情報の提供者を説明してください

02.3. 使用されているESG情報を簡単に説明してください。ESG組み入れ戦略全体における情報源の違いを明らかにしてください。

NCRAM’s dedicated high yield analysts perform the vast majority of the research utilized in the management of high yield portfolios. Analysis of ESG factors is based on both direct communication with the issuer as well as secondary sources. NCRAM has also engaged Sustainalytics to provide external research on ESG factors.  NCRAM analysts will synthesize this information and include a summary of an issuer’s strengths and risks with regard to ESG factors in new-issue or other introductory credit reports. Credit reviews also include an analysis of ESG factors. Analysts and portfolio managers consider those factors in their credit analysis and assess whether the strengths and risks are priced into market yields and spreads. Existing positions are continually monitored by the research analyst and also are formally reviewed during periodic portfolio reviews among the portfolio manager, CIO and credit analyst.

02.4. 補足情報 [任意]


FI 03. Processes to ensure analysis is robust

03.1. 組織のESG調査プロセスの堅牢性を確保する方法を記載してください。

03.2. ESG情報または分析を投資チーム内で共有する方法を記載してください。

03.3. 補足情報 [任意]


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