Public HTML RI reports - PRI reporting framework 2019

Category	Proportion of assets
Corporate (financial)	>50% 26-50% 5-25% More than 0%, less than 5% 14.2. Indicate your motivations for conducting engagement (Corporate, Financial fixed income assets) To gain an understanding of ESG strategy and/or management To encourage improved/increased ESG disclosure To influence issuer practice (or identify the need to influence) on ESG issue
Corporate (non-financial)	>50% 26-50% 5-25% More than 0%, less than 5% 14.2. Indicate your motivations for conducting engagement (Corporate, non-financial fixed income assets) To gain an understanding of ESG strategy and/or management To encourage improved/increased ESG disclosure To influence issuer practice (or identify the need to influence) on ESG issue

14.3. Additional information.[OPTIONAL]

We do not really differentiate between equity and fixed income investments in our engagement strategy. The engagement strategy described in the active ownership section applies to our equity and fixed income holdings. However, the way we identify engagement targets is slightly more tilted towards equity (through the % shareholding criterion), which also mirrors our asset class breakdown. Note however that there are many companies for which we are equity and debt holders at the same time.

FI 15. Engagement method

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

15.1. Indicate how you typically engage with issuers as a fixed income investor, or as both a fixed income and listed equity investor. (Please do not include engagements where you are both a bondholder and shareholder but engage as a listed equity investor only.)

Select all that apply

Type of engagement	Corporate (financial)	Corporate (non-financial)
Individual/Internal staff engagements
Collaborative engagements
Service provider engagements

15.2. Indicate how your organisation prioritises engagements with issuers.

Select all that apply

	Corporate (financial)	Corporate (non-financial)
Size of holdings
Credit quality of the issuer
Duration of holdings
Quality of transparency on ESG
Specific markets and/or sectors
Specific ESG themes
Issuers in the lowest ranks of ESG benchmarks
Issuers in the highest ranks of ESG benchmarks
Specific issues considered priorities for the investor based on input from clients and beneficiaries
Other

15.3. Indicate when your organisation conducts engagements with issuers.

Select all that apply

	Corporate (financial)	Corporate (non-financial)
We engage pre-investment.
We engage post-investment.
We engage proactively in anticipation of specific ESG risks and/or opportunities.
We engage in reaction to ESG issues that have already affected the issuer.
We engage prior to ESG-related divestments.
Other, describe

15.4. Indicate what your organisation conducts engagements with issuers on.

Select all that apply

	Corporate (financial)	Corporate (non-financial)
We engage on ESG risks and opportunities affecting a specific bond issuer or its issuer.
We engage on ESG risks and opportunities affecting the entire industry or region that the issuer belongs to.
We engage on specific ESG themes across issuers and industries (e.g., human rights).
Other, describe

15.5. Indicate how your organisation ensures that information and insights collected through engagement can feed into the investment decision-making process.

Select all that apply

	Corporate (financial)	Corporate (non-financial)
Ensuring regular cross-team meetings and presentations.
Sharing engagement data across platforms that is accessible to ESG and investment teams.
Encouraging ESG and investment teams to join engagement meetings and roadshows.
Delegating some engagement dialogue to portfolio managers/credit analysts.
Involving portfolio managers when defining an engagement programme and developing engagement decisions.
Establishing mechanisms to rebalance portfolio holdings based on levels of interaction and outcomes of engagements.
Considering active ownership as a mechanism to assess potential future investments.
Other, describe
We do not ensure that information and insights collected through engagement can feed into the investment decision-making process.

15.6. Additional information.[OPTIONAL]

FI 16. Engagement policy disclosure

16.1. Indicate if your publicly available policy documents explicitly refer to fixed income engagement separately from engagements in relation to other asset classes.

Yes

16.3. Additional information [OPTIONAL]

We conduct engagement related to equity and fixed income investments in the same manner. We will report in the same way.

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DNCA Finance

PRI reporting framework 2019

Fixed income - Engagement

FI 14. Engagement overview and coverage

14.1. Indicate the proportion of your fixed income assets on which you engage. Please exclude any engagements carried out solely in your capacity as a shareholder.

14.2. Indicate your motivations for conducting engagement (Corporate, Financial fixed income assets)

14.2. Indicate your motivations for conducting engagement (Corporate, non-financial fixed income assets)

14.3. Additional information.[OPTIONAL]

FI 15. Engagement method

15.1. Indicate how you typically engage with issuers as a fixed income investor, or as both a fixed income and listed equity investor. (Please do not include engagements where you are both a bondholder and shareholder but engage as a listed equity investor only.)

15.2. Indicate how your organisation prioritises engagements with issuers.

15.3. Indicate when your organisation conducts engagements with issuers.

15.4. Indicate what your organisation conducts engagements with issuers on.

15.5. Indicate how your organisation ensures that information and insights collected through engagement can feed into the investment decision-making process.

15.6. Additional information.[OPTIONAL]

FI 16. Engagement policy disclosure

16.1. Indicate if your publicly available policy documents explicitly refer to fixed income engagement separately from engagements in relation to other asset classes.

16.3. Additional information [OPTIONAL]