There are four components of Ownership Capital's approach to responsible investment that we consider to be particularly innovative. Firstly, we have a 10-year investment horizon, which helps our investment professionals focus on all parameters that could be material to the long-term success of our investments. Secondly, Ownership Capital has developed a proprietary tool (OC Govern), along with associated algorithms, that assists in company ESG analysis using 75 different factors spread across management, social, environmental, and governance issues. This data-driven tool forms a key part of our ESG analytical framework and helps clarify the engagement agendas per company. Thirdly, Ownership Capital has developed a comprehensive risk tool (OC Aggregagted Risk Map) that quantifies financial and extra-financial risks for the portfolio holdings individually, but also collectively for the portfolio. This unique risk tool enhances pro-active risk management capabilities and as a result, lowers the risk profile of the portfolio. Finally, Ownership Capital believes its emphasis on active and continuous engagement as a fundamental part of the investment process, is highly innovative and differs from many other approaches. Rather than being carried out as a separate activity detached from the rest of the investment process or by separate analysts, ESG analysis and engagement is fully integrated into the entire investment process and helps our PMs reduce risks and enhance returns.