We are convinced that high-quality companies with the best corporate citizenship will be the most profitable over the long term. Therefore, we fully integrate extra-financial factors (including environmental, social and governance) into our financial framework and seek to create value by engaging directly with companies to encourage long-termism, strong corporate governance and sustainability leadership. Our view is that engagement is particularly effective if undertaken over the long term and with a deep understanding of the company. We therefore invest and engage with a ten-year investment horizon in a portfolio of only 20-25 companies. This focused approach allows us to gain a deeper understanding of investee companies and engage with management teams. We help investors meet their responsibility to act in the long-term interests of their beneficiaries and invest across generations by engaging with the companies they own to enhance their long-term success. Our pension fund heritage means we understand the unique challenges facing asset owners with long-term liabilities and our track record demonstrates that we have a history of delivering consistent performance to meet and exceed those obligations.