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MV Credit Partners LLP

PRI reporting framework 2019

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

Implementation processes

FI 01. Incorporation strategies applied

Indicate (1) Which ESG incorporation strategy and/or combination of strategies you apply to your actively managed fixed income investments; and (2) The proportion (+/- 5%) of your total actively managed fixed income investments each strategy applies to.
Corporate (non-financial)
0 Screening alone
0 Thematic alone
0 Integration alone
100 Screening + integration strategies
0 Thematic + integration strategies
0 Screening + thematic strategies
0 All three strategies combined
0 No incorporation strategies applied

01.2. Describe your reasons for choosing a particular ESG incorporation strategy and how combinations of strategies are used.

Whilst MV Credit invests across the capital structure, most of our funds are focused on Senior (e.g. TLB, FRN) and Subordinated lending (e.g. second Lien, PIK, preferred equity). As such, our ESG strategy development has been characterised by our non-active ownership of the underlying assets we invest in.

Since inception, MV Credit has always operated with an informal and formal investment exclusion criterion. Initially the informal aspect was driven by the managers personal investment philosophy (ethical and moral exclusions); whilst the formal criteria included further specific requests from our LPs; which were formally included in our fund documentation [See more on questions FI 04.2 and SG 01.4].

Through gradually formalising our ESG practices (e.g. becoming a UN PRI signatory in 2012 – then under CapVest) we have reached a point in our development where we currently incorporate a three step ESG / RI evaluation of prospective investments. We (i) screen potential investments through a negative/exclusionary and norms-based strategy, (ii) seek further support/ validation of ESG values through a deeper Due Diligence Assessment (integration strategies), and (iii) our findings are presented and vindicated at the investment committee / Board level.

01.3. Additional information [Optional].

FI 02. ESG issues and issuer research (Private)

FI 03. Processes to ensure analysis is robust

03.1. Indicate how you ensure that your ESG research process is robust:

03.2. Describe how your ESG information or analysis is shared among your investment team.

03.3. Additional information. [Optional]