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Smith & Williamson Investment Management LLP

PRI reporting framework 2020

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ESG incorporation in actively managed listed equities

Implementation processes

LEI 01. Percentage of each incorporation strategy

01.1. Indicate which ESG incorporation strategy and/or combination of strategies you apply to your actively managed listed equities; and the breakdown of your actively managed listed equities by strategy or combination of strategies.

ESG incorporation strategy (select all that apply)

Percentage of active listed equity to which the strategy is applied — you may estimate +/- 5%
100 %
Total actively managed listed equities 100%

01.2. Describe your organisation’s approach to ESG incorporation and the reasons for choosing the particular strategy/strategies.

As a bespoke service, we are unable to introduce ESG specific objectives in our portfolios unless requested by the client. However, this does not prevent us from integrating ESG factors into our usual fundamental investment analysis and monitoring ESG risks. We are long term fundamentally driven investors, understanding the ESG factors affecting each company is a part of the process of evaluation of the likely future success of each investment we make. We use a major outside screening service to provide ESG data and insights as a starting point.

The Responsible Investment Policy is set by the Corporate Responsibility and Charities Committee (CRCC) which reports directly to the main Board. Oversight of the policy is the responsibility of the Investment Process Committee. Implementation is the responsibility of the Stewardship and Responsible Investment Group (SRIG).

Though our external screening provider, investment analysts and sector specialists have access to ESG ratings and research which is incorporated into investment recommendations. ESG factors are used to help determine the long term prospects of a company. The bespoke nature of our service means that Smith & Williamson will not screen investments or engage in impact investing/thematic investing, unless directed by the client. Where equity investments are made indirectly, through third party funds, investment analysts complete regular due diligence (we are now able to screen most funds for their ESG rating through our screening provider) as part of the collective investment process. This covers fees, risk management, suitability and membership of the UN PRI and/or the UK Stewardship Code as a prerequisite.

01.3. If assets are managed using a combination of ESG incorporation strategies, briefly describe how these combinations are used. [Optional]


LEI 02. Type of ESG information used in investment decision (Private)


LEI 03. Information from engagement and/or voting used in investment decision-making (Private)


(C) Implementation: Integration of ESG factors

LEI 08. Review ESG issues while researching companies/sectors

08.1. Indicate the proportion of actively managed listed equity portfolios where E, S and G factors are systematically researched as part of your investment analysis.

ESG issues

Proportion impacted by analysis
Environmental

Environmental

Social

Social

Corporate Governance

Corporate Governance

08.2. Additional information. [Optional]


LEI 09. Processes to ensure integration is based on robust analysis

09.1. Indicate which processes your organisation uses to ensure ESG integration is based on robust analysis.

09.2. Indicate the proportion of your actively managed listed equity portfolio that is subject to comprehensive ESG research as part your integration strategy.

09.3. Indicate how frequently third party ESG ratings that inform your ESG integration strategy are updated.

09.5. Describe how ESG information is held and used by your portfolio managers.

09.6. Additional information. [Optional]


LEI 10. Aspects of analysis ESG information is integrated into (Private)


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