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Avenir Capital (Delisted)

PRI reporting framework 2020

You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities » Implementation processes


LEI 01. Percentage of each incorporation strategy

01.1. 以下を記載してください。(1)組織でのアクティブ運用上場株式にどのESG組み入れ戦略や組み合わせを使用しているか(2)アクティブ運用している上場株式の戦略または戦略の組み合わせ別内訳

ESG組み入れ戦略 (当てはまるものをすべてお選びください)
アクティブ運用される上場株式に戦略が適用される割合 (推定 +/- 5%)
100 %
アクティブ運用している上場株式の合計 100%

01.2. 組織が実施しているESG組み入れアプローチ、および、特定のESG組み入れ戦略を選択している場合はその理由を説明してください。

Avenir became a signatory to the UN Principles of Responsible Investment (PRI) in 2017 and has adopted an Environmental, Social and Governance (ESG) policy. Avenir recognises that ESG issues have the potential to impact investment risks and returns and that considering these issues alongside traditional factors in investment decision making can improve long term risk-adjusted returns.

Avenir follows a long-term and concentrated investment strategy which increases the impact that ESG issues are likely to have on a company’s underlying value, both positive and negative. Consequently, Avenir believes that ESG considerations are integral to the investment process to effectively manage investments for the long-term and deliver superior long-term investment results for our clients. ESG factors are explicitly considered and assessed as part of the Avenir investment decision-making process.

In addition to ESG issues forming a core component of Avenir’s investment process, Avenir is also able to draw on a dedicated ESG Specialist within the Fidante Partners business. Fidante’s ESG Specialist provides Avenir with access to knowledge and expertise in ESG integration and active ownership practices.  As ESG integration continues to evolve, access to this specialist knowledge enables the Avenir investment team to continuously strive towards best-practice. 

Avenir recognises that ESG issues are not necessarily static and are likely to change over time and maintains a log of ESG issues for companies in the portfolio, adverse change in which can result in removal from the portfolio. The team member assigned to the portfolio company closely monitors ESG issues that arise via weekly alerts that scrape web pages, company filings, newspaper articles or blogs relative to that company. Issues that have the potential to affect the investment thesis are captured and rated by materiality in a database (‘Avenir ESG Log’). 

Material issues are discussed with the team, and, if deemed sufficiently important, raised with the company directly and this engagement is documented in the ‘Avenir ESG Log’ and ISS Engagement module. ESG issues are discussed at least quarterly alongside the portfolio companies' quarterly results to determine to what degree they may affect the investment thesis and what action, if any, Avenir should take.

01.3. ESG組み入れ戦略の組み合わせを使用して資産を運用している場合、ESG戦略の組み合わせをどのように使用しているかを簡単に説明してください。 [任意]

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) 実施: 統合

LEI 08. Review ESG issues while researching companies/sectors

08.1. E・S・Gの各要因が投資分析の一環として体系的に調査されている、アクティブ運用の上場株式ポートフォリオの割合を記載してください。








08.2. 補足情報 [任意]

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

09.1. ESG統合が徹底した分析に基づいていることを確実にするために、組織が使用しているプロセスを記載してください。

09.2. 組織の統合戦略の一環で包括的ESG調査の対象になるアクティブ運用上場株式の割合を記載してください。

09.5. ポートフォリオ・マネージャーがどのようにしてESG情報を保有し、使っているのか説明してください。

          Avenir maintains a database of ESG issues relevant to each portfolio company in the Avenir ESG Log.

09.6. 補足情報 [任意]

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