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Cardano Risk Management

PRI reporting framework 2020

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.
100 Screening alone
0 Thematic alone
0 Integration alone
0 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.

Cardano mainly manages matching portfolios for our pension fund clients. The main objective is to do this as safely as possible with high-quality fixed income. In addition, this is done in house on a "passive unless" basis i.e. bonds are selected that most closely reflect the liability benchmark unless there is a reason to deviate for example for liquidity or pricing purposes. A large part of the investments is via Euro, UK and US government bonds. We acknowledges the impact that ESG factors have on investment outcomes in LDI. The above implies that an ESG approach based on selection is most suitable for the available investment universe. Responsible Investing impact is expected to be relatively light compared to other balance sheet items.

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]