ESG considerations are integrated throughout our investment selection process as part of the fundamental analysis we conduct on all potential investments, including fixed income investments. We believe that sound business practices, including strong corporate governance and responsible management of material environmental and social issues deliver stronger financial performance over time. Conversely, poor environmental, social or corporate governance practices present risks and controversies that may hinder financial performance. Across asset classes, our industry experts investigate ESG risks and opportunities through our in-house research process, which is complemented by independent third-party research. Conclusions are integrated into the investment decision-making process.