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Westfield Capital Management

PRI reporting framework 2020

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

アクティブ運用している上場株式におけるESGの組み入れ

実施プロセス

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%)
99.98 %
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%)
0.02 %
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。

Westfield’s integration of ESG factors into the investment approach in our traditional Investment Committee managed growth equity strategies is focused on the materiality and relevancy of various ESG factors to each sector and specific company, and how they may affect valuation, risk and the confidence of the investment thesis. This integration only approach relies upon the deep industry expertise of our sector-focused analysts, coupled with the ESG focus of the Director of ESG Research, to identify and incorporate material ESG factors into our fundamental analysis. Relevant and material ESG issues are identified through management dialogue, the collection and analysis of third party ESG data, and frameworks such as SASB’s (Sustainability Accounting Standards Board) Materiality Maps. A focus on quality management has always been core to Westfield’s investment process and we believe that analyzing material ESG factors, whether they are associated with the end markets served or a company’s operating activities, can provide additional insight into management quality.

 

ESG incorporation goes one step further in Westfield's Sustainable Growth Equity strategy managed by our Director of ESG Research.  Within this strategy, best-in-class positive screening and thematic ESG integration are also utilized in the construction of client portfolios.

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]

Within the Sustainable Growth Equity strategy, the Director of ESG Research takes a multi-faceted approach to ESG integration in the management of client portfolios by overlaying ESG analysis on fundamental analysis to create a concentrated portfolio of companies that embed sustainability into their business strategy.  ESG incorporation within the strategy falls into three investment categories:

  • Companies that provide products or services that directly target sustainability driven end markets
  • Companies that provide products or services that have derivative sustainability benefits
  • Companies that are best-in-class in ESG operating performance

 

 


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)


A) 実施:スクリーニング

LEI 04. Types of screening applied

04.1. 組織内でアクティブ運用している上場株式に適用するスクリーニングの種類を記載し、説明してください。

スクリーニングの種類

スクリーニング実行者

説明

The Director of ESG Research utilizes the following external resources to support his ESG research efforts:

  • Bloomberg ESG data – rankings and ratings for various ESG factors
  • Responsible Investor – online ESG and sustainable finance resource

04.2. スクリーニング基準が変更された場合に顧客や受益者に通知する方法について説明してください。

Screening is used as an additional data point in the investment decision making process.  Westfield does not mandate general rankings or scores on any financial factors for our current or prospective portfolio holdings as we rely on our seasoned investment professionals to conduct fundamental research within their respective areas of expertise. Similarly, the Director of ESG Research does not seek to invest in companies that simply reach a certain ESG score as defined by a third party service provider; rather, he often meets with a company’s Chief Sustainability Officer (CSO), or other members of the company management, to determine how they are embedding ESG efforts into their business strategy.  Westfield’s ESG research does not stop at figuring out why a company is incorporating ESG factors into their business model; rather, we take the next step by asking questions about and focusing on the economic impacts of sustainability initiatives and how these issues will impact the company’s growth prospects and bottom line.


LEI 05. Processes to ensure screening is based on robust analysis

05.1. スクリーニング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選択してください。

05.2. ESGスクリーニング戦略の一環で包括的なESG調査の対象となるアクティブ上場株式ポートフォリオの割合を示してください。

05.3. 第三者のESG評価がスクリーニング目的で更新される頻度を示してください。

05.5. 補足情報 [任意]


LEI 06. Processes to ensure fund criteria are not breached (Private)


B) 実施:テーマ

LEI 07. Types of sustainability thematic funds/mandates

07.1. 組織が運用している、サステナビリティをテーマとするファンドやマンデートの種類を記載してください。

07.2. 組織でのサステナビリティをテーマとしたファンドのプロセスについて説明してください。 [任意]

Westfield's sustainability themed fund is the Sustainable Growth Equity strategy.  This strategy is managed by the Director of ESG Research who leverages the in-depth, fundamental research of Westfield's sector analysts in the management of client portfolios.  The strategy takes a multi-faceted approach to ESG integration by overlaying ESG analysis on fundamental analysis to create a concentrated portfolio of companies that embed sustainability into their business strategy.  ESG incorporation within the strategy falls into three investment categories:

  • Companies that provide products or services that directly target sustainability driven end markets
  • Companies that provide products or services that have derivative sustainability benefits
  • Companies that are best-in-class in ESG operating performance

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。

ESG問題

影響を受ける割合
E(環境)

E(環境)

S(社会)

S(社会)

コーポレートガバナンス

コーポレートガバナンス

08.2. 補足情報 [任意]

Westfield’s review of ESG issues in the investment research process is focused on the materiality and relevancy of these ESG issues to each sector and specific company, and how they may affect valuation, risk and the confidence of the investment thesis. We rely upon the deep industry expertise of our sector-focused analysts, coupled with the ESG focus of the Director of ESG Research, to identify and evaluate material ESG issues during our fundamental analysis. Relevant and material ESG issues are identified through management dialogue, the collection and analysis of third party ESG data, and frameworks such as SASB’s (Sustainability Accounting Standards Board) Materiality Maps. A focus on quality management has always been core to Westfield’s investment process and we put particular emphasis on the systematic review and understanding of all material corporate governance concerns.


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。

09.6. 補足情報 [任意]


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


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