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JK Capital Management Limited

PRI reporting framework 2020

You are in Strategy and Governance » Investment policy

投資ポリシー

SG 01. RI policy and coverage

この指標には新しい設問が追加されています。事前に入力されている回答を精査してください。

01.1. 責任投資アプローチをカバーする投資ポリシーを策定しているかどうかを明示してください。

01.2. ポリシーの構成要素/種類と対象範囲を示してください。

当てはまるものをすべて選択してください。
ポリシーの構成要素/種類
AUMの対象範囲

01.3. 投資ポリシーが以下のどの項目をカバーしているか明示して下さい:

01.4. 組織の投資原則および全体の投資戦略、受託者義務(または同等のもの)の解釈、ならびに、ESGファクターおよび実体経済の影響をどのように考慮に入れているかについて説明してください。

The firms’ management style is based on convictions and completely benchmark agnostic. Portfolios are constructed following a disciplined bottom-up process that combines:

  • Quantitative filters
  • Qualitative analysis
  • On site due diligence
  • Regular contact with companies
  • Careful attention to corporate governance.

JKC’s expertise relies on its extensive track record and its constant engagement on the ground with the companies it covers (the team of 8 investment professionals have over 700 company meetings every year).

We are following a rigorous Due Diligence process through on-site visits, a careful attention paid to corporate governance, numerous channel checks combined with a bottom-up process combining quantitative filters and qualitative analysis. Quality of Corporate Governance has always been the bedrock of JK Capital’s investment approach. We have increasingly incorporated an E and S consideration to claim a full ESG integration.

By being signatories of Board Diversity Hong Kong Initiative, our aim is to build a constructive relationship with company Boards and Management to foster a greater awareness and acceptance of the business value of diversity

01.5. 責任投資アプローチをカバーする組織の投資ポリシーの重要な構成要素、バリエーション、例外事項を簡潔に説明してください。[任意]

JKC’s investment policy revolves around fundamental bottom up stock picking based on strict due diligence criteria among which key elements of corporate governance dominate, including but not limited to corporate transparency, a high level of disclosure in the financial statements, easy access to management, to employees, to offices and factories, long term sustainability of the business model, a strong emphasis on social governance including increasing usage of renewable and/or clean energy and of water treatment facilities and efforts to achieve board diversity.

Our Responsible investment approach is also determined by the following principles:

Materiality impact : ESG does not follow the principle of “one size fits all”. We believe at JK Capital that it is not relevant to look at the same indicators to assess all companies’ sustainable performance. We use an adaptive framework to drive our ESG research. We use the SASB Materiality tool and we adapt it to Asia’s specificities to base our Materiality assessment.

Markets specificities : JKCM covers 15 markets across Asia. The ESG standards and approaches can differ from one country and one regulator to another. Indeed we cannot avoid the fact that requirements from regulators and stock exchanges across Asia differ in terms of ESG disclosure. Therefore, having a specific understanding of the ESG framework of each country JK Capital invests in is a key element to develop relevant analysis that will be different from one invested company to another. Hence, both local regulations and local market practices have to be taken into account when analysing company’s disclosure and when performing on-site visits.

Negative screening : JK Capital Management applies exclusion filters to its equity investment universe. Such filters include controversial weapons, thermal coal production and tobacco.

01.6. 補足情報 [任意]

          
        

SG 01 CC. Climate risk (Private)


SG 02. Publicly available RI policy or guidance documents

この指標には新しい設問が追加されています。事前に入力されている回答を精査してください。

02.1. 一般に入手できる組織の投資ポリシー文書を記載してください。その文書のURLを記入し、該当文書を添付してください。

URL/添付ファイル

URL/添付ファイル

URL/添付ファイル

URL/添付ファイル

02.2. 一般に入手できる組織の投資ポリシー文書を記載してください。その文書のURLを記入し、該当文書を添付してください。

URL/添付ファイル

URL/添付ファイル

URL/添付ファイル

02.3. 補足情報 [任意]


SG 03. Conflicts of interest

03.1. 組織として、投資プロセスにおける潜在的な利益相反を管理するポリシーを策定しているかどうかについて明示して下さい。

03.2. 投資プロセスにおける潜在的な利益相反を管理するポリシーについて説明してください。

The following methods of dealing with conflicts of interest and controlling access to confidential information are acceptable:

 

  1. General or implied disclosure in a customer document or agreement that JK Capital may have a material interest or a conflict in a transaction;
  2. Specific disclosure of an interest or conflict to a customer either in writing or orally before JK Capital advises or exercises discretion on behalf of that customer. This will usually be necessary in highly sensitive transactions. JK Capital must be able to demonstrate that it has taken reasonable steps to ensure the customer does not object (as opposed to merely notifying him) to that interest or conflict. In consequence, a written acknowledgement should be obtained from the customer as far as possible; or
  3. Declining to act.

03.3. 補足情報 [任意]


SG 04. Identifying incidents occurring within portfolios (Private)


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