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Quoniam Asset Management GmbH

PRI reporting framework 2020

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You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities » Implementation processes » (A) Implementation: Screening

(A) Implementation: Screening

LEI 04. Types of screening applied

04.1. Indicate and describe the type of screening you apply to your internally managed active listed equities.

Type of screening

Screened by

Description

For a detailed description of all screening criteria used by Quoniam, please refer to LEI 01.2. Data used to decide on (non-) compliance with these criteria is provided by established ESG data providers, as stated in LEI 02.4,

As laid out, some clients / mandates may have chosen to use their own screening methodologies or permissible investment universe definitions, in which case Quoniam applies such criteria as instructed. A Quoniam defined exclusion list of companies with activities in the production of controversial weapons, i.e. cluster munitions and anti-personnel landmines, key biological and chemical weapons components, biological and chemical weapons, incendiary weapons using white phosphorus and nuclear weapons, is applied to all mandates irrespective of client preferences.

Screened by

Description

Clients may choose to use specific positive (i.e. "white list") screening lists based on a variety of criteria. Such screens are typically provided by external service providers customers have selected independently.

Screened by

Description

Comprehensive norms-based screening is part of Quoniam's screening criteria (as described above and in LEI 01.2) and is applied when mandated by customers, e.g. in all mutual funds of the Quoniam Funds Selection (QFS) SICAV, which follow internationally accepted norms such as the UN PRI, UN Global Compact or Oslo Convention on Cluster Munitions. Data used to decide on (non-) compliance with these criteria is provided by established ESG data providers, as stated in LEI 02.4, as well as Norges Bank.

04.2. Describe how you notify clients and/or beneficiaries when changes are made to your screening criteria.

Screening criteria are reviewed, amended, put into effect and annulled by our SRI committee, considering both internal research and consultation of external research providers (see also answer LE02.4.). Screening lists are reviewed on a regular basis. We encourage clients to include information on these reviews in their customized reporting.

 


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

05.1. Indicate which processes your organisation uses to ensure ESG screening is based on robust analysis.

05.2. Indicate the proportion of your actively managed listed equity portfolio that is subject to comprehensive ESG research as part your ESG screening strategy.

05.3. Indicate how frequently third party ESG ratings are updated for screening purposes.

05.4. Indicate how frequently you review internal research that builds your ESG screens.

05.5. Additional information. [Optional]

Quoniam's systematic analysis incorporates ESG data from established SRI data providers like MSCI ESG Research, ISS/oekom, S&P Trucost as well as further capabilities from a dedicated ESG team of our mother company, Union Investment.

In a first stage, these data, which covers about 32,000 securities, 14,000 issuers, 8000 companies and 104 countries is automatically imported into our data base.

In a second stage, data quality is validated and in-house research as well as other external research (e.g. Norges Bank list) incorporated into the data.  

In a third stage, we formally incorporate responsible investment policies of our clients in the investment process, applying either positive or exclusionary lists or screening criteria based on ESG factors (in case of the Quoniam Funds Selection (QFS) SICAV this step refers to the screening criteria as part of the full incorporation strategy described in LEI 01.3). If the exclusions lists are applied to reduce the individual universe of a fund the automated investment process can only choose securities from the reduced fund's universe. Furthermore, these lists are part of the daily investment monitoring process. This includes analysis of company structures reflecting corporate actions such as mergers and acquisitions.

In the last stage, all screening lists and criteria applied in the portfolio management process also feed into an internal audit system (MIG 21). Therefore, changes to the lists will lead to passive ESG guideline breaches and trigger appropriate actions within the portfolio management.


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


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