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RP Investment Advisors LP

PRI reporting framework 2020

You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income » (C) Implementation: Integration

(C) Implementation: Integration

FI 10. Integration overview

10.1. Describe your approach to integrating ESG into traditional financial analysis.

Considering ESG issues is an important part of our credit research and investment decision activities. It allows us to increase the scope of our research and better understand the long-term risk and sustainability profile of the companies we invest in. Integrating ESG issues into research can uncover new risks and opportunities that may not be highlighted by traditional analysis.

10.2. Describe how your ESG integration approach is adapted to each of the different types of fixed income you invest in.

Corporate (financial)

Same ESG integration approach is taken for Corporates - financial and non-financial.

Corporate (non-financial)

Same ESG integration approach is taken for Corporates - financial and non-financial.

10.3. Additional information [OPTIONAL]


FI 11. Integration - ESG information in investment processes

11.1. Indicate how ESG information is typically used as part of your investment process.

Select all that apply
Corporate (financial)
Corporate (non-financial)
ESG analysis is integrated into fundamental analysis
ESG analysis is used to adjust the internal credit assessments of issuers.
ESG analysis is used to adjust forecasted financials and future cash flow estimates.
ESG analysis impacts the ranking of an issuer relative to a chosen peer group.
An issuer`s ESG bond spreads and its relative value versus its sector peers are analysed to find out if all risks are priced in.
The impact of ESG analysis on bonds of an issuer with different durations/maturities are analysed.
Sensitivity analysis and scenario analysis are applied to valuation models to compare the difference between base-case and ESG-integrated security valuation.
ESG analysis is integrated into portfolio weighting decisions.
Companies, sectors, countries and currency and monitored for changes in ESG exposure and for breaches of risk limits.
The ESG profile of portfolios is examined for securities with high ESG risks and assessed relative to the ESG profile of a benchmark.
Other, specify in Additional Information

11.2. Additional information [OPTIONAL]


FI 12. Integration - E,S and G issues reviewed

12.1. Indicate the extent to which ESG issues are reviewed in your integration process.

Environment
Social
Governance
Corporate (financial)

Environmental

Social

Governance

Corporate (non-financial)

Environmental

Social

Governance

12.2. Please provide more detail on how you review E, S and/or G factors in your integration process.

Corporate (financial)

We conduct due diligence on ESG-related issues based on in-house analysis of company filings (e.g. financial reports, various ESG-related reports), analysis from ESG research providers (e.g. Morningstar, CDP, ISS), and sell-side research reports.
We derive an Internal ESG Score ranging from 0% to 100% based on a methodology that considers 20 factors, consisting of four factors based on analysis from ESG research providers and 16 factors we have selected that measures various environmental, social, and governance related issues. Scores are aggregated across the portfolio and benchmarked. The Portfolio Management team takes the Internal ESG Scores into consideration in investment decisions.

Corporate (non-financial)

We conduct due diligence on ESG-related issues based on in-house analysis of company filings (e.g. financial reports, various ESG-related reports), analysis from ESG research providers (e.g. Morningstar, CDP, ISS), and sell-side research reports.
We derive an Internal ESG Score ranging from 0% to 100% based on a methodology that considers 20 factors, consisting of four factors based on analysis from ESG research providers and 16 factors we have selected that measures various environmental, social, and governance related issues. Scores are aggregated across the portfolio and benchmarked. The Portfolio Management team takes the Internal ESG Scores into consideration in investment decisions.

12.3. Additional information.[OPTIONAL]


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