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J.P. Morgan Asset Management

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


We apply negative screening in two ways:

1) Client mandated - where requested by Clients, assets are typically screened due to specific activities (e.g, alcohol, tobacco, gambling or weapons manufacturing).  Country-specific screening is only generally conducted in relation to government sanctions.

2) Product specific – one key pillar for our Sustainable strategies focuses on negative screening.  These consider the Febelfin principles and screen out for certain industriesThe strategies that come under these are the GEM, European and Global sustainable strategies.

Positive best in class screening

We have 4 sustainable equity funds (Intrepid, Europe, Global and GEM sustainable equity), which we categorise as having a best-in-class approach.  These strategies go beyond the negative screening criteria and look to invest in companies that are best in class in their respective industries.  We look to identify these using tools developed by the respective teams.  Core in the identification of businesses that meet this criteria is the engagement undertaken by the teams with corporates.

Norms based screening

We subscribe to an alert service for norms-based violations from a specialist provider (ISSEthix).  Our sustainable strategies mentioned above use this to exclude companies from their respective investment universe where the registration statement for the product specifies.

Screened by


We have five Sustainable Equity Funds currently (Intrepid Sustainable Equity, European Sustainable Equity, Global Sustainable Equity and, most recently Europe Sustainable Small Cap and Emerging Markets Sustainable), which we categorise as having a best-in-class approach.

Screened by


We subscribe to an alerts service for norms-based violations from a specialist provider (ISS Ethix). These flag alleged and proven violations of UNGC Principles.

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

We prohibit investment in controversial weapons in all of our funds marketed in Europe. In addition, exclusions applicable to individual strategies are restricted on our trading systems for all in-scope portfolios, and reviewed on a regular basis.

Any change in screening criteria would be applied in the same as any other change in process for our strategies and would be notified in a timely manner to clients.

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.

          ESG teams, Analysts and Portfolio managers can apply judgemental overrides to external research, or correct material inaccuracies

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]

Our ESG views about companies are part of the foundation of our research process. We have multiple tools to assess any companies’ ESG credentials which includes external providers’ data  .

However, the vast majority of our views about companies’ ESG credential comes from proprietary research and primary engagement carried out by the respective investment teams. We endeavor to meet companies that we invest in at least annually and in most instances many more times than this. We have internally developed tools, which differ between investment teams, to assess the ESG credentials of any business. We have developed a 40 question ESG checklist which has been now rolled out across the majority of our equity desks. These are updated at least annually, or whenever a material change takes place. In addition to this, analysts and portfolio managers will look to identify the material ESG issues for companies and will engage with the companies on these issues. These engagement are continuous throughout the year, and can be multi-year


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