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Troy Asset Management Limited

PRI reporting framework 2020

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

The Trojan Ethical Income Fund and Trojan Ethical Fund screen equities on the basis of a set of ethical investment criteria.  Following a refinement of the criteria in July 2017 the exclusions are based on the percentage of revenue exposures to certain activities and products.  In select cases in relation to particular munitions, exclusions are made in relation to breaches of certain conventions.  VigeoEiris support this screening process.

Screened by

          Conventions relating to cluster munitions and anti-personnel mines.
        

Description

Two convention watch screens on cluster munitions and anti-personnel mines are used to support the armaments criteria.

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

The Trojan Ethical Income Fund's ethical investment criteria were established as a result of consultation with the fund’s seed investor and other potential investors prior to launch.  The ethical criteria have been reviewed and adjusted twice since launch in January 2016.  It is anticipated that they will be reviewed on an ad hoc basis in future.  However we do not anticipate further material change due to the public nature of the fund and the diverse investor base.  Any changes made to the criteria will be notified to investors in accordance with the relevant regulatory requirements.


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]

Troy's screening process is supported by VigeoEiris who provide information on a percentage of revenue basis that is updated at least annually.  In the rare instances that VigeoEiris cannot cover certain stocks our own internal assessment of the breakdown of revenues in conducted and this research is normally updated bi-annually but in some cases this can be annually.


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


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