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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) 実施:スクリーニング

LEI 04. Types of screening applied

04.1. 組織内でアクティブ運用している上場株式に適用するスクリーニングの種類を記載し、説明してください。




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.


          Conventions relating to cluster munitions and anti-personnel mines.


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

04.2. スクリーニング基準が変更された場合に顧客や受益者に通知する方法について説明してください。

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. スクリーニングが徹底した分析に基づいていることを確実にするために、組織が使用しているプロセスを選択してください。

05.2. ESGスクリーニング戦略の一環で包括的なESG調査の対象となるアクティブ上場株式ポートフォリオの割合を示してください。

05.3. 第三者のESG評価がスクリーニング目的で更新される頻度を示してください。

05.4. 組織のESGスクリーニングを構築するための組織内リサーチを精査する頻度を示してください。

05.5. 補足情報 [任意]

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)