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Royce & Associates, LP

PRI reporting framework 2020

You are in Strategy and Governance » Investment policy

Investment policy

SG 01. RI policy and coverage

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.3. Indicate if the investment policy covers any of the following

01.4. Describe your organisation’s investment principles and overall investment strategy, interpretation of fiduciary (or equivalent) duties,and how they consider ESG factors and real economy impact.

At Royce, our ultimate goal in all of our activities is to deliver the best investment outcomes for our clients. As fiduciaries of our client’s assets, we have always had exacting standards around principles of governance and sustainability in the evaluation of the companies in which we invest as they have proven to have a material impact on business risk and corporate performance. Importantly, evaluating and incorporating ESG factors in investment analysis offers crucial insights into the opportunities and risks for long term, fundamental investors such as us and inherently provides for better informed decision making.

01.5. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]

 Historically ESG integration has been focused on exclusionary or negative screening, which aims to avoid securities based on ESG criteria. We believe a better way to invest is to take a holistic view that seeks to fully integrate ESG factors into the investment research process. We do not look to exclude companies or sectors from our universe, but rather aim to analyze and monitor the ESG issues that may have material impact on the financial performance of our portfolio companies in the near and long term. By identifying and incorporating relevant ESG factors into our research process, we can potentially minimize the impact of negative ESG related developments and uncover investment opportunities that may benefit from ESG related trends.

01.6. Additional information [Optional].


SG 01 CC. Climate risk (Private)

SG 02. Publicly available RI policy or guidance documents


02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.


02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.




02.3. Additional information [Optional].

Our organization's respnsible investment policy can be found at:

Our commitment to responible investment and a description of our approach to ESG integration can be found here:

SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

We have several policies and procedures that govern different types of conflicts of interest in the investment process. For example, our Conflicts of Interest policy with regards to Proxy Voting is available as part of our Proxy Voting Guidelines and can be found at the following URL:

03.3. Additional information. [Optional]

SG 04. Identifying incidents occurring within portfolios (Private)