Our company, public policy and best practice engagement programmes aim to enhance and protect the value of the investments of our clients and safeguard their reputation. We measure and monitor progress on all engagements, setting clear objectives and specific milestones for our most intensive engagements.
We do not quantitatively track individual versus collaborative engagements, although we have a system in place whereby we record when an engagement has been undertaken jointly and have qualitative notes around this. We have engaged with 470 companies within our listed investment portfolios and of those, we engaged some individually, others collaboratively and sometimes both. Unfortunately, we're unable to reflect this split above accurately hence, we have split the companies engaged in half.
Collaborative engagement is difficult to separate from individual engagement, as while most engagements include some form of collaboration, the level of collaboration differs significantly between engagements. In some cases, joint letters are sent, in some joint meetings are held, and in others there is simply discussion with other investors.
We regularly review the engagement coverage of our funds in order to ensure that resources are directed towards those companies in the portfolios where there may be the most significant ESG risks and where most value is at risk. More broadly, while the above figures describe those engagements with which we were pursuing specified objectives, our portfolio managers will typically meet with most, if not all, of their holdings during the course of the year during which ESG issues are routinely discussed alongside strategic and financial matters.