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BT Funds Management (NZ) Limited

PRI reporting framework 2020

You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income » Implementation processes

Implementation processes

FI 01. Incorporation strategies applied

Indicate (1) Which ESG incorporation strategy and/or combination of strategies you apply to your actively managed fixed income investments; and (2) The proportion (+/- 5%) of your total actively managed fixed income investments each strategy applies to.
SSA
0 Screening alone
0 Thematic alone
0 Integration alone
100 Screening + integration strategies
0 Thematic + integration strategies
0 Screening + thematic strategies
0 All three strategies combined
0 No incorporation strategies applied
100%
Corporate (financial)
0 Screening alone
0 Thematic alone
0 Integration alone
100 Screening + integration strategies
0 Thematic + integration strategies
0 Screening + thematic strategies
0 All three strategies combined
0 No incorporation strategies applied
100%
Corporate (non-financial)
0 Screening alone
0 Thematic alone
0 Integration alone
100 Screening + integration strategies
0 Thematic + integration strategies
0 Screening + thematic strategies
0 All three strategies combined
0 No incorporation strategies applied
100%
Securitised
0 Screening alone
0 Thematic alone
0 Integration alone
100 Screening + integration strategies
0 Thematic + integration strategies
0 Screening + thematic strategies
0 All three strategies combined
0 No incorporation strategies applied
100%

01.2. Describe your reasons for choosing a particular ESG incorporation strategy and how combinations of strategies are used.

  • Screening through an exclusion list is incorporated across all direct fixed income securities (see Additional information for current exclusion list).
  • Integration is utilised for all direct fixed income issuers/securities to varying degrees. In general, smaller corporate non-rated entities are more intensely scrutinised than are larger, well known public/listed entities and registered banks. The logic being larger public/listed entities come under broader public/investor scrutiny and the latter under Reserve Bank of New Zealand supervision. However, we do acknowledge that there are from time to time exceptions which require indepth analysis.
  • In the instance of asset backed/securitised securities integration tends to focus on the issuing entity/servicer.

01.3. Additional information [Optional].

Current exclusion list (Dec 2019):

  • the manufacture of cluster munitions
  • the manufacture or testing of nuclear explosive devices (NEDs)
  • the manufacture of anti-personnel mines
  • the manufacture of tobacco   
  • processing of whale meat
  • the manufacture and sale of assault weapons to civilian customers

 


FI 02. ESG issues and issuer research

02.1. Indicate which ESG factors you systematically research as part of your analysis on issuers.

Select all that apply
SSA
Corporate (financial)
Corporate (non-financial)
Securitised
Environmental data
Social data
Governance data

02.2. Indicate what format your ESG information comes in and where you typically source it

Indicate who provides this information  

Indicate who provides this information  

Indicate who provides this information  

02.3. Provide a brief description of the ESG information used, highlighting any differences in sources of information across your ESG incorporation strategies.

Company raw data primarly comes from company reporting (in particular interim/annual and sustainability reports) and presentations, media and market sources. 

BTNZ subscribes to Sustainalytics database for their company analyses and ratings.

Sector reviews are undertaken on a semi-formal basis when reviewing specific issuing entities and their fit within a sector.

02.4. Additional information. [Optional]


FI 03. Processes to ensure analysis is robust

03.1. Indicate how you ensure that your ESG research process is robust:

03.2. Describe how your ESG information or analysis is shared among your investment team.

03.3. Additional information. [Optional]


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