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First Sentier Investors (including First State Investments)

PRI reporting framework 2020

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(B) Implementation: Thematic

LEI 07. Types of sustainability thematic funds/mandates

07.1. Indicate the type of sustainability thematic funds or mandates your organisation manages.

07.2. Describe your organisation’s processes relating to sustainability themed funds. [Optional]

The Stewart Investors: 

Our Sustainable Funds Group focus on long-term sustainable development as a key driver of the investment process. The team invests in the shares of high quality companies that are well positioned to benefit from and contribute to the sustainable development of the countries in which they operate.

Global Listed Infrastructure: 

In December 2017 the global listed infrastructure team launched the First State Sustainable Listed Infrastructure Fund. This Fund appeals to investors who wish to gain exposure to the benefits that listed infrastructure asset class can offer (steady capital growth and inflation-protected income); and who also want to ensure that the companies they invest in are taking a responsible stance towards sustainability issues. 
This Fund invests in the same opportunity set as the global listed infrastructure strategy, but includes an additional stage in its investment process known as “sustainability analysis”. This stage takes a deeper look at the sustainability aspects of each company and seeks to further understand the direction of travel a company is moving; the adequacy of measures put in place so far; and, their ability to contribute towards the UN Sustainable Development Goals (SDGs). 
We see an increasing awareness of SDGs from companies within the listed infrastructure investment universe, with the most relevant six being:
• Clean Water and Sanitation
• Affordable and Clean Energy
• Industry, Innovation and Infrastructure 
• Sustainable Cities and Communities 
• Responsible Consumption and Production
• Climate Action
SDGs also provide a useful framework that supports the Fund’s approach to company engagement.