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Fort Washington Investment Advisors, Inc

PRI reporting framework 2020

You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income » (C) Implementation: Integration

C) 実施:ESG問題の統合

FI 10. Integration overview

10.1. ESGを従来の財務分析に統合するアプローチを説明してください。

Fort Washington believes that credit analysis is a core competency. Our credit research process is driven by bottom-up, fundamental research, supplemented with quantitative tools, with ESG factors being an integral part of the process. Credit analysts are responsible for fundamental research, performance, and being apprised of ESG related factors impacting securities in their sectors. For example, if an analyst uncovers an ESG issue that could impact a company’s ability to service its debt, the analyst would most likely refrain from recommending the credit for purchase, or, if currently owned, would recommend selling the bond. We currently do not restrict purchases based solely on ESG factors. In the event a CCC issuer is held, the covering analyst is required to create a memo explaining why holding the investment is in the best interest of the client.

10.2. 投資する債券の各種類に対してESG統合アプローチをどのように調整するのか説明してください。

社債(金融)

Fort Washington believes that credit analysis is a core competency. Our credit research process is driven by bottom-up, fundamental research, supplemented with quantitative tools, with ESG factors being an integral part of the process. Credit analysts are responsible for fundamental research, performance, and being apprised of ESG related factors impacting securities in their sectors. For example, if an analyst uncovers an ESG issue that could impact a company’s ability to service its debt, the analyst would most likely refrain from recommending the credit for purchase, or, if currently owned, would recommend selling the bond. We currently do not restrict purchases based solely on ESG factors. In the event a CCC issuer is held, the covering analyst is required to create a memo explaining why holding the investment is in the best interest of the client.

社債(非金融)

Fort Washington believes that credit analysis is a core competency. Our credit research process is driven by bottom-up, fundamental research, supplemented with quantitative tools, with ESG factors being an integral part of the process. Credit analysts are responsible for fundamental research, performance, and being apprised of ESG related factors impacting securities in their sectors. For example, if an analyst uncovers an ESG issue that could impact a company’s ability to service its debt, the analyst would most likely refrain from recommending the credit for purchase, or, if currently owned, would recommend selling the bond. We currently do not restrict purchases based solely on ESG factors. In the event a CCC issuer is held, the covering analyst is required to create a memo explaining why holding the investment is in the best interest of the client.

10.3. 補足情報 [任意]


FI 11. Integration - ESG information in investment processes

11.1. ESG情報が、通常、投資プロセスの一部としてどのように使用されるのか記載してください。

当てはまるものをすべて選択してください
社債(金融)
社債(非金融)
ESG分析をファンダメンタル分析に組み込んでいる
ESG分析が発行体の内部信用評価を調整するために利用される
ESG分析が予想財務業績および将来キャッシュフロー予測を調整するために利用される
ESG分析が発行体の同業グループと比較したランキングに影響する
発行体のESG債スプレッドおよび同セクター企業に対するその相対価値が、すべてのリスクが織り込まれているか否かを把握するために分析される
各種デュレーション/満期の発行体債券へのESG分析の影響が分析される。
感度分析およびシナリオ分析が、ベースケースとESG組み込み証券評価の差を比較する評価モデルに適用される
ESG分析が、ポートフォリオのウェイティング決定に組み込まれている
会社、セクター、国、通貨が、ESGエクスポージャーの変化およびリスク制限の違反についてモニタリングされる
ESGリスクが大きい証券についてポートフォリオのESGプロファイルが検討され、ベンチマークのESGプロファイルと比較して評価される
その他(具体的に記載してください)

11.2. 補足情報 [任意]

ESG factors are integrated into regular investment analysis in the selection and monitoring processes. Analysts utilize multiple tools to research their investments. ESG factors are used as part of the core set of models and due diligence processes to determine portfolio eligibility. On a monthly basis, MSCI reporting is created for each strategy that outlines the portfolio, segment and security level ESG scores. If a security has a rating of CCC, the analyst is required to write an internal memo indicated why holding that investment is in the best interest of meeting the client's goals.


FI 12. Integration - E,S and G issues reviewed

12.1. 組織の統合プロセスでESG問題をどのように検討するか示してください。

E(環境)
S(社会)
G(ガバナンス)
社債(金融)

E(環境)

S(社会)

G(ガバナンス)

社債(非金融)

E(環境)

S(社会)

G(ガバナンス)

12.2. 組織の統合プロセスでE/S/G要因を検討する方法を詳しく説明してください。

社債(金融)

ESG factors are integrated into regular investment analysis in the selection and monitoring processes. Analysts utilize multiple tools to research their investments. ESG factors are used as part of the core set of models and due diligence processes to determine portfolio eligibility.

On a monthly basis, MSCI reporting is created for each strategy that outlines the portfolio, segment, and security level ESG scores. If a security has a rating of CCC, the analyst is required to write an internal memo indicating why holding that investment is in the best interest of the client.

社債(非金融)

ESG factors are integrated into regular investment analysis in the selection and monitoring processes. Analysts utilize multiple tools to research their investments. ESG factors are used as part of the core set of models and due diligence processes to determine portfolio eligibility.

On a monthly basis, MSCI reporting is created for each strategy that outlines the portfolio, segment, and security level ESG scores. If a security has a rating of CCC, the analyst is required to write an internal memo indicating why holding that investment is in the best interest of the client.

12.3. 補足情報 [任意]


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