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Abbott Capital Management, LLC

PRI reporting framework 2020

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Asset class implementation gateway indicators

OO 10. Active ownership practices for listed assets (Not Applicable)


OO 11. ESG incorporation practices for all assets

Select the externally managed assets classes in which you and/or your investment consultants address ESG incorporation in your external manager selection, appointment and/or monitoring processes.
Asset class
ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes
Private equity

Private equity - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

11.4. Provide a brief description of how your organisation includes responsible investment considerations in your investment manager selection, appointment and monitoring processes.

Abbott reviews and evaluates general partners’ ESG policies and approaches as a part of our diligence process when evaluating new investment opportunities, and monitors general partners’ reporting of and response to any ESG-related developments when reviewing active fund performance.

Team

Abbott has appointed Matthew M. Smith, one of its Managing Directors on the Investment team, to serve as the company’s ESG Officer.  Additionally, Abbott's portfolio managers are responsible for obtaining information from general partners about their ESG policies and presenting that information to Abbott's full Investment team during the investment review process. As Abbott’s ESG research efforts are conducted by the Investment team, ESG polices are factored into investment decisions throughout the investment process.

Selection

Among other considerations, Abbott incorporates several ESG factors into its decision-making process. The weighting of such factors vary from opportunity to opportunity, and in some cases, specific factors may have more importance than others. Those factors include, but are not limited to:

  • The Manager's overall investment strategy and how ESG objectives relate to it
  • ESG reporting capabilities
  • Time horizon of the general partner's investment strategy
  • Quality of the general partner's investment policy as it relates to ESG
  • General partner's investment approach and how ESG objectives are implemented in their investment process
  • Level of general partner's ESG expertise
  • Evidence of results of a general partner's ESG implementation practices

ESG factors that do not align with Abbott’s investment objectives may cause the firm to pass on a potential investment. The main ESG factor that may affect Abbott’s portfolios is governance and incentive alignment.

Monitoring

Throughout the term of a private equity investment, Abbott monitors the actions of its general partners by attending their annual meetings and where possible, and obtaining advisory board seats among other things. Abbott often has the opportunity to encourage both appropriate transparency in reporting and effective governance decisions.  Abbott’s participation on the advisory board of many private equity funds provides an additional forum to discuss relevant SRI/ESG developments directly with the manager and fellow limited partners.  Effective risk management requires active and continuous communication between Abbott and the managers to whom we entrust our clients’ assets, and we believe that this active communication provides Abbott the ability to quickly and efficiently address developments, whether about SRI/ESG concerns, or any other aspect of the fund or industry.  Abbott may review several ESG factors when monitoring general partners, including, but not limited to:

  • Investment restrictions and any controversial investment decisions
  • ESG portfolio characteristics
  • Information on any ESG incidents
  • Discussion points related to ESG policies as they arise

OO 12. Modules and sections required to complete

12.1. Below are all applicable modules or sections you may report on. Those which are mandatory to report (asset classes representing 10% or more of your AUM) are already ticked and read-only. Those which are voluntary to report on can be opted into by ticking the box.

Core modules

RI implementation via external managers

Indirect - Selection, Appointment and Monitoring of External Managers

Closing module

12.2. Additional information. [Optional]


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