All research is conducted in house. This allows a consistency of approach and a degree of rigour we do not believe we could achieve elsewhere. Moreover, ESG analysis is an integral part of our investment strategy (as opposed to a screening or secondary consideration) and therefore occurs alongside traditional financial analysis. A limitation of this approach could be the possibility of missing relevant information however we also use 3rd party providers including MSCI and ISS for external verification and back up information.
Our ESG analysis is continuous and involves significant engagement with holdings. We believe that it is not only absolute standards of management and business practices that are important, but also the direction of travel. As such, to the extent we can drive better processes, understanding and discussion, we can generate better financial returns.