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Pictet Asset Management

PRI reporting framework 2020

Export Public Responses

You are in Strategy and Governance » Investment policy


SG 01. RI policy and coverage


01.1. 責任投資アプローチをカバーする投資ポリシーを策定しているかどうかを明示してください。

01.2. ポリシーの構成要素/種類と対象範囲を示してください。

          Risk Management
          Reporting to clients

01.3. 投資ポリシーが以下のどの項目をカバーしているか明示して下さい:

01.4. 組織の投資原則および全体の投資戦略、受託者義務(または同等のもの)の解釈、ならびに、ESGファクターおよび実体経済の影響をどのように考慮に入れているかについて説明してください。

We are convinced that Environmental, Social and Governance (ESG) considerations can help us make better long-term investment decisions for our clients.

For decades, sustainability has been central to our way of thinking. Since the Pictet Group was founded in 1805, we have aimed to ensure the prosperity of our clients over the long term. In doing so, we have instinctively considered the interests of future generations.

Pictet Asset Management believes in responsible capitalism and takes an enlarged view of the economy and its interactions with civil society and the natural environment.

Consistent with our fiduciary duty to act in the best interests of our clients and our adherence to the UN Principles for Responsible Investment (UN PRI), we are committed to integrating material ESG criteria in our investment processes and ownership practices with a view to enhance returns and/or mitigate risks. We also aim to embed ESG in our risk management and reporting tools in order to maintain high standards of transparency and accountability.

Our commitment to responsible investment is supported by a set of basic principles covering six domains: Investment process, Active ownership, Exclusion toolbox, Risk management, Portfolio reporting, Marketing & Communication.

01.5. 責任投資アプローチをカバーする組織の投資ポリシーの重要な構成要素、バリエーション、例外事項を簡潔に説明してください。[任意]

Our commitment to responsible investment is supported by a set of basic principles covering six domains:

1. Investment process: Material ESG issues are embedded in research and investment processes with a view to enhance returns and/or mitigate risks. To help integrate ESG factors all investment professionals have access to a wide range of ESG data from various providers. Each provider was selected for its leading edge on specific ESG datasets.

2. Active ownership: Voting rights are exercised systematically in the best interest of our clients. Where appropriate, we engage with corporate and sovereign issuers in order to positively influence ESG performance.

3. Exclusion toolbox: Pictet Asset Management implements an exclusion policy on companies involved in the production of anti-personnel mines, cluster munitions, biological & chemical weapons (including white phosphorous) and nuclear weapons from countries not signatory to the Treaty on the Non-Proliferation of Nuclear Weapons (NPT).

4. Risk Management: ESG forms an integral part of risk management. Investment teams monitor ESG news flow of relevant issuers and take action where material changes occur. Investment Risk team provides quantitative information and qualitative comments on portfolio ESG characteristics in Quality Reviews.

5. Portfolio reporting: Relevant ESG metrics and qualitative comments are being included in standard reports of products/strategies that integrate ESG in their investment process.

6. Marketing & Communication: ESG metrics at portfolio level are developed by the Reporting team with the support of the ESG team. ESG features such as Proxy voting activity, Carbon footprint, Governance profile, Controversy profile are included in relevant marketing material and internal & external communications.

01.6. 補足情報 [任意]


SG 01 CC. Climate risk (Private)

SG 02. Publicly available RI policy or guidance documents


02.1. 一般に入手できる組織の投資ポリシー文書を記載してください。その文書のURLを記入し、該当文書を添付してください。






02.2. 一般に入手できる組織の投資ポリシー文書を記載してください。その文書のURLを記入し、該当文書を添付してください。






02.3. 補足情報 [任意]

SG 03. Conflicts of interest

03.1. 組織として、投資プロセスにおける潜在的な利益相反を管理するポリシーを策定しているかどうかについて明示して下さい。

03.2. 投資プロセスにおける潜在的な利益相反を管理するポリシーについて説明してください。

Pictet Asset Management has taken reasonable steps to identify potential conflicts of interest. We take all appropriate measures to manage any conflicts of interest arising, which includes the following:

- Separation of the fund management and dealing functions

- Research Commission Governance Committee oversight

- The pre-allocation of orders

- A fair trade allocation policy. Where orders that cannot be executed in full, reduced allocations are normally made on a pro-rata basis, unless this would result in uneconomic allocations to clients

- Fair allocation of investment ideas

- Side-by-side management (performance fee funds vs non-performance fee funds)

- Trading with affiliates only where permitted by clients, and where best execution can be obtained and monitored

- Reconciliation of commission volumes traded via Commission Sharing Agreements

- Periodic review and assessment of services paid under CSA arrangements to ensure eligibility

- No proprietary trading

- A strong Code of Ethics imposing strict rules on staff personal trading and the giving or receipt of gifts or entertainment, including the prior approval of the Compliance department.

Our Compliance department undertakes regular monitoring to provide assurance to senior management that conflicts of interest are effectively assessed and managed.

03.3. 補足情報 [任意]

SG 04. Identifying incidents occurring within portfolios (Private)