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Loomis, Sayles & Company, L.P.

PRI reporting framework 2020

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Engagement

LEA 02. Reasoning for interaction on ESG issues

Indicate the method of engagement, giving reasons for the interaction.

Type of engagement

Reason for interaction
Individual / Internal staff engagements
Collaborative engagements
Service provider engagements

02.4. Additional information. [Optional]

Internal engagements:  We are raising awareness and educating our investment teams about the need for additional ESG disclosure by corporate issuers.  More specifically, we are beginning to see engagement examples from our investment professionals that reflect issuers'  progress in certain fundamental E, S, or G areas.  However,  the companies are not always disclosing their progress or key data metrics in their financial statements.  The transparent and comparable disclosure of fundamental factors, including ESG specific issues, is important to our investment professionals, so they have increasingly been encouraging this disclosure as part of their engagement.

Collaborative engagements:  Our firm is part of the Association for Institional Investors (AII), and our COO is serving as its president.  This group consists of the largest Boston area asset managers, along with accounting firms and other industry participants including firms like eVestment, and began discussions on collaboration to establish standards to gather information about each firm's ESG work and activiity.  Our goal is to help improve the efficiency and effectiveness of information gathering, and perhaps influence standardized disclosures of the key ESG factors.

 

 

LEA 03. Process for identifying and prioritising engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

03.1. Indicate whether your organisation has a formal process for identifying and prioritising engagements.

Indicate the criteria used to identify and prioritise engagements for each type of engagement.
Type of engagement
Criteria used to identify/prioritise engagements
Individual / Internal engagements

Internal / Individual engagements

Collaborative engagements

Collaborative engagements

03.3. Additional information. [Optional]

We have begun to assess and consider how we identify and prioritize our engagement activities.  Historically our engagement has been driven by the investment professionals, based on the key fundamental issues that they want to understand better, and that they believe may pose risks (or opportunities) to impact the financial performance of their client accounts.  We have been formally tracking these engagements for three years. 

Our goal this year is to identify specific areas of engagement, such as:

- Climate issues, particularly in line with the TCFD

- Absolute or relative risks across the firm's portfolios - perhaps using the SASB framework as the key issues 

- Specific ESG issues within the portfolios themselves

- Key fundamental ESG factors impacting specific issuers

LEA 04. Objectives for engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.
Indicate whether you define specific objectives for your organisation’s engagement activities.
Individual / Internal engagements
Collaborative engagements

04.2. Additional information. [Optional]

We have begun to assess and consider how we identify and prioritize our engagement activities.  Historically our engagement has been driven by the investment professionals, based on the key fundamental issues that they want to understand better, and that they believe may pose risks (or opportunities) to impact the financial performance of their client accounts.  We have been formally tracking these engagements for three years. 

Our goal this year is to identify specific areas of engagement, such as:

- Climate issues, particularly in line with the TCFD

- Absolute or relative risks across the firm's portfolios - perhaps using the SASB framework as the key issues 

- Specific ESG issues within the portfolios themselves

- Key fundamental ESG factors impacting specific issuers

LEA 05. Process for identifying and prioritising collaborative engagement

Indicate if you monitor and/or review engagement outcomes.
Individual / Internal engagements
Collaborative engagements
Indicate if you do any of the following to monitor and review the progress of engagement activities.
Individual / Internal staff engagements 
          We have an internally developed engagement database where the analysts document their engagement progress.

05.3. Additional information [Optional]

We have the ability to monitor and document engagement outcomes within an internally developed database.  We have been using the application for three years, and we are working with the investment professionals to enhance the depth and quality of their engagement activities.  Many of the expected outcomes are longer term in nature, so the documentation and tracking of the interim discussions is an important part of the process.

LEA 06. Role in engagement process

06.1. Indicate whether your organisation has an escalation strategy when engagements are unsuccessful.

06.3. Additional information. [Optional]

Each equity investment team conducts its own ESG engagements on issues, and has its own strategies about what steps it may take when the team has an issue that it believes is not progressing as expected.

LEA 07. Share insights from engagements with internal/external managers

07.1. Indicate whether insights gained from your organisation's engagements are shared with investment decision-makers.

Type of engagement

Insights shared
Individual / Internal staff engagements

Collaborative engagements

07.2. Indicate the practices used to ensure information and insights collected through engagements are shared with investment decision-makers.

07.3. Indicate whether insights gained from your organisation’s engagements are shared with your clients/beneficiaries.

Type of engagement

Insights shared

Individual/Internal staff engagements

Collaborative engagements

07.4. Additional information. [Optional]

We have created an internal database to track engagement.

LEA 08. Tracking number of engagements

08.1. Indicate if you track the number of your engagement activities.

Type of engagement
Tracking engagements

Individual / Internal staff engagements

Collaborative engagements

08.2. Additional information. [OPTIONAL]

We created a database three years ago where investment professionals document each company or issuer engagement that they have, and whether or not they discussed E, S, or G issues.  The investment professionals have the ability to document and track their engagement over time.
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