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PRI reporting framework 2020

You are in Direct - Listed Equity Incorporation » Outputs and outcomes

Outputs and outcomes

LEI 12. How ESG incorporation has influenced portfolio composition

12.1. Indicate how your ESG incorporation strategies have influenced the composition of your portfolio(s) or investment universe.

Describe any reduction in your starting investment universe or other effects.


Our initial investment universe is composed of European companies with over 100 million euros of market capitalisation, with the exception of those subject to the exclusions specified in our policy (controversial weapons, coal production or consumption, tobacco and pornography). Our eligible universe therefore constitutes the starting point for portfolio construction.

Another filter consists of supplementing the financial analysis by favouring the discounted companies with the best ratings in their business sector and discounted companies making the best efforts in terms of transition to better ESG practices. 

Companies rated below or equal to BB+ may be selected subject to a minimum +++ Best effort rating.

Companies rated in the CCC bucket are ruled out

The starting universe is reducted by 20% on average.


Specify the percentage reduction (+/- 5%)

20 %

Select which of these effects followed your ESG integration.

12.2. Additional information.[Optional]

LEI 13. Examples of ESG issues that affected your investment view / performance (Not Completed)