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Pendal

PRI reporting framework 2020

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You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities » Implementation processes » (C) Implementation: Integration of ESG factors

C) 実施: 統合

LEI 08. Review ESG issues while researching companies/sectors

08.1. E・S・Gの各要因が投資分析の一環として体系的に調査されている、アクティブ運用の上場株式ポートフォリオの割合を記載してください。

ESG問題

影響を受ける割合
E(環境)

E(環境)

S(社会)

S(社会)

コーポレートガバナンス

コーポレートガバナンス

08.2. 補足情報 [任意]

Pendal's philosophy for all our funds, not just explicit RI mandates, is that where any ESG factor is considered to be material to the risk and return outcomes of the investment, the investment teams take it into consideration. 

 


LEI 09. Processes to ensure integration is based on robust analysis

09.1. ESG統合が徹底した分析に基づいていることを確実にするために、組織が使用しているプロセスを記載してください。

09.2. 組織の統合戦略の一環で包括的ESG調査の対象になるアクティブ運用上場株式の割合を記載してください。

09.3. ESG統合戦略に使われる第三者のESG評価が更新される頻度を示してください。

09.4. ESG統合戦略に使われる組織内調査を見直す頻度を示してください。

09.5. ポートフォリオ・マネージャーがどのようにしてESG情報を保有し、使っているのか説明してください。

09.6. 補足情報 [任意]

Use of ESG Information:

Both our internal and externally sourced ESG data is used as inputs, both formally and informally, in stock analysis. In addition, for some strategies, ESG data is explicitly utilised for portfolio construction and management purposes formally and informally.

  • Analysis of company strategy and quality of management - this is undertaken by analysts on a systematic basis as part of their stock research.
  • Idea generation examples - environmental factors providing investment opportunities in areas such as the gas industry. Social factors are providing investment opportunities in the health care sector.
  • Portfolio construction - some of our strategies systematically look at the impact that ESG factors are having at the overall portfolio level whilst for our mainstream strategies the Portfolio Manager will on occasion look at the composition of the portfolio from an ESG perspective.

LEI 10. Aspects of analysis ESG information is integrated into

この指標には新しい設問が追加されています。事前に入力されている回答を精査してください。

10.1. 投資分析のどの側面にESG情報を統合しているかを記載してください。

アクティブ運用する上場株式の内投資分析をする割合

アクティブ運用する上場株式の内投資分析をする割合

アクティブ運用する上場株式の内投資分析をする割合

アクティブ運用する上場株式の内投資分析をする割合

アクティブ運用する上場株式の内投資分析をする割合

アクティブ運用する上場株式の内投資分析をする割合

10.2. ESG情報を適正価値/ファンダメンタル分析および/またはポートフォリオの構築へと統合するプロセスについて、組織でのプロセスの一部となっている手法を選択してください。

10.3. ESG情報をポートフォリオの加重にどう統合しているかを説明してください。

For the Australian equity portfolios managed by Pendal, the impact of ESG on our portfolio construction is primarily a function of the bottom up stock selection investment process employed by the team, combined with a recognition of specific opportunities and risks that have ESG elements, driving the Portfolio Manager’s decision on how much of the stock to own in the portfolio.

Portfolio construction - some of our strategies systematically look at the impact that ESG factors are having at the overall portfolio level whilst for our mainstream strategies the Portfolio Manager will on occasion look at the composition of the portfolio from an ESG perspective.

We recognise that ESG factors can have a significant influence on the value placed on a company and its ability to drive shareholder returns on a long term basis.

We believe ESG is relevant to a portfolio or investment decision if one or more of the following apply:

1. ESG is a predictor of future returns and cash flows.

2. ESG analysis can flag longer term risks that investment analysis may not factored into the long term discount rate.

3. ESG analysis indicates that there are regulatory or ethical issues which should be considered.

10.4. 利益予想/バリュエーションツールの修正に使用した手法を説明してください。

Our investment analysts'  income forecast and valuations may be adjusted based on ESG factors that we have identified to have a significant influence on the value placed on a company and its ability to drive shareholder returns on a long term basis.

We believe ESG is relevant to a portfolio or investment decision if one or more of the following apply:

1. ESG is a predictor of future returns and cash flows.

2. ESG analysis can flag longer term risks that investment analysis may not factored into the long-term discount rate.

3. ESG analysis indicates that there are regulatory or ethical issues which should be considered.

Analysis of company strategy and quality of management - this is undertaken by analysts on a systematic basis as part of their company research. We accept that there is a relationship between governance and investment returns. For this reason, Governance will be assessed in making asset allocation decisions.

10.6. 補足情報 [任意]

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