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Ardevora Asset Management LLP

PRI reporting framework 2020

You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities

アクティブ運用している上場株式におけるESGの組み入れ

実施プロセス

LEI 01. Percentage of each incorporation strategy

01.1. 以下を記載してください。(1)組織でのアクティブ運用上場株式にどのESG組み入れ戦略や組み合わせを使用しているか(2)アクティブ運用している上場株式の戦略または戦略の組み合わせ別内訳

ESG組み入れ戦略 (当てはまるものをすべてお選びください)
アクティブ運用される上場株式に戦略が適用される割合 (推定 +/- 5%)
100 %
アクティブ運用している上場株式の合計 300%

01.2. 組織が実施しているESG組み入れアプローチ、および、特定のESG組み入れ戦略を選択している場合はその理由を説明してください。

Ardevora’s investment process lies at the heard of everything it does. Ardevora’s objective is to generate significant outperformance over the long-term whilst maintaining a relentless focus on risk.

Ardevora is dedicated to achieving the best possible risk-adjusted returns for its investors and believe responsible investment ("RI") is an important factor in achieving these returns for its clients. As part of this Ardevora strive to gain an understanding of the relevant environmental, social, governance ("ESG") issues applicable to its investments and seek to identify these issues before they escalate into events that may threaten the value of its investments.

To enhance Ardevora’s ESG understanding, Ardevora collects ESG information from third party providers of ESG research – this strengthens its Fund Managers understanding of a company’s ESG practices and the risks that they may present to Ardevora’s current and potential portfolio holdings. While these service providers do not cover every company in Ardevora’s investment universe, they provide a comprehensive tool to enhance and supplement fundamental research and analysis. The external service provider reports are used to derive scores for corporate governance, socially responsible and environmental factors which feed into the decision to invest. 

Identifying and incorporating ESG factors does not substitute Ardevora’s existing investment process. It presents additional factors to be taken into the investment decision. Ardevora retains complete control over any investment decisions.

In addition, Ardevora has a Global Long-only Equity SRI Fund. This Fund has exposure to a broad spread of stocks in most of the major equity markets around the world. The Fund will typically hold between 140 and 190 stocks and these will be equally weighted by region in order to reduce individual stock risk. The construction of the Fund includes an overlay screen, which includes some of the principles of Socially Responsible Investment ("SRI").

01.3. ESG組み入れ戦略の組み合わせを使用して資産を運用している場合、ESG戦略の組み合わせをどのように使用しているかを簡単に説明してください。 [任意]

To enhance Ardevora’s ESG understanding, Ardevora collects ESG information from third party providers of ESG research – this strengthens its Fund Managers understanding of a company’s ESG practices and the risks that they may present to Ardevora’s current and potential portfolio holdings. While these service providers do not cover every company in Ardevora’s investment universe, they provide a comprehensive tool to enhance and supplement fundamental research and analysis. The external service provider reports are used to derive scores for corporate governance, socially responsible and environmental factors which feed into the decision to invest.

Ardevora has a Global Long-only Equity SRI Fund. This Fund has exposure to a broad spread of stocks in most of the major equity markets around the world. The Fund will typically hold between 140 and 190 stocks and these will be equally weighted by region in order to reduce individual stock risk. The construction of the Fund includes an overlay screen, which includes some of the principles of Socially Responsible Investment ("SRI").


LEI 02. Type of ESG information used in investment decision (Private)


LEI 03. Information from engagement and/or voting used in investment decision-making (Private)


A) 実施:スクリーニング

LEI 04. Types of screening applied

04.1. 組織内でアクティブ運用している上場株式に適用するスクリーニングの種類を記載し、説明してください。

スクリーニングの種類

スクリーニング実行者

説明

Ardevora’s investment process lies at the heard of everything it does. Ardevora’s objective is to generate significant outperformance over the long-term whilst maintaining a relentless focus on risk.

Ardevora are dedicated to achieving the best possible risk-adjusted returns for its investors and believe responsible investment ("RI") is an important factor in achieving this. As part of this Ardevora strive to gain an understanding of the relevant environmental, social, governance ("ESG") issues applicable to Ardevora's investments.

To enhance Ardevora’s ESG understanding and supplement existing fundamental research, Ardevora collects ESG information from third-party providers of ESG research, which strengthens its Fund Managers understanding of a company’s ESG practices and risks. The external service provider reports are used to derive scores for ESG respectively. Identifying and incorporating ESG factors does not substitute Ardevora’s existing investment process. It presents additional factors to be considered in the investment decision.

Ardevora’s Global Long-only Equity SRI Fund has exposure to a broad spread of stocks in most of the major equity markets. The construction of the Fund includes an overlay screen, which include some of the principles of Sustainable Responsible Investment ("SRI").

04.2. スクリーニング基準が変更された場合に顧客や受益者に通知する方法について説明してください。

Part of the responsibilities of Ardevora include reviewing and defining Ardevora’s consideration of ESG factors and any necessary screen. Once a decision is made by Ardevora to amend or offer different screenings, clients and/or beneficiaries will be duly consulted before any changes are implemented.

Additionally to the Ardevora SRI Fund mentioned, client segregated accounts may impose their own specific screens which they would have Ardevora apply. For example, one of Ardevora's clients has it impose a controversial weapons screen over and above the Ardevora firm level screen.


LEI 05. Processes to ensure screening is based on robust analysis

05.1. スクリーニング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選択してください。

05.3. 第三者のESG評価がスクリーニング目的で更新される頻度を示してください。

05.5. 補足情報 [任意]


LEI 06. Processes to ensure fund criteria are not breached (Private)


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]


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。

          Review and evaluation of external research providers.
        

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。

09.5. 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]

Ardevora’s independent RI implementing partner, Kukua, reviews the quality of data provided by Ardevora’s third-party ESG data provider periodically. In addition to this, Kukua also updates Ardevora of any new ESG data products that come to the market that could enhance its ESG consideration.


LEI 10. Aspects of analysis ESG information is integrated into (Private)


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