AIMCo's sovereign investments are mainly Canadian federal, provincial, municipal and related entities. Internal credit analysts evaluate sovereign issuers in the context of its financial institutions given that a sovereign issuer's credit is inextricably linked to that of its domestic banking system. AIMCo's Fixed Income team prioritizes analyzing lower rated corporate credits where ESG factors have a larger impact. Governance issues for municipal and quasi sovereign credits (e.g. universities, school boards, hospitals, transportation authorities) are considered more frequently.

The AIMCo Fixed Income team integrates the analysis of ESG issues into security selection and portfolio construction. Our internal credit research will capture ESG. Such issues are flagged through a bottom-up analytical approach and access to management. These issues are incorporated into our internal notional ratings which portfolio managers use to select securities and construct portfolios.

The AIMCo Fixed Income team integrates the analysis of ESG issues into security selection and portfolio construction. Our internal credit research will capture ESG. Such issues are flagged through a bottom-up analytical approach and access to management. These issues are incorporated into our internal notional ratings which portfolio managers use to select securities and construct portfolios.  

The AIMCo Fixed Income team integrates the analysis of ESG issues into security selection and portfolio construction. Our internal credit research will capture ESG. Such issues are flagged through a bottom-up analytical approach and access to management. These issues are incorporated into our internal notional ratings which portfolio managers use to select securities and construct portfolios. ESG risks are evaluated to the extent that such risks affect servicers, counterparties or specific obligors.

AIMCo's sovereign investments are mainly Canadian federal, provincial, municipal and related entities. Internal credit analysts evaluate sovereign issuers in the context of its financial institutions given that a sovereign's credit is inextricably linked to that of its domestic banking system. AIMCo's Fixed Income team prioritizes analyzing lower rated corporate credits where ESG factors have a larger impact. Governance issues for municipal and quasi sovereign credits (e.g. universities, school boards, hospitals, transportation authorities) are considered more frequently. Environmental and Social issues are typically reviewed when contingent liabilities are present.

We integrate the analysis of governance issues into our security selection and portfolio construction. Internal credit analysts develop independent notional ratings and evaluate governance issues for the corporate bond issuers in our investing universe. Examples of typical governance issues include:

1) Board independence and oversight of CEO;

2) Level and nature of executive compensation (alignment of incentives); and

3) Independence of audits and quality of internal controls.

AIMCo also considers the advice of rating agencies on governance issues (e.g. S&P). Environmental and Social issues are evaluated on a case by case basis if relevant to an individual issuer (e.g. potential environmental remediation or labour issues and their related impact).

We integrate the analysis of governance issues into our security selection and portfolio construction. Internal credit analysts develop independent notional ratings and evaluate governance issues for the corporate bond issuers in our investing universe. Examples of typical governance issues include:

1) Board independence and oversight of CEO;

2) Level and nature of executive compensation (alignment of incentives); and

3) Independence of audits and quality of internal controls.

AIMCo also considers the advice of rating agencies on governance issues (e.g. S&P). Environmental and Social issues are evaluated on a case by case basis if relevant to an individual issuer (e.g. potential environmental remediation or labour issues and their related impact).

We integrate the analysis of ESG issues into our security selection and portfolio construction. Internal credit analysts develop independent notional ratings and evaluate ESG risks to the extent that such risks affect servicers, counterparties or specific obligors.