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Sycomore Asset Management

PRI reporting framework 2020

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Asset class implementation gateway indicators

OO 10. Active ownership practices for listed assets

10.1. Select the active ownership activities your organisation implemented in the reporting year.

Listed equity – engagement

Listed equity – voting

Fixed income Corporate (financial) – engagement

Fixed income Corporate (non-financial) – engagement


OO 11. ESG incorporation practices for all assets

11.1. Select the internally managed asset classes in which you addressed ESG incorporation into your investment decisions and/or your active ownership practices (during the reporting year).

Listed equity

Fixed income - corporate (financial)

Fixed income - corporate (non-financial)

Hedge funds

Select the externally managed assets classes in which you and/or your investment consultants address ESG incorporation in your external manager selection, appointment and/or monitoring processes.
Asset class
ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes
Listed equity

Listed equity - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - corporate (financial)

Fixed income - corporate (financial) - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - corporate (non-financial)

Fixed income - corporate (non-financial) - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Money market instruments

Money market instruments - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

11.4. Provide a brief description of how your organisation includes responsible investment considerations in your investment manager selection, appointment and monitoring processes.

Our externally managed asset classes include fund of funds mandates and two externally managed equity funds Synergy Emerging Markets and Synergy Smaller Cies co-managed by local fund managers. In 2019, these externally managed asset classes represented approximately 4% of our AUM. Please note that Synergy Emerging Markets was closed in December 2019.

  • Synergy Emerging Markets : In 2017, we analyzed the current ESG practices of each fund manager of the fund by sending them a detailed survey and presented the results as well as our own approach during the investment committee. Based on these exchanges, we proposed a ground for a common ESG approach including common exclusion crtieria, integration of Governance criteria, ESG controversy monitoring, PRI membership and proxy voting. In addition, we continously support our partners individually in the development and implementation of their approaches by sharing our experience and ressources on an ad-hoc basis. The outcome is a success with two asset managers signing up to the PRI and four out of five formally integrating ESG criteria in their investment decision making.
  • Synergy Smaller Cies : We incorporate ESG informally into the monitoring process. The ESG performance of companies within the portfolio is adressed on an ad-hoc basis during investment committees.

In 2019, as part of our fund of funds management, we formalized the way in which responsible investment applies to investment manager selection appointing and monitoring process directly into our fund selection process as validated by the internal control function. 

The process takes into account the following:

  • The requirement for all investment managers in our eligible universe to be PRI signatory and/or demonstrate an ESG integration process (as relevant);
  • The evaluation of the adequacy of the means put in place by the investment managers to ensure ESG integration (e.g. headcount);
  • The evaluation of the way ESG criteria may affect the portfolio construction;
  • The monitoring of the 10 biggest position of each portfolio we hold, to verify alignment with the ESG integration process;
  • Divestment if we detect companies that are not in line with Sycomore AM exclusion policy of that are severly affected by recurring controversies. 

 


OO 12. Modules and sections required to complete

12.1. Below are all applicable modules or sections you may report on. Those which are mandatory to report (asset classes representing 10% or more of your AUM) are already ticked and read-only. Those which are voluntary to report on can be opted into by ticking the box.

Core modules

RI implementation directly or via service providers

Direct - Listed Equity incorporation

Direct - Listed Equity active ownership

Direct - Fixed Income

Direct - Other asset classes with dedicated modules

RI implementation via external managers

Indirect - Selection, Appointment and Monitoring of External Managers

Closing module

12.2. Additional information. [Optional]

 

 

 


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