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Trecento

PRI reporting framework 2020

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Objectives and strategies

SG 05. RI goals and objectives

05.1. Indicate if and how frequently your organisation sets and reviews objectives for its responsible investment activities.

05.2. Additional information. [Optional]

The ESG committee of Trecento AM sets up and monitors the responsible investment policies of the management company. Its role is also to rule on investment decisions concerning controversial issuers, ESG scores and the ESG scoring model as well was the best way to improve and develop it.


SG 06. Main goals/objectives this year

06.1. List the main responsible investment objectives that your organisation set for the reporting year.

Responsible investment processes

Key performance indicator

          Training of all new fund managers, analysts or interns on ESG incorporation.
        

Progress achieved

All new employees or interns of Trecento AM have been trained on ESG incorporation.

Key performance indicator

          Training of all new fund managers, analysts or interns on ESG engagement.
        

Progress achieved

All new employees or interns of Trecento AM have been trained on ESG engagement.

Key performance indicator

          Organisation of regular training and information meetings around ESG activities of Trecento AM.
        

Progress achieved

We have organised several meetings with all employees of the company to explain our reponsible investment strategy and how ESG activities are a key part of this strategy.

Key performance indicator

          Number of meetings or engagements with the management of issuers to discuss ESG issues
        

Progress achieved

We have developed a database to list all ESG interactions with issuers' management to efficacely follow engagement of our analysts/fund managers on ESG issues.

Key performance indicator

          All analysis and investment decision should be made after a comprehensive ESG analysis has been conducted on a issuer.
        

Progress achieved

All studies and analysis produced this year by the research team included an ESG analysis.

We have also amended the legal documents of our investment funds (Trecento Santé ISR and Trecento Robotique ISR) to make this analysis compulsory, as part of our SRI screening and investment selection process.

Financial performance of investments

Key performance indicator

          Average ESG score of our portfolio vs its investment universe
        

Progress achieved

Our Trecento Santé ISR and Trecento Robotique ISR funds now include a key extra-financial performance objective: the average ESG score of the issuers in portfolio (position-weighted) must be higher, at all times, than the average ESG score of the issuers in the investment universe (weighted by their market capitalisation in euros) after the exclusion of the 20% worst scored issuers. This objective satifies the requirement of the French socially responsible investment label.

ESG characteristics of investments

Key performance indicator

          Weighting penalty depending on the severity rate of an issuer's controversy
        

Progress achieved

Trecento AM has developped a monitoring tool, through a database, that enables the analysts and fund managers to identify, categorise and continuously monitor the ESG incidents and controversies that impact the issuers whose securities are held in our investment funds.

The severity of each controversy is analysed and ranked, as well as the answers and actions undertaken by the issuers to mitigate the controversy.

The management team then decides what actions, if any, to take, depending on the ranking of the controversy. In severe cases, the issuer can be impacted by a penalty as regard its maximum weighting in our funds (can be decreased by 0.25%, 0,5% or 1%) or could even be added to the exclusion list of Trecento AM.

Key performance indicator

          Average ESG score of our portfolio vs its investment universe
        

Progress achieved

Our Trecento Santé ISR and Trecento Robotique ISR funds now include a key extra-financial performance objective: the average ESG score of the issuers in portfolio (position-weighted) must be higher, at all times, than the average ESG score of the issuers in the investment universe (weighted by their market capitalisation in euros) after the exclusion of the 20% worst scored issuers. This objective satifies the requirement of the French socially responsible investment label.

Other description (1)

          Increase the ESG scoring of the portfolio
        

Key performance indicator

          Extra-financial scoring rate (in number of rated issuers) of the portfolio
        

Progress achieved

The extra-financial scoring rate of the portfolio must be higher than 90% (in number of issuers) at all times but we have achieved 100%.

Other activities

Key performance indicator

          RI Certification of our funds
        

Progress achieved

We have been awarded the French Socially Reponsible Investment label ("ISR") for Trecento Santé ISR and Trecento Robotique ISR.

Key performance indicator

          Promotion and support of RI initiatives
        

Progress achieved

We have made numerous presentations of our RI strategy to our clients, which are mainly institutional clients (pension funds, mutual insurers), private banks, family offices to promote the value-added and importance of a RI strategy.

Key performance indicator

          Materialising our ESG analysis into case studies that can be delivered to clients
        

Progress achieved

Exemples of ESG analysis case study are shown to our clients at all investors' meetings.

06.2. Additional information.

2019 was an important year for our responsible investment strategy as we have strengthened our ESG incorporation in the decision-making process and have implemented a strict Socially Responsible Investment strategy for our funds Trecento Santé ISR and Trecento Robotique. We have therefore amended our investment processes, the training and appraisal of internal staff and our communication/marketing to clients.


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