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Fisch Asset Management AG

PRI reporting framework 2020

You are in Strategy and Governance » Investment policy

Investment policy

SG 01. RI policy and coverage

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.3. Indicate if the investment policy covers any of the following

01.4. Describe your organisation’s investment principles and overall investment strategy, interpretation of fiduciary (or equivalent) duties,and how they consider ESG factors and real economy impact.

ESG philosophy

An investment process based on long-term sustainable investment considerations and taking ESG criteria into account is, in our view, a decisive factor in achieving maximum risk-adjusted returns and, hence, also in our clients’ best interests. We are confident that research about sustainability topics is essential to a comprehensive understanding of risks. Accordingly, ESG aspects are a basic component of our research process.

Taking ESG criteria into account helps us identify additional opportunities and risks in credit analysis, thus supporting us better understand companies in which we invest and, hence, make better investment decisions resulting in higher risk-adjusted returns over the long term.

ESG integration is based on the following convictions:

  • ESG criteria are integrated into our research processes in the most meaningful way possible to provide greater insight into fundamentals;
  • Our task is to manage our investors’ assets in a responsible manner. This makes it essential to take sustainability considerations into account, as well, and to engage issuers in a direct dialogue;
  • Business or corporate practices that do not comply with the objectives of responsible investment are excluded.

Our global sustainable convertible bond strategy expands the integrated approach with a combination of exclusion criteria and a best-in/best-of-class approach.

01.5. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]

According to our ESG investment policy we never invest in manufacturers of banned armaments. We incorporate sustainability research into our fundamental credit analysis and communicate with companies on the subject of sustainability. Responsible investment helps us to identify additional risks and opportunities when selecting issuers.

Fisch manages several mandates with a focus on responsible investments. The forms of implementation are manifold. For example, we have clients that provide us with exclusion lists in order to ensure a strategy that is purely based on responsible investments.

In 2009, Fisch launched one of the first sustainable convertible bond fund together with cooperation partner Bank J. Safra Sarasin AG, which provides the sustainable investment universe, a combination of exclusion critiera and best-in-class/best-of-class approach. The key elements of this investment approach are formed around following risks: - Environmental risks: regulatory changes, accidents, pricing of resources, environmental liabilities, protests, etc. - Social risks: labour conflicts, supply chain issues, corruption, product liability, loss of reputation, etc. - Governance risks: sustainability of business model, board culture, remuneration, communication with shareholders, etc.

01.6. Additional information [Optional].

          
        

SG 01 CC. Climate risk (Private)


SG 02. Publicly available RI policy or guidance documents

 

02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.

URL/Attachment

URL/Attachment

02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.

URL/Attachment

URL/Attachment

URL/Attachment

02.3. Additional information [Optional].


SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

Fisch does not engage in proprietary trading, does not generate income from trading and does not accept retrocessions or soft dollars. Hence, Fisch has no major source of conflicts of interest.

Furthermore, our corporate culture is characterised by independence, entrepreneurial spirit and joint ownership. The firm is 100% owned by its employees. In our view, the large extend of entrepreneurial spirit and pronounced corporate transparency leads to a genuine prevention of conflicts of interest.

03.3. Additional information. [Optional]


SG 04. Identifying incidents occurring within portfolios (Private)


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