Alquity Indian Subcontinent Y A GBP

Our objective is to provide growth for investors by tapping into the fast-moving, dynamic opportunities across the Indian Subcontinent by focusing on long-term investment themes such as demographics, urbanisation, the New India and long-term competitive advantages.

Negative

Alcohol Production

Companies with over 5% revenues attributed to the manufacture of alcoholic spirits in their most recent financial report are excluded from the fund's investable universe. This exclusion also applies to conglomerates where this issue comprises over 5% of revenue.

A distinction is made between spirits, which are regarded as inherently harmful; and beer and wine, which are not. Beer and wine manufacture are not excluded under this criterion.

Armaments

Companies with over 5% revenues attributed to the Armaments sector in their most recent financial report are excluded from the fund's investable universe. This exclusion also applies to conglomerates where this issue comprises over 5% of revenue.

Gambling

Companies with over 5% revenues attributed to the Gambling sector in their most recent financial report are excluded from the fund's investable universe. This exclusion also applies to conglomerates where this issue comprises over 5% of revenue.

Pornography

Companies with over 5% revenues attributed to the Adult Entertainment sector in their most recent financial report are excluded from the fund's investable universe. This exclusion also applies to conglomerates where this issue comprises over 5% of revenue.

Tobacco Production

Companies with over 5% revenues attributed to the production of tobacco or manufacture of tobacco products in their most recent financial report are excluded from the fund's investable universe. This exclusion also applies to conglomerates where this issue comprises over 5% of revenue.

Positive

Community Positive

Through its Transforming Lives programme, Alquity donates up to 25% of its management fees to support local entrepreneurs in getting small businesses off the ground in the regions in which its funds invest. Working through local partners in these regions the programme supports projects including:

  • Providing essential skills training for sustainable job creation;

  • Empowering the poorest in society with practical skills and the means to grow their income;

  • Supporting ICT training to prepare young people for higher education and employment;

  • Lifting children out of suffering and poverty; and

  • Providing microfinance and training for women developing small business.

Corporate Governance Positive

Alquity is an active shareholder and always exercises its voting rights. It engages extensively with the management of companies in which it invests to help improve their environmental, social, and governance performance, including governance/transparency - directors independence; related party transactions; use of cash and equity raising history; accounting policies and reputation of auditors; treatment of minority shareholders; access to management; disclosure; ESG policies and reporting.

Engagement Approach

Alquity is an active shareholder and always exercises its voting rights. It engages extensively with the management of companies in which it invests to help improve their environmental, social, and governance performance, including:

  • Environment - environmental standards; waste and water management; carbon emissions.

  • Society - health and safety practices; supply chain labour standards; social and anti-discrimination policies.

Investments are made with the expectation of positive change and, depending on the overall investment analysis, companies that move backwards in these areas are exited.

Environment Climate Change Positive

Alquity's company analysis processes include investigation of:

  • Environmental standards and practices.

  • Waste management and water usage.

  • Carbon emissions.

Human Rights Positive

Alquity's investment analysis includes investigation of:

  • Health and safety policies and practices.

  • Labour standards within company supply chains. 

  • Social and anti-discrimination policies.

FP WHEB Sustainability C Acc

The Fund focuses on the opportunities created by the transition to healthy, low carbon and sustainable economies. The investment team selects high-quality companies from nine broad themes with strong growth characteristics to create a globally diversified portfolio. We develop long-term relationships with company managements to promote the best environmental, social and economic outcomes.

Negative

Animal Testing Non-Medical

The Fund does not invest in companies with activities substantially related to the provision of cosmetics where animal testing has been involved.

Intensive Farming

The Fund does not invest in companies with activities substantially related to the provision of intensive farming practices.

Nuclear Power/Services

The Fund does not invest in companies with activities substantially related to the provision of nuclear power generation.

Positive

Community Positive

WHEB's investment research process looks for evidence that companies recognise the importance of good relationships with key stakeholder groups. Relations with local communities can be an important issue in certain sectors in which the fund invests, such as waste management and water utilities. WHEB looks for evidence of responsible, long-term practices and active engagement with local communities as a route to underpinning a company's long-term right to operate.

Corporate Governance Positive

A core part of the stock-level analysis includes explicit consideration of the company's governance and business ethics. WHEB considers the robustness of company risk management systems, its governance processes, the extent of any involvement in controversial issues or activities, and overall company alignment with sustainability issues and themes.

Education & Knowledge Positive

The fund seeks investment in companies providing educational products and services. Focusing on a range of sectors, the theme includes:

  • Information technologies;

  • Corporate and professional training;

  • Academic publishers and providers of text-books;

  • Language schools; and

  • Providers of technology for schools.

Employees Positive

As part of the investment research process WHEB looks for evidence that companies recognise the importance of good relationships with key stakeholder groups. For the sectors in which the fund invests, WHEB regards good employee relations, strong health and safety practices and training as often critical issues in ensuring the company is able to compete effectively in its market. These issues are examined to ensure that companies in which the fund invests in are managing them responsibly and are thereby well-placed to deliver strong financial performance.

Engagement Approach

A critical input throughout the Fund's investment process is on-going engagement with investee companies and other stakeholders such as other investors, non-governmental organizations, policy-makers, academics and regulators, in order to:

  • Generate additional insights into company practice or into particular issues, which in turn feed into investment decisions; and/or

  • Exercise influence in order to improve corporate management and performance over the long-term.

The team at WHEB actively monitors companies to satisfy themselves as to the environmental, social and governance (ESG) performance of portfolio companies. Where appropriate they enter into dialogue with company management, either through meetings or correspondence, to encourage improved performance.

Environment Climate Change Positive

The fund seeks investment in companies that offer solutions to problems of environmental sustainability including resource efficiency, cleaner energy and sustainable transport.

Environment Management Positive

In a world of growing resource scarcity and increasingly strict environmental standards, WHEB believes that effective environmental management is an essential aspect of successful company management. The process of selecting suitable investments includes a review of the quality of environmental management systems and of relevant performance information. This ensures that the fund is investing in companies that are managing their environmental impacts effectively, and positioning their businesses for a world where these issues are ever more important.

Janus Henderson Global Sustainable Equity I A

To provide capital growth by investing primarily in a portfolio of global equities. The fund will seek to invest in global companies whose products and services are considered by the Investment Manager as contributing to positive environmental or social change and thereby have an impact on the development of a sustainable global economy. The fund will avoid investing in companies that the Investment Manager considers to potentially have a negative impact on the development of a sustainable global economy.

Negative

Alcohol Retail

The fund avoids companies which generate more than 10% of their turnover from the sale of alcohol.

Environment Climate & Fossil Fuels

The fund avoids companies generating high emissions of carbon dioxide, the main greenhouse gas, including the extraction, refining or distribution of fossil fuels except natural gas, oil exploration and distribution and fossil fuel power stations that use coal or oil.

Human Rights Violations

Oppressive Regimes - Companies are avoided if they have subsidiaries or associated interests which support the activities of oppressive regimes, or if they use forced labour.

Nuclear Power/Services

The fund avoids companies which are involved in the uranium fuel cycle, treat radioactive waste, or supply nuclear related equipment or services for constructing or running nuclear plant or facilities.

Tobacco Retail

The fund avoids companies that generate more than 10% of turnover from tobacco sales.

Positive

Animal Welfare Positive

The fund seeks:

  • Textiles - Companies developing alternative textiles to leather.

  • Vegetarian foods - Companies active in processing or retailing vegetarian foods.

Community Positive

The fund seeks:

  • Companies active in the community with programmes that may include staff secondment, support of Business in the Community, the Per Cent Club or charitable giving and fundraising.

  • Companies which actively promote the interests of customers and the public, such as those implementing audits for fair trade, and those which contribute to community activities.

Corporate Governance Positive

The fund seeks:

  • Corporate governance - Companies which demonstrate accountability to their investors and are seeking compliance with the recommendations of the Cadbury Committee on Corporate Governance.

  • Policy statements, audits and openness - Companies with clear policies and systems of accountability. For example, those that publish a statement of business ethics or code of conduct, or conduct social audits and make them publicly available, and respond fully to external enquiries.

Education and Knowledge Positive

The fund seeks companies supplying education or training services to enhance the quality of life and opportunity in the workplace.

Employees Positive

The fund seeks companies with good industrial relations records and policies that include, for example, measures to encourage employee participation, support for women and minorities, and employee share ownership plans; and companies which actively promote the interests of staff, such as through maternity/paternity leave, or counselling services.

Engagement Approach

Henderson engages with companies both to gain insight into their business, and to encourage improved management and disclosure of critical environmental, social and governance risks and opportunities. Engagement comprises meetings, telephone conversations and other correspondence with companies, with the majority of communication (around 80%) on environmental or social issues, and the remainder focused on governance-related matters. The outcomes of these engagement activities are subject to review by an independent SRI Advisory Committee.

Environment Climate Change

The fund seeks:

Energy conservation - Companies engaged in the supply of energy conservation services such as domestic or industrial insulation, or electronic energy efficiency devices.

  • Mass transit systems - Companies engaged in the provision of bus and rail services, or manufacture of bicycles, buses and trains.

  • Pollution monitoring/pollution control equipment - Companies engaged in the manufacture, supply or operation of pollution control equipment or monitoring devices.

  • Process control equipment - Companies engaged in the manufacture or supply of efficiency improvement devices that provide water, energy or materials savings.

  • Recycling services - Companies engaged in the collection and recycling of waste or which use a high proportion of recycled waste in their products.

  • Renewable energy - Companies involved in the generation of electricity from renewable resources such as wind, solar and hydro power.

Environment Management

The fund seeks companies that clearly outline and explain the environmental implications of their corporate strategy; those that have environmental management systems (such as EMAS); and companies which actively promote the interests of customers, for example those with eco-labelling of products and implementing audits of environmental performance.

Environment Technology

The fund seeks:

  • Energy conservation - Companies engaged in the supply of energy conservation services such as domestic or industrial insulation, or electronic energy efficiency devices.

  • Mass transit systems - Companies engaged in the provision of bus and rail services, or manufacture of bicycles, buses and trains.

  • Multimedia & telecommunications - Companies which are directly involved in transforming the use of information, communication or ways of working, including developments in the internet, CD-ROMS, tele-working and mobile telephony.

  • Pollution monitoring/pollution control equipment - Companies engaged in the manufacture, supply or operation of pollution control equipment or monitoring devices.

  • Process control equipment - Companies engaged in the manufacture or supply of efficiency improvement devices that provide water, energy or materials savings.

  • Recycling services - Companies engaged in the collection and recycling of waste or which use a high proportion of recycled waste in their products.

  • Renewable energy - Companies involved in the generation of electricity from renewable resources such as wind, solar and hydro power.

  • Water management - Companies involved in the protection and provision of water supplies, or provide water purification services or equipment.

Healthcare Positive

The fund seeks:

  • Healthcare services - Companies supplying medical equipment, nursing services, care for the elderly, or holistic therapies.

  • Health & safety equipment - Stricter legislation and corporate focus on employee safety has created a demand for equipment that minimises the risk of industrial accidents and improves workplace conditions, and the fund looks for companies supplying specialist equipment or devices that have a health, safety or environmental application.

Liontrust SF Absolute Growth

The Fund aims for long term capital growth and will invest in the shares of a broad range of companies from around the world, based on the fund manager's view of their long term return prospects. It will invest only in companies that meet our rules for environmental and social responsibility.

Negative

Alcohol Production

Excludes companies producing alcohol that do not have policies and practices to address responsible marketing, consumption and sale of their products.

Alcohol Retail

Excludes companies retailing alcohol that do not have policies and practices to address responsible marketing, consumption and sale of their products.

Animal Testing Non-Medical

Excludes companies that derive more than 10% of turnover from the provision of animal testing services. Also excludes companies that derive more than 10% of turnover from the manufacture of household products, cosmetics or cosmetic intermediates that are tested on animals, or from the retailing of own-brand cosmetics that are tested on animals, unless the company policies and programmes to minimise testing are considered good practice.

Animal Welfare (Fur)

Excludes companies that derive more than 10% of turnover from the fur trade.

Intensive Farming

Excludes companies that derive more 10% of turnover from intensive meat and fish farming.

Armaments

Excludes:

  • Companies that are major producers of full weapons systems or critical components of weapon systems. Major producers are defined as having more than 10% of turnover and/or more than £100m revenue from offensive weapons systems; and

  • Companies with confirmed involvement in the manufacture of anti-personnel mines or cluster munitions, or their critical components, as defined by the Ottawa Mine Ban Convention and the Oslo Convention on Cluster Munitions.

Environment Climate & Fossil Fuels

  • Excludes companies that derive >10% of turnover from the extraction and production of coal, oil, and natural gas;

  • Excludes companies that derive >10% of turnover from airlines and the manufacture of cars (unless they are specialized in making components that improve the efficiency or safety of cars) and trucks;

  • Excludes companies that derive >10% of turnover from the production of energy intensive materials unless they are making significant efforts and investment to make their processes more efficient and less energy intensive.

Gambling

Excludes companies that derive more than 10% of turnover from the management or ownership of gambling facilities.

Nuclear Power/Services

Companies that derive more than 10% of turnover from owning or operating nuclear power stations, unless the company has made significant investments (more than 10% generation capacity) in renewable energy, and does not have the option to divest their nuclear capacity;

  • Companies that derive more than 10% of turnover from the development or manufacture of non-safety related products for nuclear power plants; and

  • Companies that derive more than 10% of turnover from uranium mining or reprocessing of nuclear fuel.

Pornography

Excludes companies that derive more than 10% of turnover from the production or distribution of pornographic material; and companies that derive more than 10% of turnover from owning or operating adult establishments.

Tobacco Production

Excludes companies that derive more than 10% of turnover from the manufacture of tobacco products.

Tobacco Retail

Excludes companies that derive more than 10% of turnover from the sale of tobacco products.

Positive

Engagement Approach

The SRI Team aims to use its influence as a shareholder to promote good practice among the companies in which it invests, focusing on

areas where it believes improved management of social, environmental or governance issues will enhance or protect shareholder value.

This engagement activity is the key way in which it promotes more sustainable corporate behaviour and encourages the shift to a more sustainable economy.

Environment Climate Change Positive

The Sustainable Future investment process involves scoring companies on their business activities and approving those that meet an acceptable position in terms of the management of any adverse issues. Companies involved in environmental technology would be highly scored and therefore likely to be available for investment. For companies that derive more than 10% of turnover from the production of energy intensive materials and other high impact activities, the SRI Team would expect management to have introduced substantive steps to minimise greenhouse gas emissions.

Environment Management Positive

The Sustainable Future investment process involves scoring companies on their business activities and approving those that meet an acceptable position in terms of the management of any adverse issues. Companies with a positive environmental management approach score highly in this process and are likely to be available for investment.

Environment Technology Positive

The Sustainable Future investment process involves scoring companies on their business activities and approving those that meet an acceptable position in terms of the management of any adverse issues. Companies involved in environmental technology would be highly scored and therefore likely to be available for investment.

Health Positive

Quality of Life is one of the four main environmental, social and governance themes that the SRI Team applies in the process of generating investment ideas, and includes research and analysis of companies providing healthcare services and promoting healthy lifestyles. The Sustainable Future investment process involves scoring companies on their business activities and approving those that meet an acceptable position in terms of the management of any adverse issues. Companies involved in the provision of health services and related activities would score highly in this process and are likely to be available for investment.

Human Rights Positive

Companies operating in weak governance zones are encouraged by the SRI Team to demonstrate their commitment to the integration of human rights and international labour standards into business practices, and to put in place appropriate human rights and labour standards policies, systems and reporting.

Liontrust SF Corporate Bond

The Fund aims to provide a higher long term return than that provided by UK Government bonds. Although there is some potential for the value of the Fund to grow, over the long term most of the returns are likely to be in the form of income. Long term is generally regarded as 5 years or more.

Negative

Alcohol Production

Excludes companies producing alcohol that do not have policies and practices to address responsible marketing, consumption and sale of their products.

Alcohol Retail

Excludes companies retailing alcohol that do not have policies and practices to address responsible marketing, consumption and sale of their products.

Animal Testing Non-Medical

Excludes companies that derive more than 10% of turnover from the provision of animal testing services. Also excludes companies that derive more than 10% of turnover from the manufacture of household products, cosmetics or cosmetic intermediates that are tested on animals, or from the retailing of own-brand cosmetics that are tested on animals, unless the company policies and programmes to minimize testing are considered good practice.

Animal Welfare (Fur)

Excludes companies that derive more than 10% of turnover from the fur trade.

Intensive Farming

Excludes companies that derive more 10% of turnover from intensive meat and fish farming.

Armaments

Excludes:

  • Companies that are major producers of full weapons systems or critical components of weapon systems. Major producers are defined as having more than 10% of turnover and/or more than £100m revenue from offensive weapons systems; and

  • Companies with confirmed involvement in the manufacture of anti-personnel mines or cluster munitions, or their critical components, as defined by the Ottawa Mine Ban Convention and the Oslo Convention on Cluster Munitions.

Environment Climate & Fossil Fuels

Excludes companies that derive >10% of turnover from the extraction and production of coal, oil, and natural gas;

  • Excludes companies that derive >10% of turnover from airlines and the manufacture of cars (unless they are specialised in making components that improve the efficiency or safety of cars) and trucks;

  • Excludes companies that derive >10% of turnover from the production of energy intensive materials unless they are making significant efforts and investment to make their processes more efficient and less energy intensive.

Gambling

Excludes companies that derive more than 10% of turnover from the management or ownership of gambling facilities.

Human Rights Violation

With reference to international laws and standards including the International Labour Organisation's core conventions on child labour, equal opportunities, forced labour, freedom of association, and collective bargaining, the fund excludes companies judged by the SRI Team to be failing to address serious allegations of:

  • Violations of international human rights laws and standards including the OECD Guidelines for Multi-National Enterprises (2000) and the UN Global Compact (2000), among others; and

  • Breaches of labour standards such as those on child labour, forced labour, discrimination, union rights, working hours and health & safety.

Nuclear Power/Services

Excludes:

Companies that derive more than 10% of turnover from owning or operating nuclear power stations, unless the company has made significant investments (more than 10% generation capacity) in renewable energy, and does not have the option to divest their nuclear capacity;

  • Companies that derive more than 10% of turnover from the development or manufacture of non-safety related products for nuclear power plants; and

  • Companies that derive more than 10% of turnover from uranium mining or reprocessing of nuclear fuel.

Pornography

Excludes companies that derive more than 10% of turnover from the production or distribution of pornographic material; and companies that derive more than 10% of turnover from owning or operating adult establishments.

Tobacco Production

Excludes companies that derive more than 10% of turnover from the manufacture of tobacco products.

Tobacco Retail

Excludes companies that derive more than 10% of turnover from the sale of tobacco products.

Positive

Engagement Approach

The SRI Team aims to use its influence as a shareholder to promote good practice among the companies in which it invests, focusing on areas where it believes improved management of social, environmental or governance issues will enhance or protect shareholder value. This engagement activity is the key way in which it promotes more sustainable corporate behaviour and encourages the shift to a more sustainable economy.

Environment Climate Change Positive

The Sustainable Future investment process involves scoring companies on their business activities and approving those that meet an acceptable position in terms of the management of any adverse issues. Companies involved in environmental technology would be highly scored and therefore likely to be available for investment. For companies that derive more than 10% of turnover from the production of energy intensive materials and other high impact activities, the SRI Team would expect management to have introduced substantive steps to minimise greenhouse gas emissions.

Environment Management Positive

The Sustainable Future investment process involves scoring companies on their business activities and approving those that meet an acceptable position in terms of the management of any adverse issues. Companies with a positive environmental management approach score highly in this process and are likely to be available for investment.

Environment Technology Positive

The Sustainable Future investment process involves scoring companies on their business activities and approving those that meet an acceptable position in terms of the management of any adverse issues. Companies involved in environmental technology would be highly scored and therefore likely to be available for investment.

Health Positive

Quality of Life is one of the four main environmental, social and governance themes that the SRI Team applies in the process of generating investment ideas, and includes research and analysis of companies providing healthcare services and promoting healthy lifestyles. The Sustainable Future investment process involves scoring companies on their business activities and approving those that meet an acceptable position in terms of the management of any adverse issues. Companies involved in the provision of health services and related activities would score highly in this process and are likely to be available for investment.

Human Rights Positive

Companies operating in weak governance zones are encouraged by the SRI Team to demonstrate their commitment to the integration of human rights and international labour standards into business practices, and to put in place appropriate human rights and labour standards policies, systems and reporting.

Liontrust SF Global Growth 2 Acc

The Fund aims for long-term capital growth and will invest in the shares of a broad range of companies from around the world, based on the fund manager's view of their long term return prospects. It will invest only in companies that meet our rules for environmental and social responsibility.

Negative

Alcohol Production

Excludes companies producing alcohol that do not have policies and practices to address responsible marketing, consumption and sale of their products.

Alcohol Retail

Excludes companies retailing alcohol that do not have policies and practices to address responsible marketing, consumption and sale of their products.

Animal Testing Non-Medical

Excludes companies that derive more than 10% of turnover from the provision of animal testing services. Also excludes companies that derive more than 10% of turnover from the manufacture of household products, cosmetics or cosmetic intermediates that are tested on animals, or from the retailing of own-brand cosmetics that are tested on animals, unless the company policies and programs to minimize testing are considered good practice.

Animal Welfare (Fur)

Excludes companies that derive more than 10% of turnover from the fur trade.

Intensive Farming

Excludes companies that derive more 10% of turnover from intensive meat and fish farming.

Armaments

Excludes:

  • Companies that are major producers of full weapons systems or critical components of weapon systems. Major producers are defined as having more than 10% of turnover and/or more than £100m revenue from offensive weapons systems; and

  • Companies with confirmed involvement in the manufacture of anti-personnel mines or cluster munitions, or their critical components, as defined by the Ottawa Mine Ban Convention and the Oslo Convention on Cluster Munitions.

Environment Climate & Fossil Fuels

Excludes companies that derive >10% of turnover from the extraction and production of coal, oil, and natural gas;

  • Excludes companies that derive >10% of turnover from airlines and the manufacture of cars (unless they are specialised in making components that improve the efficiency or safety of cars) and trucks;

  • Excludes companies that derive >10% of turnover from the production of energy intensive materials unless they are making significant efforts and investment to make their processes more efficient and less energy intensive.

Gambling

Excludes companies that derive more than 10% of turnover from the management or ownership of gambling facilities.

Nuclear Power/Services

Excludes:

  • Companies that derive more than 10% of turnover from owning or operating nuclear power stations, unless the company has made significant investments (more than 10% generation capacity) in renewable energy, and does not have the option to divest their nuclear capacity;

  • Companies that derive more than 10% of turnover from the development or manufacture of non-safety related products for nuclear power plants; and

  • Companies that derive more than 10% of turnover from uranium mining or reprocessing of nuclear fuel.

Pornography

Excludes companies that derive more than 10% of turnover from the production or distribution of pornographic material; and companies that derive more than 10% of turnover from owning or operating adult establishments.

Tobacco Production

Excludes companies that derive more than 10% of turnover from the manufacture of tobacco products.

Tobacco Retail

Excludes companies that derive more than 10% of turnover from the sale of tobacco products.

Positive

Engagement Approach

The SRI Team aims to use its influence as a shareholder to promote good practice among the companies in which it invests, focusing on areas where it believes improved management of social, environmental or governance issues will enhance or protect shareholder value.

This engagement activity is the key way in which it promotes more sustainable corporate behaviour and encourages the shift to a more sustainable economy.

Environment Climate Change Positive

The Sustainable Future investment process involves scoring companies on their business activities and approving those that meet an acceptable position in terms of the management of any adverse issues. Companies involved in environmental technology would be highly scored and therefore likely to be available for investment. For companies that derive more than 10% of turnover from the production of energy intensive materials and other high impact activities, the SRI Team would expect management to have introduced substantive steps to minimise greenhouse gas emissions.

Environment Management Positive

The Sustainable Future investment process involves scoring companies on their business activities and approving those that meet an acceptable position in terms of the management of any adverse issues. Companies with a positive environmental management approach score highly in this process and are likely to be available for investment.

Environment Technology Positive

The Sustainable Future investment process involves scoring companies on their business activities and approving those that meet an acceptable position in terms of the management of any adverse issues. Companies involved in environmental technology would be highly scored and therefore likely to be available for investment.

Health Positive

Quality of Life is one of the four main environmental, social and governance themes that the SRI Team applies in the process of generating investment ideas, and includes research and analysis of companies providing healthcare services and promoting healthy lifestyles. The Sustainable Future investment process involves scoring companies on their business activities and approving those that meet an acceptable position in terms of the management of any adverse issues. Companies involved in the provision of health services and related activities would score highly in this process and are likely to be available for investment.

Human Rights Positive

Companies operating in weak governance zones are encouraged by the SRI Team to demonstrate their commitment to the integration of human rights and international labour standards into business practices, and to put in place appropriate human rights and labour standards policies, systems and reporting.

Liontrust SF UK Growth 2 Acc

The Fund aims for long term capital growth and will invest in the shares of a broad range of UK companies based on the fund manager's view of their long term return prospects. It will invest only in companies that meet our rules for environmental and social responsibility. 

Negative

Alcohol Production

Excludes companies producing alcohol that do not have policies and practices to address responsible marketing, consumption and sale of their products.

Alcohol Retail

Excludes companies retailing alcohol that do not have policies and practices to address responsible marketing, consumption and sale of their products.

Animal Testing Non-Medical

Excludes companies that derive more than 10% of turnover from the provision of animal testing services. Also excludes companies that derive more than 10% of turnover from the manufacture of household products, cosmetics or cosmetic intermediates that are tested on animals, or from the retailing of own-brand cosmetics that are tested on animals, unless the company policies and programmes to minimise testing are considered good practice.

Animal Welfare (Fur)

Excludes companies that derive more than 10% of turnover from the fur trade.

Intensive Farming

Excludes companies that derive more 10% of turnover from intensive meat and fish farming.

Armaments

Excludes:

  • Companies that are major producers of full weapons systems or critical components of weapon systems. Major producers are defined as having more than 10% of turnover and/or more than £100m revenue from offensive weapons systems; and

  • Companies with confirmed involvement in the manufacture of anti-personnel mines or cluster munitions, or their critical components, as defined by the Ottawa Mine Ban Convention and the Oslo Convention on Cluster Munitions.

Environment Climate & Fossil Fuels

  • Excludes companies that derive >10% of turnover from the extraction and production of coal, oil, and natural gas;

  • Excludes companies that derive >10% of turnover from airlines and the manufacture of cars (unless they are specialised in making components that improve the efficiency or safety of cars) and trucks;

Excludes companies that derive >10% of turnover from the production of energy intensive materials unless they are making significant efforts and investment to make their processes more efficient and less energy intensive.

Gambling

Excludes companies that derive more than 10% of turnover from the management or ownership of gambling facilities.

Nuclear Power/Services

Excludes:

  • Companies that derive more than 10% of turnover from owning or operating nuclear power stations, unless the company has made significant investments (more than 10% generation capacity) in renewable energy, and does not have the option to divest their nuclear capacity;

  • Companies that derive more than 10% of turnover from the development or manufacture of non-safety related products for nuclear power plants; and

· Companies that derive more than 10% of turnover from uranium mining or reprocessing of nuclear fuel.

Pornography

Excludes companies that derive more than 10% of turnover from the production or distribution of pornographic material; and

  • Companies that derive more than 10% of turnover from owning or operating adult establishments.

Tobacco Production

Excludes companies that derive more than 10% of turnover from the manufacture of tobacco products.

Tobacco Retail

Excludes companies that derive more than 10% of turnover from the sale of tobacco products.

Positive

Engagement Approach

The SRI Team aims to use its influence as a shareholder to promote good practice among the companies in which it invests, focusing on areas where it believes improved management of social, environmental or governance issues will enhance or protect shareholder value. This engagement activity is the key way in which it promotes more sustainable corporate behaviour and encourages the shift to a more sustainable economy.

Environment Climate Change Positive

The Sustainable Future investment process involves scoring companies on their business activities and approving those that meet an acceptable position in terms of the management of any adverse issues. Companies involved in environmental technology would be highly scored and therefore likely to be available for investment. For companies that derive more than 10% of turnover from the production of energy intensive materials and other high impact activities, the SRI Team would expect management to have introduced substantive steps to minimise greenhouse gas emissions.

Environment Management Positive

The Sustainable Future investment process involves scoring companies on their business activities and approving those that meet an acceptable position in terms of the management of any adverse issues. Companies with a positive environmental management approach score highly in this process and are likely to be available for investment.

Environment Technology Positive

The Sustainable Future investment process involves scoring companies on their business activities and approving those that meet an acceptable position in terms of the management of any adverse issues. Companies involved in environmental technology would be highly scored and therefore likely to be available for investment.

Health Positive

Quality of Life is one of the four main environmental, social and governance themes that the SRI Team applies in the process of generating investment ideas, and includes research and analysis of companies providing healthcare services and promoting healthy lifestyles.

Human Rights Positive

Companies operating in weak governance zones are encouraged by the SRI Team to demonstrate their commitment to the integration of human rights and international labour standards into business practices, and to put in place appropriate human rights and labour standards policies, systems and reporting.

Rathbone Ethical Corporate Bond I Acc

The objective of the fund is to provide a regular, above average income through investing in a range of bonds and bond market instruments that meet strict criteria ethically and financially.

Negative

Animal Testing Non-Medical

Excludes companies providing animal testing facilities, manufacturers or retailers not adopting a fixed cut-off date policy with regard to the testing of cosmetic or household products (and their ingredients) on animals.

Intensive Farming

Excludes companies involved in rearing or processing of animals for food without evidence of policy, management or reporting on farm animal welfare.

Armaments

Excludes manufacturers or vendors of strategic weapon systems, munitions or combat vehicles.

Human Rights Violation

Excludes companies involved in non-compliance with standards set by the International Labour Organization and United Nations Universal Declaration of Human Rights, including direct use of child, forced or bonded labour.

Positive

Community Positive

Companies should be involved in designing or manufacturing products that have social benefits and might include companies involved in enabling compliance with health & safety legislation. Companies should also demonstrate long-term giving programmes of benefit to the community, either via cash donations or gifts in kind (e.g. staff time, use of buildings or office facilities), membership of corporate giving benchmarking groups such as Business in the Community's PerCent Club or the London Benchmarking Group.

Education & Knowledge Positive

Companies should be involved in designing or manufacturing products that have social benefits. These might include companies engaged in supplying educational products or services.

Employees Positive

Companies should demonstrate a commitment to workplace diversity and equal opportunities, as well as facilitating employee work/life balance by offering flexible working arrangements, carers' leave and/or childcare facilities.

Environment Management Positive

Companies should have a clearly defined and published policy for managing their environmental impacts. The policy should include:

  • having a nominated board member with responsibility for environmental issues; and

  • monitoring and reporting on progress against key performance indicators (KPIs) in areas such as waste disposal and recycling, consumption of water and fuel, emissions to air, and discharges to land and water.

Environment Technology Positive

Companies should be involved in designing or manufacturing products that have environmental benefits. These might include companies which make industrial processes cleaner or more efficient; companies involved in waste recycling or acceptable forms of waste management; manufacturing, installing or operating renewable energy infrastructure; building or operating sustainable transport systems.

Human Rights Positive

Companies should comply with local and national standards in accordance with minimums set by the International Labour Organization (ILO) and United Nations Universal Declaration of Human Rights (UDHR). Alternatively, companies may implement their own codes of conduct to ensure compliance with local laws covering child labour, working conditions and health & safety.

Royal London Sustainable Leaders Trust C Acc

The investment objective of the fund is to provide capital growth from a diverse portfolio of equities, mainly in the United Kingdom and in any economic sector. Investment will be limited to companies which are likely to benefit from measures taken to improve the environment, human welfare and the quality of life.

Negative

Alcohol Production

The fund will avoid investment in companies which derive more than 10% of turnover from "irresponsible drinking".

Animal Testing Non-Medical

The fund will avoid investment in companies which derive more than 10% of turnover from "products tested on animals (other than for human or animal health)".

Animal Welfare (Fur)

The fund will avoid investment in companies which derive more than 10% of turnover from the sale of "animal fur products".

Armaments

The fund will avoid investment in companies involved in armaments manufacture.

Gambling

The fund will avoid investment in companies which derive more than 10% of turnover from "irresponsible gambling".

Tobacco Production

The fund will avoid investment in companies which derive more than 10% of turnover from the "production of tobacco".

Positive

Education & Knowledge Positive

The fund seeks to invest in companies involved with "education, training and employment, telecommunications and sustainable housing"

Engagement Approach

The Co-operative Investments' Ethical Strategy includes among its aims the championing of customers' values and expectations of corporate behaviour. The Ethical Engagement Policy underpins dialogue with companies on environmental, social and governance issues, to challenge those that lag behind in financial performance or are not sustainable. Engagement takes the form of letters, telephone dialogue and meetings with chief executives, investor relations managers and managers concerned with specific interests. Engagement is either conducted by the fund manager or is undertaken by the Responsible Investments Unit as part of broader initiatives. Through this Unit The Co-operative Investments collaborates with other investors on matters such as climate change and human rights. As signatories to the UN's Principles for Responsible Investment, The Co-operative Investments is able to use an engagement clearing house to identify global engagement initiatives, for example, co-signing letters to company management.

The Co-operative Investments is an active shareholder and has exercised its vote on every resolution at every general meeting of every company in which shares are held. Votes against arise when the resolution is inconsistent with The Co-operative Investments' guidelines, does not accord with best practice and is not in shareholders' long-term interests. If a stock is considered unsuitable for investment on the grounds of poor governance, environmental or social risk management, where these risks are considered to be financially material and it is not considered that new or additional engagement is likely to prove successful, on the instruction of an internal committee the Head of Equities will instruct an orderly divestment from the stock across all portfolios.

Environment Climate Change Positive

The fund seeks to invest in companies involved in renewable energy, new technologies, environmental products.

Environment Management Positive

Consideration is also given to companies seen to be making above-average efforts to minimise environmental damage caused by their activities.

Environment Technology Positive

The fund seeks to invest in companies involved in "renewable energy, new technologies, environmental products"

Health Positive

The fund seeks to invest in companies involved in health and safety related "pharmaceuticals and scientific & educational publishing products"

Royal London Sustainable mgd Growth Trust C Acc

The investment objective of the fund is to provide a total return by way of accumulated income, with some capital growth. Investments in the Scheme will adhere to the Manager’s ethical investment policy.

Negative

Alcohol Production

The fund will avoid investment in companies which derive more than 10% of turnover from "irresponsible drinking".

Animal Testing Non-Medical

The fund will avoid investment in companies which derive more than 10% of turnover from "products tested on animals (other than for human or animal health)".

Animal Welfare (Fur)

The fund will avoid investment in companies which derive more than 10% of turnover from the sale of "animal fur products".

Armaments

The fund will avoid investment in companies involved in armaments manufacture.

Gambling

The fund will avoid investment in companies which derive more than 10% of turnover from "irresponsible gambling".

Tobacco Production

The fund will avoid investment in companies which derive more than 10% of turnover from the "production of tobacco".

Positive

Education & Knowledge Positive

The fund seeks to invest in companies involved with "education, training and employment, telecommunications and sustainable housing"

Engagement Approach

The Co-operative Investments' Ethical Strategy includes among its aims the championing of customers' values and expectations of corporate behaviour. The Ethical Engagement Policy underpins dialogue with companies on environmental, social and governance issues, to challenge those that lag behind in financial performance or are not sustainable. Engagement takes the form of letters, telephone dialogue and meetings with chief executives, investor relations managers and managers concerned with specific interests. Engagement is either conducted by the fund manager or is undertaken by the Responsible Investments Unit as part of broader initiatives. Through this Unit The Co-operative Investments collaborates with other investors on matters such as climate change and human rights. As signatories to the UN's Principles for Responsible Investment, The Co-operative Investments is able to use an engagement clearing house to identify global engagement initiatives, for example, co-signing letters to company management.

The Co-operative Investments is an active shareholder and has exercised its vote on every resolution at every general meeting of every company in which shares are held. Votes against arise when the resolution is inconsistent with The Co-operative Investments' guidelines, does not accord with best practice and is not in shareholders' long-term interests. If a stock is considered unsuitable for investment on the grounds of poor governance, environmental or social risk management, where these risks are considered to be financially material and it is not considered that new or additional engagement is likely to prove successful, on the instruction of an internal committee the Head of Equities will instruct an orderly divestment from the stock across all portfolios.

Environment Climate Change Positive

The fund seeks to invest in companies involved in renewable energy, new technologies, environmental products.

Environment Management Positive

Consideration is also given to companies seen to be making above-average efforts to minimise environmental damage caused by their activities.

Environment Technology Positive

The fund seeks to invest in companies involved in "renewable energy, new technologies, environmental products"

Health Positive

The fund seeks to invest in companies involved in health and safety related "pharmaceuticals and scientific & educational publishing products"

Sarasin Responsible Global Equity

The Fund seeks to provide long-term growth and income through investment in the shares of companies from across the world with an overlay of ethical (socially responsible) criteria.

Negative

Alcohol Production

The fund avoids companies whose products are recognised as contributing to social harm, and will therefore not invest in companies that derive more than 5% of sales from production of alcoholic drinks unless they can demonstrate that they are applying minimum standards for socially responsible production and sale of alcohol.

Alcohol Retail

The fund avoids companies whose products are recognised as contributing to social harm, and will therefore not invest in companies that derive more than 5% of sales from the retailing of alcoholic drinks unless they can demonstrate that they are applying minimum standards for socially responsible production and sale of alcohol.

Armaments

The fund will not invest in companies involved in illegal weapons, such as cluster bombs, landmines biological & chemical weapons.

The fund avoids companies whose products are recognised as contributing to social harm, and will not invest in companies that derive more than 5% of sales from the production or sale of armaments.

Environment Climate & Fossil Fuels

The fund excludes companies that are materially involved in the extraction of thermal coal or the production of oil from tar sands.

Gambling

The fund will avoid companies whose products or services are recognised as contributing to social harm, and will therefore not invest in companies that derive more than 5% of sales from gambling.

Pornography

The fund will avoid companies whose products or services are recognised as contributing to social harm, and will not invest in companies that derive more than 5% of sales from the production or sale of pornography.

Tobacco Production

The fund avoids companies whose products or services are recognised as contributing to social harm, and will therefore not invest in companies that derive more than 5% of sales from the production of tobacco.

Tobacco Retail

The fund avoids companies whose products or services are recognised as contributing to social harm, and will therefore not invest in companies that derive more than 5% of sales from the retailing of tobacco.

Positive

Engagement Approach

The funds fulfil shareholder responsibilities and protect investment returns by applying an active voting policy to all resolutions and focusing engagement with companies whose performance poses significant investment risks or representational concerns.

Impax Asian Environmental Markets X GBP

The Fund’s investment objective is to generate long term capital growth from rapid and sustained growth anticipated by the Investment Manager in the markets for cleaner or more efficient delivery of basic services such as energy, water and waste in certain countries in the Asia Pacific Region. These countries are predominantly China, Hong Kong, Taiwan, Japan, South Korea, India, Australia, New Zealand, Singapore, Malaysia, the Philippines and Thailand.

Positive

Environment Climate Change

The Fund invests in companies active in environmental markets with at least 20% of the company's business derived from that area. The investable universe includes the following areas and technologies:

Alternative Energy & Energy Efficiency - wind power generation equipment, solar energy generation equipment, renewable energy developers and independent power producers, bio fuels. Power network, industrial, buildings, transport and consumer energy efficiency.

Environment Management

Invests in companies that provide, utilise, implement or advise upon technology-based systems, products or services in environmental markets. The nature of the fund also dictates that the type of companies invested in will be well aware of environmental issues and should, therefore, manage their impacts in line with the environmental nature of their business.

Environment Technology

Invests in companies active in environmental markets with at least 20% of the company's business derived from that area. The investable universe includes the following areas and technologies:

  • Alternative Energy & Energy Efficiency - wind power generation equipment, solar energy generation equipment, renewable energy developers and IPPs, biofuels. Power network, industrial, buildings, transport and consumer energy efficiency.

  • Water Technologies & Pollution Control - water infrastructure, treatment and utility companies. Companies focused on pollution control solutions and environmental testing/gas sensing.

  • Waste Technologies & Resource Management - waste technology equipment, recycling and value-added waste processing, hazardous and general waste management, environmental consultancies.

  • Sustainable Food, Agriculture and Forestry - sustainable and efficient agriculture, logistics, food safety and packaging, sustainable forestry and plantations.

Stewart Investors WW Sustainability B Acc GBP

The Fund aims to grow your investment. The Fund invests in shares of companies around the world. The Fund may invest in both developed and emerging market countries (countries that typically have lower than average income and standards of governance than developed markets). The Fund invests in companies which are positioned to benefit from, and contribute to, the sustainable development of the countries in which they operate. Investment decisions around sustainability are based on three key points: Identifying companies who manage sustainability risks and opportunities and those with a positive sustainability impact; Inclusion of environmental, social and corporate governance matters in investment research; Engaging directly with companies on identified sustainability issues.

Positive

Community Positive

The fund seeks out companies that provide the basic building blocks and service infrastructure society needs to function, develop and thrive. Such companies may be involved in the provision of water, energy, waste handling, housing, transportation and logistics, or in the provision of technologies that sustain these services within the limitations of ecosystems.

Corporate Governance Positive

The fund seeks out Responsible Finance companies that operate with trust and understand their license to operate. Specifically the fund looks for traditional savings and loans banks which focus on patiently gathering deposits and prudently lending them back to customers.

Engagement Approach

Every six months, the fund is screened by an external sustainability adviser against a series of internationally agreed sustainability standards for business, including the UN Human Rights Norms for Businesses and the UN Global Compact Principles. Companies are flagged using a traffic light system: green, amber (monitor/potential issue), red (engage/exit). In the case of a red flag the fund manager will commit to engage with the senior management of the company through written correspondence and/or one-on-one meetings. In conjunction

with the external sustainability adviser, a Positive Engagement Roadmap for the company will be designed, the completion of which will result in the red flag being removed. If engagement fails to progress sufficiently within a reasonable time period the fund manager will commit to exit the stock.

Environment Climate Change Positive

The fund manager will strive to identify and invest in a small number of high quality "sustainability innovators" which pass the fund's rigorous investment process. Sustainability innovators refers to those companies, whose business model is positioned to benefit directly from emerging sustainability opportunities and trends, including renewable energy, clean technology solutions, waste recycling, water and energy conservation.

Environment Technology Positive

The fund manager will strive to identify and invest in a small number of high quality "sustainability innovators" which pass the fund's rigorous investment process. Sustainability innovators refers to those companies, whose business model is positioned to benefit directly from emerging sustainability opportunities and trends, including renewable energy, clean technology solutions, waste recycling, water and energy conservation.

Health Positive

The fund seeks out companies that provide food, beverages and consumer staples that are positive for human health and hygiene, affordable medicines and life-saving treatments, and other products, technologies and services that contribute to economic development and human welfare and safety.

Baillie Gifford Positive Change B A

The objective is to produce capital growth over the long term.Investment will be primarily in equities of companies whose products or behaviour, in the ACD’s opinion, make a positive social impact. This will include companies addressing critical challenges in areas such as, but not limited to; education, social inclusion, healthcare and the environment. The Sub-fund may also be invested in other transferable securities, money market instruments, collective investment schemes, deposits, cash and near cash. The Sub-fund will be invested globally and the portfolio will be concentrated.Investments will be made following a process of fundamental business analysis by the Investment Advisor using its own research to identify companies where delivering a positive impact is core to their business and whose products or services represent an improvement to the status quo.

Positive

Community Positive

Invests in a portfolio which can deliver positive change in four areas including social inclusion and Base of the Pyramid (addressing the needs of the world's poorest population).

Education & Knowledge Positive

Invests in a portfolio which can deliver positive change in four areas including social inclusion and education.

Environment Technology Positive

Invests in a portfolio which can deliver positive change in four areas including environment and resource needs.

Health Positive

Invests in a portfolio which can deliver positive change in four areas including healthcare and quality of life.

Pictet Clean Energy I dy GBP

The sub-fund seeks capital growth by investing at least two-thirds of its total assets in the shares of companies worldwide that contribute to and benefit from the switch to lower-carbon energy sources. The sub-fund favours companies operating in the field of cleaner infrastructures and resources, carbon-reducing technologies and equipment, the generation, transmission and distribution of cleaner energy and energy efficiency.

Positive

Engagement Approach

Pictet has established a policy on proxy voting. This policy is based on widely accepted standards of best practice in corporate governance, with the interests of shareholders at its centre. The Fund also engages Hermes Equity Ownership Services, an external provider with a solid track record of fostering best practice in corporate governance, to engage with selected companies held in our environmental strategies.

Environment Climate Change Positive

The fund will invest to benefit from the transition to cleaner energy by targeting solutions aimed to mitigate climate change, energy supply issues and energy dependence concerns. Although the fund's investment strategy does not imply a use of positive ethical criteria, the approach is explicitly targeted at environmental technology and profits from the beneficial environmental effects.

Environment Technology Positive

The fund will invest to benefit from the transition to cleaner energy by targeting solutions aimed to mitigate climate change, energy supply issues and energy dependence concerns. Although the fund's investment strategy does not imply a use of positive ethical criteria, the approach is explicitly targeted at environmental technology and profits from the beneficial environmental effects.

Pictet Water I dy GBP

The sub-fund seeks capital growth by investing at least two-thirds of its total assets in the shares of companies operating in the water sector worldwide. The sub-fund favours companies operating in water supply, processing services, water technology and environmental services.

Positive

Engagement Approach

Pictet has established a policy on proxy voting. This policy is based on widely accepted standards of best practice in corporate governance, with the interests of shareholders at its centre. The Fund also engages Hermes Equity Ownership Services, an external provider with a solid track record of fostering best practice in corporate governance, to engage with selected companies held in our environmental strategies.

Environment Technology Positive

The fund focuses on companies operating in the water sector including supply and treatment services; and water technology and environmental services. Although the fund's investment strategy does not imply a use of positive ethical criteria, the approach includes investment in the clean water infrastructure, waste management and environmental services associated with the sector and profits from the beneficial environmental and social effects.

Kames Ethical Corporate Bond B Acc

Negative

Alcohol Production

The funds do not invest in companies that derive more than 10% of their total business through involvement in brewing or distillation of alcoholic drinks.

Alcohol Retail

The funds do not invest in companies that derive more than 10% of their total business through involvement in sale of alcoholic drinks.

Environment Negative Only

The fund will screen out those companies that are involved in activities which are commonly held to be environmentally unsound -specifically manufacturers of PVC, ozone depleting chemicals and hazardous pesticides; or are in breach of internationally recognised conventions on biodiversity; or are in energy intensive industries which are not tackling the issue of climate change.

Gambling

The funds do not invest in companies that have investments in betting shops, casinos or amusement arcades accounting for more than 10% of their total business.

Tobacco Production

The funds do not invest in companies that derive more than 10% of their business from the growing or processing of tobacco products.

Tobacco Retail

The funds do not invest in companies that derive more than 10% of their business from the sale of tobacco products.

Positive

No positive screening carried out by fund.