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Winners List 2023
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Fund Awards 2023 – Winners List
MPF Awards 2023 – Winners List
HOME
AWARDS INFORMATION
Hong Kong & Singapore
Taiwan 台灣
Winners List 2023
Fund Awards 2023
MPF Awards 2023
PAST WINNERS
Fund Awards 2022 – Premier Hub
Fund Awards 2022 – Winners List
MPF Awards 2022 – Winners List
FORUM
Gatekeepers Forum
Sustainable Wealth Forum
ABOUT
About Benchmark
About BlueOnion
Contact Us
Fund Awards 2023 – Winners List
MPF Awards 2023 – Winners List
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Also apply this submission for other Stewardship Award entries
The Stewardship Award
recognizes sustainability leaders in the industry who embraces Responsible Investing and practice Active Ownership and integrate ESG into their ownership policies and practices while driving positive real-world goals.
Please name a flagship fund that best exemplifies your sustainable investment strategy.
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What is the Fund's ISIN Code?
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Pillar 1: ESG Commitment
1. Are you a Signatory/Member of the following sustainable programs?
Yes
No, we are not a signatory of any other similar initiatives, but we are in the process of applying to be a signatory of a responsible investing initiative/s
No, we are not a signatory of any other similar initiatives, but we are in the process of applying to be a signatory of a responsible investing initiative/s, but we plan to be a signatory to at least one responsible investing initiative within the next 12 months
No, we have no plans to become a signatory of any responsible investing initiatives in the near future
Other responses (please specify)
Selected: Yes - Please select relevant sustainable programs.
United Nations Sustainable Development Goals (UN SDG)
Principle Responsible Investment (PRI)
United Nations Global Compact (UNGC)
Carbon Disclosure Project (CDP)
United Nations Environment Programme Finance Initiative (UNEP FI)
Task Force on Climate-Related Financial Disclosures (TCFD)
Global Reporting Initiative (GRI)
Sustainability Accounting Standards Board (SASB)
International Integrated Reporting Council (IIRC)
Please specify.
2. Which ESG materiality framework are you currently using for benchmarking and/or using for reporting?
The Global Reporting Initiative (GRI)
The Sustainability Accounting Standards Board (SASB)
International Integrated Reporting Council (IIRC)
The Workforce Disclosure Initiative (WDI) ...
The Task Force on Climate-Related Financial Disclosures (TCFD)
The Climate Disclosure Standards Board (CDSB) SASB
EU Sustainable Finance Disclosure Regulation (SFDR)
SDG indicators
My local regulators' guideline
Others
Please specify.
3. When determining the materiality of ESG factors[v] [vi], does the strategy consider the following factors:
The extent to which the materiality issue influences the objectives of the investment product or the likelihood of achieving them
The extent to which the materiality issue affects the size and characteristics of the investment universe
The extent to which the materiality issue affects investment decisions or the investment process
The extent to which the materiality issue affects stewardship activities
The likelihood that the materiality issue would attract prospective investors with needs and preferences that differ from those of current investors
Whether the materiality issue triggers a local regulatory requirement, such as filing new documents, updating existing documents with a regulator, or providing new or updated disclosures to current investors
ESG factors affect a specific company and not the market as a whole
Sector/geographic risk affecting an entire industry or region, including regulatory and technological materiality issues associated with the business activity the company is involved in and/or to the markets it sources or sells to
Indirect exposure such as resource scarcity prompting a tightening monetary policy, poor liquidity could drive investment losses
ESG Materiality factors are not currently considered
Additional Remarks, if any (maximum 200 words)
4. What other factors does the firm consider material in the materiality framework, and how do you include all the key ESG risks and opportunities for each sector/country?
5. Firm-level Responsible Investment Policy: Our firm has a clear responsible investment policy set out to govern our organization's stewardship policy [iv]:
Key stewardship objectives
Prioritization approach of ESG factors and their link to engagement issues and targets
Prioritization approach depending on entity (e.g., company or government)
A specific approach to climate-related risks and opportunities
Stewardship tool usage across the organization, including tools that are out of scope and when and how different tools are used and by whom (e.g., specialist teams, investment teams, service providers, external investment managers, or similar)
Stewardship tool usage for specific internal teams (e.g., specialist teams, investment teams, or similar)
Stewardship tool usage for specific external teams (e.g., service providers, external investment managers, or similar)
Approach to collaboration on stewardship
Escalation strategies
Conflicts of interest
Details on how the stewardship policy is implemented and which elements are mandatory, including how and when the policy can be overruled
How stewardship efforts and results should be communicated across the organization to feed into investment decision-making and vice versa
None of the above elements are captured in our stewardship policy
Additional Remarks, if any (maximum 200 words)
6. Responsible Investment Policy Disclosure [iv]: Indicate which of your responsible investment policy elements are publicly available and provide links:
The overall approach to responsible investment
Guidelines on environmental factors
Guidelines on social factors
Guidelines on governance factors
Approach to stewardship
Approach to sustainability outcomes
Approach to exclusions
Asset class-specific guidelines that describe how ESG incorporation is implemented
Definition of responsible investment and how it relates to our fiduciary duty
Definition of responsible investment and how it relates to our investment objectives
Responsible investment governance structure
Internal reporting and verification related to responsible investment
External reporting related to responsible investment
Managing conflicts of interest related to responsible investment
Other responsible investment aspects not listed here
Our responsible investment policy elements are not publicly available
Additional Remarks, if any (maximum 200 words)
7a. ESG Ownership – Firm-wide: Who is the ultimate person driving responsible investing strategies for the firm?
Please select the closest answer:
The CIO
The investment committee
The CEO
Investment Analysts
Board Members
The Chief Risk Officer
The CFO, COO
A collective group of Portfolio Managers
A collective team of ESG specialists
No person or team, or group is ultimately responsible
We do not know the answer
7b. ESG Ownership – Strategy-wide: Who is the ultimate person driving responsible investing strategies for individual Fund/Strategy?
Please select the closest answer:
The CIO
The investment committee
The CEO
Investment Analysts
Board Members
The Chief Risk Officer
The CFO, COO
The lead portfolio manager/s of the respective strategy
Portfolio managers not directly managing the respective strategy
Research analysts directly supporting the respective strategy
Research analysts not supporting the respective strategy
The entire investment team
The investment committee
An individual or group other than the above
No person or team, or group is ultimately responsible
We do not know the answer
Additional Remarks, if any (maximum 250 words)
8. What percentage of your assets under management does your stewardship policy cover?
AUM coverage:
(A) Listed equity
Please enter a number from
0
to
100
.
(B) Fixed income
Please enter a number from
0
to
100
.
(C) Private equity
Please enter a number from
0
to
100
.
(D) Real estate
Please enter a number from
0
to
100
.
(E) Infrastructure
Please enter a number from
0
to
100
.
(F) Hedge funds
Please enter a number from
0
to
100
.
Pillar 2: Stewardship & Engagement
1. Firm-level Commitment to active engagement/stewardship. Please select the statement(s) that describe your approach to stewardship[i].
You may choose more than one statement where applicable:
We have a clearly articulated, explicit, publicly available policy/framework on investing responsibly across ALL our strategies, including non-ESG, non-SRI strategies
We do NOT yet have an explicit, clearly spelled out stewardship policy/framework/principle, but we are in the process of finalizing one within the next 12 months
We do NOT have an explicit stewardship policy/framework -- and do NOT have plans for one -- but we invest responsibly whenever possible across ALL our strategies, including non-ESG, non-SRI strategies
We invest responsibly ONLY in our ESG, SRI, and/or sustainable strategies. We do not practice responsible investing in other strategies
We are signatories to one or more stewardship principles, but we have no concrete plans to institute a stewardship policy/framework at our firm at the moment
We are not signatories to stewardship principles/codes; we have no stewardship policies, but we are keen to move in that direction within the next 1-2 years
We think stewardship is NOT suitable for our business model, and we have explained why to the relevant regulatory authorities and/or investors
We do NOT think stewardship is important to our firm at this time, and we do not feel it's necessary to explain why
Our firm does NOT have a position on stewardship
Additional remarks, if any (maximum 250 words)
2. Stewardship Activity: Engagement activities [iv] for equity investees have been undertaken on behalf of investors to put stewardship into effect. These activities include:
Participation in a shareholder meeting
Casting, abstaining, or withholding a vote on a management or shareholder resolution, on management or shareholder resolution
Filing a shareholder resolution
Commencement, continuation, modification, or discontinuation of an engagement with an investee company
Enforcement of covenants
Exercise of warrants or embedded options
Lending of securities
Taking a seat on the board of directors of an investee company, hiring, firing, and directing the management of an investee company
Maintenance and improvement of real estate and physical assets
Advocating for strong environmental, social, or governance practices
Stating a position or advocating for or against public policies or proposals that affect, or may affect, the investment product
Additional remarks, if any (maximum 250 words)
3. Stewardship Monitoring scope: Our stewardship for investees/potential investees monitoring scopes include the following:
On material[ii] environmental issues
On carbon footprint and exposures to climate risk
On material[ii] social issues
On material[ii] governance issues
On corporate culture and remuneration
On capital structure
On strategy
On overall material risks
On transparency
We do not currently monitor any of the above, BUT we have concrete[iii] plans to begin monitoring at least some of the above within the next 12 months
Do not do any of the above and have no concrete[iii] plans to do so
Additional remarks, if any (maximum 250 words)
4. Proxy Voting: At the product level, we have transparent proxy voting [iv] policies that are unique to this particular investment strategy:
Yes
We do not vote
We cannot/prefer not to divulge our voting practices
Additional remarks, if any (maximum 250 words)
Selected: Yes
We disclose that the portfolio managers undertake proxy voting for the investment product while investee engagements are handled at the organizational level
The firm's Proxy Voting Committee purely determines voting decisions
The firm's Proxy Voting Committee determines voting decisions in conjunction with input from the strategy teams and a third-party proxy advisor
All proxy votes are recorded and stored in our internal proxy voting and engagement system
When voting against management, the following issues are typically prioritized based on:
We may vote against management on an issue, and when the Proxy Voting Committee has voted against management on an issue:
Selected: When voting against management, the following issues are typically prioritized based on:
Their potential to affect a company's financial performance
Board independence
Accountability
Shareholder rights
Transparency
ESG reporting
Workplace health and safety issues
Environmental resource management issues that may increase the likelihood of regulatory fines or risks
Selected: We may vote against management on an issue, and when the Proxy Voting Committee has voted against management on an issue:
The engagement team initiates an engagement effort to discuss our specific concerns with management
We engage with companies to encourage best governance practices, including those related to reporting on material ESG information
An engagement effort will be initiated, and a file is created in our proxy voting and engagement system that includes the company name, the specific issue identified, the targeted outcome, and a copy of the initial written communication
An automatic alert for review of each individual engagement effort is put in place based on the recommended follow-up time frame
Engagement efforts and progress are tracked and reviewed on an ongoing basis by the engagement team
Continued engagement efforts are recommended per our engagement policy
All written communications and summaries of any meetings with company management are documented and maintained in the centralized internal database
The engagement team provides quarterly updates to portfolio managers and meets with them as needed
5. Voting Disclosure: Please select the statements that describe your firm's practices related to voting.
You may select more than one statement:
Our disclosure on voting is available to ALL investors, from retail to institutional asset owners, without them having to make a request, i.e., the disclosure is on our website or another electronically accessible venue
Our disclosure on voting is available ONLY to institutional asset owners, including family offices, without them having to make a request, i.e., the disclosure is electronically accessible to them
We disclose our votes and rationale ONLY if an investor asks for disclosure
In our disclosures, we explain in plain, clear, unambiguous language the rationale behind every vote
In our disclosures, we explain the rationale behind every vote, BUT we do not make an effort to present it in plain language, clear, unambiguous language
We do not currently disclose our votes and rationale, but we have concrete plans to do so within the next 12 months
We do not disclose and have no plans to disclose our voting
We do not vote
We cannot/prefer not to divulge our voting practices
Additional remarks, if any (maximum 250 words)
6. Engagement Commitment: Engagement policies [v] for fixed income issuers have been undertaken on behalf of investors to mitigate risks and enhance returns. These activities include:
We believe in effective bondholder engagement, and we have developed an engagement strategy and have embedded engagement in the investment process
Having a dedicated engagement team or integrated with ESG specialists and fixed income specialists working alongside
Prioritize engagement activity based on size and duration of holdings, credit quality, degree of transparency, the materiality of ESG risks and opportunities, and priority themes and issues, among other things
Using the bondholder's influence to engage with issuers throughout the issuance lifecycle, whether the debt is publicly issued or privately placed, to influence how an issuer addresses specific ESG risks or value creation opportunities
We collaborate with other bondholders on collaborative initiatives such as signing joint letters to companies, requesting support on upcoming shareholder resolutions, opportunities to join investor-company engagements, engaging regulators, policymakers, credit rating agencies, etc.
As bondholders, we have limited rights about our position in the capital structure. We do not have influence over and access to companies
We don't have an engagement policy for this strategy, and we have no such plans within the next 12 months
We are aware of our bondholders' rights and duties on bondholder engagement, and we are in the process of setting up a policy for implementation within the next 12 months
Additional remarks, if any (maximum 250 words)
7. Engagement Priorities[v]: Our engagement activity priorities for fixed income are based on one or more of the following criteria:
We seek dialogue with priority companies to manage more medium/long-term issues based on their analysis of potentially material ESG issues and megatrends
We initiate dialogue with companies in reaction to a recent downgrade, controversy or scandal which is presenting a financial and/or reputational risk
We prioritize the most significant holdings as they pose the greatest potential risk to portfolio performance
We prioritize issuers with less balance sheet flexibility (such as high-yield issuers) as they are typically less able to absorb an unexpected deterioration in their businesses due to material ESG risks
We focus on debt instrument types that are most exposed to selected ESG factors over a given timeframe; for instance, emissions-reducing regulatory targets will likely not impact three- and ten-year bonds in the same way
We focus on the quality of transparency of ESG, improving understanding of how an issuer is managing or plans to manage, ESG risks and value creation opportunities in the absence of comprehensive and comparable issuer disclosure
We engage over ESG issues that are most material for the specific market and/or sector, and our engagement discussions are on sustainability-related trends and uncertainties that are likely to affect the financial condition or operating performance of a company
We focus on those topics representing the highest value at risk or potential impact across issuers and sectors, such as low-carbon transition, water risks, labor practices, cybersecurity, anti-bribery and corruption, and corporate tax transparency
We share best practices and help issuers identify best practices they can refer to and communicate with peer companies that are lagging behind
We do not engage with our issuers on any of the above, BUT we have concrete plans to begin monitoring at least some of the above within the next 12 months
Do not do any of the above and have no concrete plans to do so
8. Please elaborate on the fund manager's areas of material concern; they include but are not limited to board governance and pay structure, ownership and control, environmental integrity, just to name a few possible issues. Please describe a showstopper during an engagement activity that resulted in an outcome of investment/divestment decisions?
9. Please describe your escalation strategy to trigger corporate reaction resulting from a dialogue that does not bring the desired outcome after a certain period. Possible next steps after an unsuccessful engagement can include:
Communicating with the board, collaborating with other investors
Collaborating with other investors to increase pressure on the company
Issuing a public statement and organizing a media campaign
Submitting shareholder resolutions concerning the ESG issues of concern
Voting against the re-election directors who are responsible for the topic of engagement
Voting against the board of directors or the annual financial report
Submitting one or more nominations for election to the board
Seeking legal remedies or arbitration
Threatening to reduce exposure or divest
Other strategies more than the above
Please explain the other strategies.
10. Engagement/Stewardship Team: A dedicated engagement team [iv] is set up to flag specific companies and issues for engagement which includes the undertakings below:
All written communications and meeting records, including targeted outcomes of the engagement, are logged in the engagement management system
Engagement is undertaken with the intent to improve a company's environmental and social resource management and to reduce risks related to environmental and social practices or activities
Engagement activities include in-person and virtual meetings, written correspondence, and emails
Engagement may occur with a company's board of directors, executive management, or investor relations and may be conducted independently or in collaboration with other investors through the fund's engagement service provider
The Fund's Engagement Team reviews progress toward each engagement effort quarterly against the targeted outcomes and determines next steps as needed
Seek feedback on the quality of the meeting and use it to improve subsequent engagements.
Use transparent evaluation methodologies to help guide dialogue with the target companies and measure progress made against set objectives
Ensure the efficient and effective sharing of information gained from engagements with all relevant investment team members
Set targets for the outcomes of the engagement and agree on time-bound goals with companies
Continue communication with companies to provide feedback on their progress against investor expectations
Additional remarks, if any (maximum 250 words)
11. Engagement frequency: Teamwide over the last 1 year, we have engaged with issuers/potential issuers on the material[ii] issues selected above:
Please include both collective engagement and engagement conducted on your own.
Once a year on average
Twice a year on average
Once a quarter on average
Once every two months on average
Once a month on average
More frequently than once a month on average
We currently have no engagement
Additional remarks, if any (maximum 250 words)
12. Engagement Disclosure: Do you disclose your key engagement activities, along with the outcomes, to investors?
Yes, we report on (ESG) outcomes of specific or general engagements to internal research teams' key stakeholders, including clients
Yes, we disclose in a separate report devoted to engagement (electronic or printed)
Yes, we disclose as part of scheduled reporting, such as factsheets and annual reports, etc
Yes, we disclose on our website, which is accessible to investors
Yes, we disclose but only when investors request for it
No, we do not currently disclose, but we have concrete[iii] plans within the next 12 months
No, we do not currently disclose and have no concrete[iii] plans to disclose
Additional remarks, if any (maximum 250 words)
Recommended attachments
- Responsible investing policies
- Stewardship policies
- Proxy voting policies
- Factsheet for the flagship fund
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