How we invest responsibly | Kames Capital

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Sie können sich die aktuellen Prospekte, Konten, wichtige Hinweise für Anleger und Fondspreise unter https://www.fundinfo.com/de/home beschaffen. Wählen Sie bitte das Land aus, in dem Sie leben, und geben Sie sich als Privatanleger zu erkennen.

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  • How we invest responsibly

    We believe it is our responsibility to encourage companies to maximise investment returns through good governance practices, including respect for society and the environment. As a significant shareholder in many companies, we are well-placed to actively promote best-practice in environmental, social and governance (ESG) matters. Evidence suggests that companies which rank among the leaders in sustainability tend to outperform over the long term.

  • Introduction from Ryan Smith

    Ryan Smith

    Ryan Smith
    Head of ESG Research

    Kames Capital’s ESG Research team is responsible for our ethical research, corporate governance and engagement activities.

    We monitor material environmental, social and governance issues associated with the industries and companies in which we invest through a wide range of channels. A strong relationship exists between our corporate governance team and our fund managers and stock analysts, which enables material non-financial information to be incorporated into our investment processes.

  • Investing across asset classes 

    Icon - Fixed Income

    Fixed income

    We fully integrate ESG factors within our investment analysis and decision-making. Our fundamental bottom-up process is well-suited to identifying and considering ESG factors within fixed income portfolios. Environmental considerations have been a strong contributor to bond valuations in certain sectors, while governance is a key input to our fixed income process.

    Our investment process formally captures ESG factors within our analysis. This recognises mandate requirements and the structural differences and issues for fixed income.

    To ensure effective input on ESG matters, each area within our fixed income team has designated ESG champions; we split responsibilities by government markets, investment grade non-financials, financials and high yield bonds. Those inputting to our process are responsible for ensuring effective integration of ESG inputs to analysis and valuation discussions.

    Icon - Equities

    Equities

    We strive to identify and understand the key environmental, social and governance (ESG) risks for each of the companies, industries and sectors in which we invest. We recognise that stakeholder expectations about the role of corporations in society are changing and we believe we have wider responsibilities to encourage high standards in the companies we invest in.

    We believe that a company’s ESG performance is most appropriately considered within the context of its industry’s competitive landscape, in relation to its peers and the geographic regions in which it operates. An understanding of the ESG issues that a company faces therefore requires an in-depth knowledge of the sector in which it operates.

    Icon - Property

    Property

    We are a responsible property manager. We consider all environmental, social and governance factors when assessing new properties and managing existing assets.

    For new acquisitions our due diligence process assesses the validity and attractiveness of a property in offering a secure investment return for shareholders. Our Sustainability Risk Assessment considers:

    • The environmental performance of the property;
    • Alignment of interests with tenants; and
    • The regulatory landscape.

    We assess our current property portfolio through a structured gap analysis. For those properties which are not subject to full repair-and-insure lease  arrangements, we assess these against a set of regulatory and best practice requirements. We then rate and rank these opportunities based on their effective contribution to our sustainability objectives and vision.

    Icon - Multiassets

    Multi-Asset

    Our multi-asset funds blend a range of asset classes to meet the investment objectives and risk profiles of clients. These portfolios capitalise upon our proven capabilities in different asset classes, including fixed income, equities and property.

    Alternative investments such as renewable energy and solar power have become valuable components of our multi-asset funds. They not only provide attractive income and growth opportunities, but help to reduce portfolio risk owing to their relatively low correlation with traditional asset classes.

  • Corporate governance and engagement

    We systematically monitor the companies that we hold in our portfolios against established best practice for both corporate governance and broader environmental and social issues. Monitoring allows us to focus on specific, relevant issues for engagement. It also allows us to establish objectives for any engagement that we may subsequently undertake. Our ESG Research team collaborates with our fund managers and analysts to monitor and engage with companies. We regularly meet with both the executive and non-executive directors of many of the companies in which we invest. As a significant shareholder in many companies, we are well-placed to actively promote best-practice in environmental, social and governance matters, although this influence will often depend on the size of our shareholding.

  • Associations

    We are members of or subscribe to the following organisations and initiatives.

    FRC

    Financial Reporting Council (FRC)

    The Financial Reporting Council (FRC) promotes high standards of corporate governance in the UK. Kames Capital is a signatory to its Stewardship Code and each year we publish an annual statement to explain how we comply.

    In November 2016 the FRC published a review of nearly 300 asset management signatories to the Code, which it grouped into three tiers. Kames Capital was included in the group of tier 1 signatories for the quality and transparency of our disclosures.

    PRI

    Principles for Responsible Investment

    Kames Capital has been a signatory to the United-Nations-backed Principles for Responsible Investment since 2008.

    In their most recent survey of signatories, published in June 2016, Kames Capital was rated A+ for our overarching approach to responsible investment. This was the second consecutive year in which we have received the maximum possible rating, which was awarded to just 15% of signatories, and compares to the median rating of B.

    Kames Capital also received the maximum score for each of the 10 assessment categories covering our overarching approach to responsible investment, including the quality and disclosure of our policies; setting objectives and strategies; governance and resources; collaborative activities and our commitment to promoting responsible investment.

    GRESB

    Global Real Estate Sustainability Benchmark (GRESB)

    Three of our property funds have achieved Green Star Awards from the Global Real Estate Sustainability Benchmark (GRESB), the property industry’s leading benchmarking and assessment body.

    GRESB evaluates the environmental, social and governance credentials of real estate and infrastructure funds. In their 2016 benchmarking exercise, published in August, GRESB awarded the coveted Green Star to the Kames UK Active Value Property Unit Trust, the Kames Property Income Fund and the AEGON UK Property Fund.

    GRESB is an industry-driven organization committed to assessing the sustainability performance of real assets around the globe, including real estate portfolios (public, private and direct). On behalf of close to 60 institutional investors, GRESB has assessed almost 1,100 property companies and funds globally.

    CDP

    CDP

    CDP is a not-for-profit organisation that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts. Over the past 15 years CDP has created a system that has resulted in unparalleled engagement on environmental issues worldwide.

    EITI

    Extractive Industries Transparency Initiative (EITI)

    The Extractive Industries Transparency Initiative (EITI) is a global standard to promote open and accountable management of oil, gas and mineral resources. The Standard seeks to address the key governance issues of the oil, gas and mining sectors.

    UKSIF

    UK Sustainable Investment and Finance Association (UKSIF)

    The UK Sustainable Investment and Finance Association (UKSIF) is the membership association for sustainable and responsible financial services.

    UKSIF promotes responsible investment and other forms of finance that support sustainable economic development, enhance quality of life and safeguard the environment. It also seeks to ensure that individual and institutional investors can reflect their values in their investments.

    FTSE4Good

    FTSE4Good

    Our parent company Aegon NV has been included in the FTSE4Good Global Index since 2001. The FTSE4Good Index Series recognises the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices.