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Last amended date: Oct 2025
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About The Business
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Climate & Net Zero Transition
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Resources, Affiliations & Corporate Strategies:Internal research Our investment process is bottom-up and qualitative. While investment ideas are primarily driven by our proprietary research, we also draw on a wide variety of inputs from external providers (including NGOs, local focus groups, journalists and broker analysts that the team respects). We typically find that the research of traditional sell-side brokers is too short-term in its perspective. The investment team receives support from the Impact Communication and Engagement team (ICE) which has four interconnected areas of activity: content, engagement, research and strategic partnerships and company relationships. The investment team also receives support from First Sentier Group’s dedicated team of RI professionals who work with the Group’s investment teams to support the firm’s wider commitment to integrating ESG issues into investment decision-making and ownership practices External research Currently Sustainalytics and RepRisk (for controversy reporting) are our main external providers of ESG data - we use these services to validate our own in-depth analysis of companies. At the end of each quarter, portfolios are checked to ensure companies meet global norms for best practices and raise no exceptions against our thresholds for harmful activities. We also use ISS for carbon foot printing. In addition, we use Net Purpose for impact and company level climate change targets data. Dialshifter:Our organisation is helping to support the Paris Climate Agreement and the Race to Net Zero by… Putting in place our action plan on climate change which is focused on two primary areas: 1) how we allocate capital and 2) our engagement with investee companies, including our proxy voting decisions. We also:
We will remain focused on real-world outcomes. Our history of dedicated sustainable investing means our starting position for portfolio emissions is far below the broader economy. Currently, the aggregate scope 1 and 2 emissions of our investment strategies is around 80% lower than that of our strategies’ benchmarks. Climate success for the global economy should see that gap narrow, rather than grow. |
Internal research
All investment ideas are generated in-house. Everyone on the investment team is first and foremost an investment analyst. Portfolio managers are analysts with additional responsibilities. Every team member performs a broad ranging role and is encouraged to participate in the generation of ideas for all strategies.
Our investment process is bottom-up and qualitative. While investment ideas are primarily driven by our proprietary research, we also draw on a wide variety of inputs from external providers (including NGOs, local focus groups, journalists and broker analysts that the team respects). We typically find that the research of traditional sell-side brokers is too short-term in its perspective.
The investment team receives support from the Impact Communication and Engagement team (ICE) which has four interconnected areas of activity: content, engagement, research and strategic partnerships and company relationships. The investment team also receives support from First Sentier Group’s dedicated team of RI professionals who work with the Group’s investment teams to support the firm’s wider commitment to integrating ESG issues into investment decision-making and ownership practices
External research
Stewart Investors augment internal research by commissioning independent third-parties to complete bespoke research, often focused on a particular industry or a particular issue. Specialist third-party research is commissioned to deepen and broaden the team’s understanding of complex sustainability issues. Recent examples have included the sustainability of supply chains (soy, palm oil, and coffee), alternatives to soy, micro insurance, smallholder farming, gender diversity and inclusion, plastic and hazardous chemicals, accounting quality, living and minimum wage, retail pharmaceuticals, conflict minerals and industrial circularity. Third-party research helps to challenge and evolve the team’s thinking on sustainable development issues, emerging themes and the practices on companies relative to each other and versus industry best practice.
Currently Sustainalytics and RepRisk (for controversy reporting) are our main external providers of ESG data - we use these services to validate our own in-depth analysis of companies. At the end of each quarter, portfolios are checked to ensure companies meet global norms for best practices and raise no exceptions against our thresholds for harmful activities.
We also use ISS for carbon foot printing. In addition, we use Net Purpose for impact and company level climate change targets data.
Our organisation is helping to support the Paris Climate Agreement and the Race to Net Zero by…
Putting in place our action plan on climate change which is focused on two primary areas: 1) how we allocate capital and 2) our engagement with investee companies, including our proxy voting decisions.
We also:
- Support organisations who are better placed than we are to achieve meaningful change, for example, in the area of public policy
- Collaborate with investors and other stakeholders so we can learn and achieve shared climate objectives
- Continue to commission investment research and, where possible, share it with clients and companies for engagement purposes
- Reduce our own operational emissions and offset those we cannot eliminate.
We will remain focused on real-world outcomes. Our history of dedicated sustainable investing means our starting position for portfolio emissions is far below the broader economy. Currently, the aggregate scope 1 and 2 emissions of our investment strategies is around 80% lower than that of our strategies’ benchmarks. Climate success for the global economy should see that gap narrow, rather than grow.
Funds
Disclaimer
Important Information
This document has been prepared for informational purposes only and is only intended to provide a summary of the subject matter covered and does not purport to be comprehensive. The views expressed are the views of the writer at the time of issue and may change over time. It does not constitute investment advice and/or a recommendation and should not be used as the basis of any investment decision.
This document is not an offer document and does not constitute an offer or invitation or investment recommendation to distribute or purchase securities, shares, units or other interests or to enter into an investment agreement. No person should rely on the content and/or act on the basis of any material contained in this document.
This document is confidential and must not be copied, reproduced, circulated or transmitted, in whole or in part, and in any form or by any means without our prior written consent. The information contained within this document has been obtained from sources that we believe to be reliable and accurate at the time of issue but no representation or warranty, express or implied, is made as to the fairness, accuracy, or completeness of the information. We do not accept any liability whatsoever for any loss arising directly or indirectly from any use of this information.
References to "we" or "us" are references to First Sentier Group. Certain of our investment teams operate under the trading names First Sentier Investors, FSSA Investment Managers, Stewart Investors, Igneo Infrastructure Partners, RQI Investors and AlbaCore Capital Partners, all of which are part of the First Sentier Group. RQI branded strategies, investment products and services are not available in Germany In the EEA, issued by First Sentier Investors (Ireland) Limited which is authorised and regulated in Ireland by the Central Bank of Ireland (registered number C182306). Registered office: 70 Sir John Rogerson's Quay, Dublin 2, Ireland number 629188. In the UK, issued by First Sentier Investors (UK) Funds Limited which is authorised and regulated by the Financial Conduct Authority (registration number 143359). Registered office Finsbury Circus House, 15 Finsbury Circus, London, EC2M 7EB number 2294743. Outside the UK and the EEA, issued by First Sentier Investors International IM Limited which is authorised and regulated in the UK by the Financial Conduct Authority (registered number 122512). Registered office: 23 St. Andrew Square, Edinburgh, EH2 1BB number SC079063.
Certain funds referred to in this document are identified as sub-funds of First Sentier Investors Global Umbrella Fund plc, an umbrella investment company registered in Ireland ("VCC"). The distribution or purchase of shares in the funds or entering into an investment agreement with First Sentier Group, may be restricted in certain jurisdictions.
Further information is contained in the Prospectus and the relevant key information documents which are available free of charge by writing to: Client Services, First Sentier Group, 1 Grand Canal Square, Grand Canal Harbour, Dublin 2, Ireland or by telephoning +353 1 635 6798 between 9am and 5pm (Dublin time) Monday to Friday or by visiting www.firstsentierinvestors.com Telephone calls may be recorded.
In the EU: This document is a marketing communication. The fund(s) mentioned here may or may not be registered for marketing to investors in your location. If registered, marketing may cease or be terminated in accordance with the terms of the EU Cross Border Distribution Framework or at First Sentier Group's discretion. Copies of the prospectus (in English, French and German) and key information documents in English, German, French, Danish, Spanish, Swedish, Italian, Dutch, Norwegian, and Icelandic along with a summary of investor's rights are available free of charge at www.firstsentierinvestors.com
In the UK: The sub-funds of First Sentier Investors Global Umbrella Fund plc are authorised overseas but not in the UK. As a result, the UK Financial Ombudsman Service is unlikely to be able to consider complaints related to any fund, its operator or its depositary. Any claims for losses relating to the operator and the depositary are also unlikely to be covered by the UK Financial Services Compensation Scheme. Prospective investors should consider getting financial advice before deciding to invest and should see the fund prospectus for more information.
Representative and Paying Agent in Switzerland: The representative and paying agent in Switzerland is BNP Paribas Securities Services, Paris, Succursale de Zurich, Selnaustrasse 16, 8002 Zurich, Switzerland. The prospectus, key investor information documents, the instrument of incorporation as well as the annual and semi-annual reports may be obtained free of charge from the representative in Switzerland.
First Sentier Group entities referred to in this document are part of First Sentier Group, a member of Mitsubishi UFJ Group (MUFG), a global financial group. First Sentier Group includes a number of entities in different jurisdictions. MUFG and its subsidiaries do not guarantee the performance of any investment or entity referred to in this document or the repayment of capital. Any investments referred to are not deposits or other liabilities of MUFG or its subsidiaries, and are subject to investment risk including loss of income and capital invested.
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