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Aberdeen Multi Manager Ethical Portfolio Acc (OEIC/Unit Trust)

SRI Style: Ethically Balanced
Fund Type: OEIC/Unit Trust
Region: Global
Asset Type: Equity
Launch Date: 01/10/2012

SRI / Ethical Overview

The Fund invests 70% or more of its total net assets in collective investment schemes in any geographical area or sector which provide exposure to equity investments. The Manager chooses Funds which have an ethical, socially responsible or environmental consideration in their investment selection process.

 

SRI / themed / ethical assets under management – overview

  •  Fund Size (GBP):   66.6 m (30 April 2018)
  • Total value of SRI/ethical/environmental/ social/ environmental or sustainability themed funds:   Over 10 billion (31 March 2018)
  • Total value of assets covered by any additional ESG or responsible ownership policy:   490 billion (31 March 2018)
  • Total assets under management:   575.9 billion (31 March 2018)

 

SRI Policies (Primary strategy in bold)

  • Sustainability policy Find fund options that consider issues relating to the sustainability agenda (e.g. resource management, environmental impact, climate change and/or social issues such as equal opportunities, human rights and adherence to recognised codes). This will include funds from all of the different SRI Styles. See fund information for explanations of the different strategies.
  • Governance policy Find fund options that have policies that relate to corporate governance issues such as board structure, executive remuneration, bribery and/or corporate corruption. These funds will typically avoid companies with poor practices.
  • Armaments manufacturers avoided Find ethical fund (and other SRI) options that avoid avoids companies that manufacture products intended specifically for military use. Fund strategies vary - particularly with regard to non strategic military products. Read fund literature for specific details.
  • Alcohol production excluded This filter helps you to find ethical funds - and other options - that avoid investment in alcohol production. See fund literature for further information.
  • Pornography avoidance policy Find ethical fund option - and in some cases other options - that avoid companies that derive significant income from pornography. See fund details for further information.
  • Human rights Find funds that consider human rights practices when approving companies for investment. Such funds will require decent standards of human rights to be demonstrated - which typically means adherence to international norms as a minimum standard.
  • Child labour exclusion Find funds that have policies in place that ensure they do not invest in companies that employ children.

SRI Features

  • Sustainability themed Find funds where there is a significant emphasis on sustainability issues either as its primary strategy or as a core strategy that compliments other criteria. (This may apply to a number of different SRI Styles). Such funds will consider environmental and social issues when making stock selection decisions. Read fund literature for further information.
  • Aims to generate positive impacts Find funds that aim to help deliver positive social or environmental impacts or outcomes through their investment decisions - which typically involves holding companies that are viewed as being necessary or beneficial. Strategies and approaches vary. A small number of funds have recently started to measure outcomes (see 'Measures Impacts' in the Policy filter). This is a new area - so most funds do not do this yet. See fund literature for further information.
  • Available via an ISA Find funds that are available via a tax efficient ISA product wrapper
  • Responsible ownership / stewardship policy Find funds that have a policy that sets out what they do with regard to responsible investment ownership - also known as 'stewardship'. This typically relates to issues such as dialogue with companies and shareholder voting.
  • ESG integration strategy Find funds that factor in 'environmental, social and governance' issues as part of their investment decision making process. (These typically relate to improved risk management.)
  • Combines ESG strategy with other SRI criteria Find funds that have an ESG strategy (which is typically focuses on avoiding companies that post environmental, social or governance related risks) with additional criteria such as positive and/or negative screens or engagement/stewardship strategies.

Corporate Activity

  • ESG/SRI engagement Find funds and fund management companies that actively encourages higher 'environmental, social and governance' and/or 'sustainable and responsible investment' practices amongst investee companies - when positive change is aligned with the best interest of investors. This may apply to a single fund or a group of funds. Read fund literature for further information.
  • Responsible Ownership policy for non SRI funds Find funds run by fund managers that apply Responsible Ownership or 'Stewardship' policies to all or most of their investment assets. This means that active involvement (e.g. voting, dialogue) with the companies they invest in across funds (not normally limited to ethical or SRI options.) Read fund literature for further information.
  • Integrates ESG factors into all/most fund research Find fund management companies that research environmental, social and governance (ESG) issues when deciding whether or not to invest in a company. This typically applies to all funds, not only those which are promoted as being 'ethical' or 'SRI themed'. This is increasingly often used as a risk management tool.
  • Vote all* shares at AGMs/EGMs This fund manager votes or aims to vote all* the shares they own at Annual General Meetings and Extraordinary General Meetings. A commitment to voting shares is a key indicator of 'responsible share ownership' - where fund managers consider - and express their views on - the key business issues effecting the companies they part own. (*Allowance is made for exceptional situations such as when shares are in the process of being sold.)
  • In house responsible ownership/voting expertise Find fund / fund management companies where there is in-house expertise that enables the fund manager to make their own decisions on issues such as shareholder voting, setting of in-house guidelines - for example - particularly with regard to environmental, social and governance (ESG) issues.
  • Responsible Ownership/ESG a key differentiator The fund managers have said they consider this area to be a key differentiator for their business
  • UK Stewardship Code signatory Find fund managers that are signatories to the FRC UK Stewardship Code, which sets out a framework for constructive investor / investee relations where fund managers are encouraged to behave as responsible 'company owners'.
  • Publish Responsible Ownership/Stewardship report Find fund management companies that publish information on their approach to responsible investment ownership - also known as 'Stewardship' - following the introduction of 'the Stewardship Code'. This sets out their approach to voting, dialogue with company management and any related activity. This is publicly available.
  • Publish full voting record Find fund management companies that publishes a full record of how they vote at AGMs and EGMs. This information is publicly available.
  • Review(ing) carbon/fossil fuel exposure for all funds Find funds / fund managers that are reviewing or have reviewed their exposure to carbon intensive industries including (but not only) mining, oil and gas companies. This work is being carried out in the context of climate change related concerns, and may often reference international agreements.
  • Regularly lead collaborative ESG initiatives Find funds managed by fund management companies that regularly initiate or help run industry wide (collaborative) investor projects aimed at raising environmental, social and governance standards amongst investee companies.
  • PRI signatory Find fund management companies that have signed up to the UN backed 'Principles of Responsible Investment' initiative.
  • UKSIF member The fund management company is a member of UKSIF - the UK Sustainable Investment and Finance association
  • Climate Action 100+ or IIGCC member Involved in collaborative institutional investor initiatives that are encouraging companies to address climate change (ie reduce carbon emissions)
  • Encourage board diversity eg gender Fund managers encourage the companies they invest in to have more diverse board structures (eg more women on boards)
  • Encourage responsible corporate taxation Fund management company is working with the companies it invests in to encourage more responsible corporate taxation
  • Encourage carbon / GHG reduction The fund management company is working with the companies it invests in to encourage reductions of carbon dioxide and other greenhouse gas emissions.
  • Employ specialist ESG/SRI/sustainability researchers The fund management company directly employs specialist ESG/SRI/sustainability researchers or analysts
  • Use specialist ESG/SRI/sustainability research companies The company makes use of expert external research
  • In house carbon/GHG reduction policy The fund management company is working to reduce its own carbon/greenhouse gas emissions.
  • Full SRI policy information on company website All information that relates to the filter options that the fund manager has selected on this fund can be found on their company website

Links

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SRI / Ethical Policy

The Fund provides access to a global range of equity securities of companies worldwide which follow ethical or socially responsible standards in their corporate strategies through investment, predominantly, in other collective investment schemes. The Fund may also invest directly in such ethical or socially responsible companies and may also hold cash or cashlike investments. The Fund may appeal to investors seeking capital growth opportunities through equity investment in companies that meet ethical or socially responsible standards in their corporate strategies. The Fund is intended to be held by institutional and professional investors and by private investors and may be of interest to investors willing to accept a moderate level of risk. Potential investors in the Fund are advised to consult their professional investment advisers in respect of any investment decision in relation to the Fund.

 

The Fund is aimed at investors with a long-term investment horizon who will be able to hold the Fund for at least five years.

 

The underlying investment managers apply different types of screening depending on their investment process – as such there are no overriding negative screening criteria applied at the fund level. With that said, approximately half of the underlying managers in the fund employ a negative screen at the level of their investments which prohibit the fund either wholly or partially in taking exposure to controversial activities such as those listed below (note that every manager screen is different and as such not all activities are encompassed in every screen):

  • Alcoholic Beverages
  • Animal Testing
  • Environment
  • Gambling
  • Human Rights
  • Military involvement
  • Nuclear Energy
  • Pornography
  • Tobacco
  • Weapons

 

  • Alcoholic Beverages:   See above – negative screening applied at underlying fund level is manager dependant.
  • Animal Testing Excluding:  See above – negative screening applied at underlying fund level is manager dependant.
  • Gambling:   See above – negative screening applied at underlying fund level is manager dependant.
  • Human Rights:   See above – negative screening applied at underlying fund level is manager dependant.
  • Military Involvement:   See above – negative screening applied at underlying fund level is manager dependant.
  • Nuclear Energy:   See above – negative screening applied at underlying fund level is manager dependant.
  • Pornography:   See above – negative screening applied at underlying fund level is manager dependant.
  • Tobacco:   See above – negative screening applied at underlying fund level is manager dependant.
  • Weapons:   See above – negative screening applied at underlying fund level is manager dependant.

Resources, Affiliations & Corporate Strategies

Not applicable for this fund – it's a multi-manager portfolio

 

Please Note:

 

Aberdeen Standard Investments is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments.

Please note that the information in this document may be subject to change. This document, in part, describes some of the procedures and systems of internal management and control of Aberdeen Asset Managers Limited (AAML) that were in place at the time of writing. These are constantly under review, and therefore future systems of management and control within AAML may differ from those set out in this document. Opinions rendered on any particular economic scenario are solely opinions and are not meant to be construed as fact. Consequently, although this document is provided in good faith, it is not intended to create any legal liability on the part of AAML, and does not in any way vary the terms of any relevant investment management agreement. The statements contained in this paragraph do not affect AAML's obligation to its customers under the rules of the Financial Conduct Authority in the UK.

The past performance is not an indication of future results. The value of investments and the income from them can go down as well as up and investors may get back less than the amount invested.

Issued by Aberdeen Asset Managers Limited. Registered in Scotland. No SC108419. Registered Office: 10 Queen's Terrace, Aberdeen AB10 1YG. Authorised and regulated by the Financial Conduct Authority in the United Kingdom.

 

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