Sarasin IE Thematic Global Real Estate Equity

SRI Style:

Sustainable Style

SDR Labelling:

Not eligible to use label

Product:

OEIC

Fund Region:

Global

Fund Asset Type:

Property

Launch Date:

06/12/2004

Last Amended:

Jul 2025

Dialshifter ():

Fund Size:

£32.63m

(as at: 30/04/2025)

Total Screened Themed SRI Assets:

£1116.90m

(as at: 30/04/2025)

Total Assets Under Management:

£17192.00m

(as at: 31/03/2025)

ISIN:

IE00B7ZZ1K52, IE00B8G43R93, IE00BMFX1W61

Objectives:

The Fund seeks to provide long-term growth though investment in the shares of global real estate companies and global real estate investment trusts, which have an above average ESG profile when compared to other issuers in the global real estate sector.

 

Sustainable, Responsible
&/or ESG Overview:

The Fund provides global exposure to prime real estate through predominantly investing in Real Estate Investment Trusts (REITs) and other listed property companies around the world. It's a compelling option for the 'concerned' investor, as it sets a higher threshold on environmental, social and governance issues when making investment decisions.

We believe property securities that meet our ESG threshold are attractive investment vehicles for investors wishing to gain exposure to this asset class:

  • They provide cost and tax-efficient access to high-quality commercial real estate while offering liquidity.
  • They are often the only way to obtain exposure to properties in some of the best locations around the world (other than buying physical assets).

Companies that take seriously their responsibilities to their customers, staff, local communities, the environment, and their shareholders will, we believe, tend on average to outperform operationally those that do not over the long term.

Primary fund last amended:

Jul 2025

Information directly from fund manager.

Fund Filters

Sustainability - General
Sustainability policy

Funds that have policies that consider (environmental and social) sustainability issues. Strategies vary but are likely to consider environmental issues like climate change, carbon emissions, biodiversity loss, resource management, environmental impacts; and social issues like equal opportunities, human rights, labour standards, diversity and adherence to internationally recognised codes. See fund information.

Sustainability focus

Find funds which substantially focus on sustainability issues

Encourage more sustainable practices through stewardship

A core element of these funds aim to encourage higher sustainability standards across business practices through responsible ownership / stewardship / engagement / voting activity

Environmental - General
Environmental policy

Funds that have policies which relate to environmental issues. These will typically set out the fund's stance on issues such as pollution, climate change, resource management, biodiversity loss, carbon emissions, plastics and/or additional environmental impacts. Strategies vary. See fund information for further information.

Waste management policy or theme

Find funds that have a written policy or theme on waste management - typically a view to encouraging higher levels of recycling and better efficiency / reducing waste.

Plastics policy

Funds that are reviewing or encouraging companies to manage down the overuse of plastics (particularly single use, non-recyclable plastics). These funds will typically aim to encourage the use of alternative materials, but are unlikely to exclude companies purely on the basis of their use of plastics. Strategies vary. See fund information for further detail.

Nature & Biodiversity
Deforestation / palm oil policy

Find funds that have policies in place designed to ensure they do not invest in companies that are significantly involved in deforestation. This typically relates to palm oil plantations where biodiversity loss is a major concern (as well as other issues). Strategies vary. See fund information for further detail.

Illegal deforestation exclusion policy

Find funds that have policies in place explaining that they avoid companies involved in illegal and/or unsustainable deforestation. This may relate to palm oil, cattle farming or other concerns. Strategies vary. See fund information for further detail.

Climate Change & Energy
Climate change / greenhouse gas emissions policy

Funds that have policies (documented strategies that explain their position on) climate change related issues such as greenhouse gas/carbon emissions, net zero, transitioning to lower carbon. Strategies vary. Read fund details for further information.

Encourage transition to low carbon through stewardship activity

A core element of these funds will aim to encourage the transition to lower carbon activities through responsible ownership / stewardship / engagement / voting activity

Energy efficiency theme

Fund funds that have an energy efficiency theme - typically meaning that a fund manager is focused on investing in organisations that manage - or help others to manage - energy use more carefully and less wastefully - and so reduce greenhouse gas emissions.

Invests in clean energy / renewables

Funds that hold companies in the clean energy and renewable energy sectors (at the time research was supplied). Fund strategies vary, in particular the proportion of investment in these areas may vary significantly. Check fund literature for details.

Require net zero action plan from all/most companies

Find funds that require all, or almost all, of the companies it invests in to have a ‘net zero action plan’ - meaning that the companies they invest in have worked out how they will, over time, reduce their total carbon (and other greenhouse gas) emissions to nil.

TCFD reporting requirement (Becoming IFRS)

Will only invest in companies that report greenhouse gas emissions reduction strategies in line with the framework set out the by the Taskforce for Climate Related Financial Disclosure, which is increasingly becoming mandatory. See https://www.fsb-tcfd.org/ https ://www.ifrs.org/sustainability/tcfd/

Social / Employment
Social policy

Find funds that have policies which set out their approach to social issues (e.g. human rights, labour standards, equal opportunities, child labour and adherence to internationally recognised codes such as the UN Global Compact). Funds with social policies typically avoid companies with low standards or work to encourage higher standards. See fund information for detail.

Labour standards policy

Find funds that have a labour standards policy - which can be expected to mean that the fund will invest in / favour companies that have higher standards in this area - although fund strategies can vary significantly (as with all policy areas). See eg https://www.ilo.org/international-labour-standards

Favours companies with strong social policies

Find funds that invest in line with positive strategies that relate to 'people' issues - such as having strong human rights, labour standards and equal opportunities practices. Such funds are likely to invest in companies that have market leading standards with regard to employee and supplier practices. Read fund literature for further information.

Health & wellbeing policies or theme

Find funds with policies or themes that set out their approach to health and wellbeing issues. Funds of this kind typically aim to invest in companies with high standards - or encourage high standards. Themed funds are likely to have more of an emphasis on this area. Strategies vary. See fund information for further detail.

Ethical Values Led Exclusions
Ethical policies

Find funds that have policies that set out their position on ethical or 'personal values' based issues. Strategies vary. See fund information for further detail.

Tobacco and related product manufacturers excluded

Companies are excluded if they are involved in any aspect of the production chain for tobacco products, including cigarettes, vaping, e-cigarettes, chewing tobacco and cigars.

Tobacco and related products - avoid where revenue > 5%

Companies are excluded if they make more than 5% of their revenue from the manufacture, sale or distribution of tobacco products including cigarettes, vaping, e-cigarettes, chewing tobacco and cigars.

Controversial weapons exclusion

Find funds that exclude companies which make controversial weapons such as landmines, cluster munitions and chemical weapons. See fund literature for further information.

Armaments manufacturers avoided

Find funds that avoid companies that manufacture products intended specifically for military use. Fund strategies vary - particularly with regard to non-strategic military products. See fund literature for fund specific details.

Military involvement not excluded

Find funds that do not exclude companies with military contracts - this may include medical supplies, food, safety equioment, housing, etc. See fund literature for further information.

Human Rights
Human rights policy

Find funds that have policies relating to human rights issues. Funds of this kind typically require companies to demonstrate higher standards, although some fund managers work to encourage improvements. Investee companies are often judged against internationally agreed norms or standards. Strategies vary. See fund information for further detail.

Child labour exclusion

Find funds that have policies in place to ensure they do not invest in companies that employ children.

Responsible supply chain policy or theme

Find funds that have policies or a theme that relates to the responsible management of supply chains. These may relate to employment issues, notably people employed by their suppliers, as well as the sourcing of materials and products. See fund literature for further information.

Meeting Peoples' Basic Needs
Responsible food production or agriculture theme

Fund has a responsible food production or agriculture theme or strand of investment. Funds may have a single theme or many themes. See fund information.

Banking & Financials
Invests in financial instruments issued by banks

Finds funds that include financial instruments (cash, derivatives and / or foreign exchange) issued by banks. See fund literature for further information as strategies vary.

Exclude all or most insurance companies

Find funds that explicitly avoid investing in insurance companies, typically because of the organisations they insure. See fund literature for more information as strategies vary.

Governance & Management
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. Strategies vary. See fund literature for further information.

Avoids companies with poor governance

Find funds that aim to avoid investing in companies with poor governance practices.(e.g. board structure, management practices etc.) Views may however vary on what counts as 'poor' practices - and funds may not immediately divest as they may prefer to work to encourage higher standards. See fund literature for further information.

UN sanctions exclusion

Exclude companies that are subject to United Nations sanctions. See eg https://main.un.org/securitycouncil/en/content/un-sc-consolidated-list

Anti-bribery and corruption policy

Find funds that have policies explaining how managers will respond to assets / companies that do not comply with relevant anti-bribery and anti-corruption standards or laws. Strategies vary; options include stewardship/ engagement and divestment - or a combination. See fund literature for further information.

Digital / cyber security policy

Find funds that have policies explaining how the fund managers take into account digital/cyber security related risks. Funds with cyber policies will typically favour companies with higher standards or that are helping to solve problems - but strategies vary. See fund literature for further information.

Encourage board diversity e.g. gender

Fund managers encourage the companies they invest in to have more diverse board structures (e.g. more women on boards)

Encourage TCFD alignment for banks & insurance companies

Find fund managers that encourage the banks and insurance companies they invest in to publish climate change related financial information - as set out by the Task Force on Climate Related Financial Disclosures (with the aim of helping investors measure and respond to climate risk).

Encourage higher ESG standards through stewardship activity

A core element of these funds will aim to encourage higher ESG standards through responsible ownership / stewardship / engagement /voting activity

Fund Governance
ESG integration strategy

Find funds that factor in 'environmental, social and governance' issues as part of their investment decision making process. A focus on 'ESG' typically means a fund is carrying out additional research to help reduce ESG related risks. It does not necessarily mean a focus on sustainability. Strategies vary. See fund literature.

ESG factors included in Assessment of Value (AoV) report

Environmental, social and governance issues are part of this fund’s reporting of their ‘value’ to clients. AoV reporting is a statutory requirement. Including ESG factors in its calculation is not.

Impact Methodologies
Positive social impact theme

Find funds that specifically state that they aim to deliver positive social (i.e. people related) impacts and/or outcomes.

Invests in environmental solutions companies

Find funds that direct investment towards companies where a major part of their business is about solving environmental challenges. e.g. companies helping to address climate change.

Invests in social solutions companies

Find funds that invest in companies where a major part of their business is specifically aimed at helping to address social challenges. e.g. companies helping to address poverty.

How The Fund Works
Positive selection bias

Find funds that focus on finding and investing in companies with positive / beneficial attributes. This strategy can be applied in addition to exclusion criteria and engagement/stewardship activity.

Negative selection bias

Find funds where their main 'ethical approach' is to avoid companies by using negative screening criteria. Read fund literature for further information.

Combines ESG strategy with other SRI criteria

Find funds that have an ESG strategy (which is typically focused on avoiding companies that pose environmental, social or governance related risks) with additional criteria such as positive and/or negative screens, themes and stewardship strategies.

Balances company 'pros and cons' / best in sector

Find funds that consider both the 'positive' and 'negative' aspects of company behaviour and make balanced, considered decisions as part of their investment approach. May apply to a range of different issues and policy areas.

SRI / ESG / Ethical policies explained on website

Find funds that have published explanations of their ethical, social and/or environmental policies online (i.e. fund decision making strategies/ buy/sell &/or asset management strategies).

Do not use stock / securities lending

This fund does not use stock lending for performance or risk purposes.

Unscreened Assets & Cash
No ‘diversifiers’ used other than cash

Fund that only invest in cash to aid the practical management (buying and selling) of assets. These funds do not use additional financial instruments.

Intended Clients & Product Options
Intended for investors interested in sustainability

Finds funds designed to meet the needs of individual investors with an interest in sustainability issues.

Intended for clients interested in ethical issues

Find funds designed for clients who care about ethical and values-based issues, often alongside sustainability issues also.

Intended for clients who want to have a positive impact

Finds funds designed to meet the needs of individual investors with an interest in ‘Impact investment funds’ which help or support the delivery of positive social or environmental impacts (or societal/real world outcomes) by investing in companies they regard as beneficial to people and / or the planet. Strategies vary. See fund literature for further information.

Available via an ISA (OEIC only)

Find funds that are available via a tax efficient ISA product wrapper.

Bespoke SRI / ESG portfolios available (DFMs)

Only applicable for DFM’s & portfolio providers. Find service providers who offer bespoke ('personalised') SRI / ESG portfolio options

Fund Management Company Information

About The Business
Boutique / specialist fund management company

Find fund management companies that are smaller or specialise in particular areas - notably, ideally ESG related. Strategies vary.

Responsible ownership / stewardship policy or strategy (AFM company wide)

Finds fund management companies that have a published company wide stewardship, engagement and / or responsible ownership policy or strategy that covers all investments. Stewardship typically involves encouraging higher ESG standards through voting and dialogue.

ESG / SRI engagement (AFM company wide)

Find fund management companies that actively encourage higher 'environmental, social and governance' and/or 'sustainable and responsible investment' practices across investee companies - typically where the aim is to encourage positive change that is aligned with the best interests of investors. Strategies vary. See additional information and options.

Responsible ownership / ESG a key differentiator (AFM company wide)

Find fund managers that consider responsible ownership and ESG to be a key differentiator for their business.

Responsible ownership policy for non SRI funds (AFM company wide)

Find funds run by fund managers that apply Responsible ownership or 'Stewardship' policies to all or most of their investment assets. This means 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 (AFM) fund research

Find fund management companies that consider environmental, social and governance (ESG) issues when deciding whether or not to invest in a company for all / almost all of their funds and other assets. This is increasingly seen as part of sound risk management.

In-house diversity improvement programme (AFM company wide)

Finds organisations / fund managers that have an in-house (company wide) diversity improvement programme - meaning that they are working to ensure that within their own businesses they employ people from diverse backgrounds - often typically focused on ethnicity and/or sex.

Diversity, equality & inclusion engagement policy (AFM company wide)

Find fund management companies that encourage the companies they invest in to have strong diversity, race, gender and other equality policies across all assets held, not simply screened or themed SRI/ESG funds. (ie Asset Management company wide).

Collaborations & Affiliations
PRI signatory

Find fund management companies that have signed up to the UN backed 'Principles of Responsible Investment'.

Fund EcoMarket partner

Find fund management companies that have partnered with Fund EcoMarket - meaning that they are helping to improve access to information on sustainable and responsible investment by paying an annual fee to us which enables us to publish information for free. Partner funds are listed ahead of other funds and have their logos displayed.

Investment Association (IA) member

Fund management entity is a member of the Investment Association https://www.theia.org/

Resources
In-house responsible ownership / voting expertise

Find fund management companies that employ people to steer and support fund managers in voting shares at company AGM's and EGMs in ways that are consistent with encouraging higher ESG/sustainability standards.

Employ specialist ESG / SRI / sustainability researchers

Find a fund management company that directly employs specialist ESG/SRI/sustainability researchers or analysts. This allows asset managers to discuss environmental, social and governance risks and opportunities directly with companies.

Use specialist ESG / SRI / sustainability research companies

Find fund management companies that makes use of expert external research companies. This can help deliver specialist expertise and means resources are pooled with other investors.

ESG specialists on all investment desks (AFM company wide)

Finds organisations / fund managers that have one or more ESG/sustainability experts on all investment teams or 'desks' (all asset types)

Accreditations
PRI A+ rated (AFM company wide)

Finds organisations / fund managers that have an A+ PRI rating - meaning they are highly rated according to the 'Principles of Responsible Investment'

UK Stewardship Code signatory (AFM company wide)

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 like responsible, typically longer term 'company owners'.

Engagement Approach
Regularly lead collaborative ESG initiatives (AFM company wide)

Find fund management companies that regularly initiate or run industry wide (collaborative) investor projects aimed at raising environmental, social and governance standards amongst investee companies.

Encourage responsible corporate taxation (AFM company wide)

Find fund management companies that are working with the companies they invest in to encourage more responsible corporate taxation.

Engaging on climate change issues

Fund manager has stewardship /responsible ownership strategy that is focused on addressing climate change with investee assets.

Engaging to reduce plastics pollution / waste

Asset manager has stewardship /responsible ownership strategy with involves encouraging investee asset to reduce plastic waste and pollution.

Engaging to encourage responsible mining practices

Asset manager has a stewardship / responsible ownership policy that means they are working to encourage more responsible mining practices - where environmental and social issues are properly dealt with by the companies they invest in.

Engaging on biodiversity / nature issues

The asset manager has a responsible ownership / stewardship strategy that focuses on biodiversity and nature issues relating to the assets they invest the aim of which will be to reduce harm and or deliver improvement. Strategies vary. https://tnfd.global

Engaging to encourage a Just Transition

Asset manager has a responsible ownership / stewardship strategy which means they are working to encourage the shift to more sustainable business practices in ways that respect and are sensitive to social issues and the impact change has on people effected by the changes that are taking place. https://www.transitionpathwayinitiative.org/ https://transitiontaskforce.net/

Engaging on human rights issues

Asset manager has responsible ownership / stewardship strategy in place which aims to address human rights issues in investee companies (and potentially their suppliers) with the aim of raising standards

Engaging on labour / employment issues

Asset manager has responsible ownership / stewardship strategy in place that aims to improve labour standards for the benefit of employees in investee companies (and potentially their suppliers)

Engaging on diversity, equality and / or inclusion issues

Asset management company has a stewardship strategy in place which involves working to raise diversity, equality and inclusion standards across investee assets

Engaging to stop modern slavery

working with the assets they hold to help stamp out modern slavery - where direct or indirect company employees are exploited for business benefits.

Engaging on governance issues

Fund managers have stewardship strategies in place that focus on improving governance standards across investee assets

Engaging on responsible supply chain issues

Has a stewardship / responsible ownership strategy that encourages responsible supply chain - ie the managers will discuss environmental, social and governance issues with investee companies with the aim of raising standards

Engaging on the responsible use of AI

Working to address sustainability, ESG and related concerns around artificial intelligence.

Stewardship escalation policy

Escalation policies describe how a manager will proceed if stewardship / engagement activity is not successful in the short term.

Company Wide Exclusions
Controversial weapons avoidance policy (AFM company wide)

Find fund management companies (not funds) that avoid investment in 'controversial weapons' across all of their funds and other investment vehicles.

Tobacco avoidance policy (AFM company wide)

Find fund management companies that avoid investment in tobacco (manufacturing) companies across all their assets.

Fossil fuel exclusion policy (AFM company wide)

Find fund management companies that avoid investment in fossil fuel companies (e.g. coal, oil and gas) across all of their funds. (and/ or other assets.)

Do not invest in companies with fossil fuel reserves

Asset management company excludes companies with fossil fuel reserves across all assets/funds

Climate & Net Zero Transition
Net Zero commitment (AFM company wide)

Fund management organisations that have pledged to reduce their greenhouse gas emissions to ‘net zero’. Strategies vary - this area is changing rapidly.

Voting policy includes net zero targets (AFM company wide)

Fund manager AGM / EGM voting strategy has processes in place that mean they will normally be expected to vote in a way that will encourage the transition to net zero greenhouse gas emissions.

Net Zero - have set a Net Zero target date (AFM company wide)

This asset management company has set a date by which they plan to achieve net zero greenhouse gas / CO2e emissions.

Encourage carbon / greenhouse gas reduction (AFM company wide)

Find fund management companies that are working with the companies they invest in to encourage reductions in carbon dioxide and other greenhouse gas emissions.

Working towards a ‘Net Zero’ commitment (AFM company wide)

Finds organisations / fund management companies that are in the process of working out how to make a ‘net zero commitment’ - meaning that when that is finalised they will have started the process of reducing their total greenhouse gas emissions to'zero'.

Transparency
Publish responsible ownership / stewardship report (AFM company wide)

Find fund management companies that publish a report detailing their responsible investment ownership - also known as 'Stewardship' - activity.

Full SRI / responsible ownership policy information on company website

Find companies that publish information about their sustainable and responsible investment strategies on their company website.

Just Transition policy on website (AFM company wide)

This asset management company has published information on their website about the delivery of a 'just transition' - ie the delivery of the necessary shift to a sustainable future that takes full account of social implications - how change effects people. See eg https://www.unepfi.org/social-issues/just-transition/ or LSE Grantham

Publish full voting record (AFM company wide)

Fund management companies that publish a full record of how they vote their shares at AGMs (annual general meetings) and EGMs (extraordinary general meetings). Voting strategies have an important role to play encouraging higher environmental, social and governance standards.

Sustainability transition plan publicly available (AFM company wide)

This asset management company has published a plan that explains how they are to become a sustainable business - without significant negative environmental or social impacts.

Net Zero transition plan publicly available (AFM company wide)

This asset management company has published a plan that explains how they are going to achieve net zero greenhouse gas / CO2e emissions.

Dialshifter statement

Find fund management companies that have supplied Dialshifter information. See Dialshifter tab within record for more information.

Sustainable, Responsible &/or ESG Policy:

The Fund seeks to achieve long-term growth though investment in the shares of global real estate companies and the global real estate investment trust markets with an overlay of sustainable criteria. Sustainable research is undertaken on all real estate equities. This leads to many companies being excluded from the investible universe.

The main criteria for the assessment of sustainability are the risks and opportunities linked with an investment. For example, this may relate to social issues, products and production methods on one hand and the opportunities arising out of environmentally friendly and/or socially favourable products and technologies on the other hand.

The application of exclusion criteria and the best-of-class approach help avoid certain activities and industries with an unfavourable return/risk-profile. The best-in-class-approach helps us to identify companies which are not only lower risk but also better prepared/placed for a future (more sustainable) industry.

Process:

The sustainability analyst is responsible for interpreting information on the basis of a comprehensive list of criteria. The results are converted into scores and entered into a proprietary database (Sustainable Value Builder). It is then assessed using a numerical scoring system. The analyst conducts a plausibility check and refines it where required. Finally, there is a peer review. The scoring is then put into the Sarasin Sustainability Matrix®. The SRI criteria include the following:

  • Energy-efficiency (e.g. policy & goals, energy consumption/m2)
  • Responsible land use, in the face of increasing urbanisation and lack of urban green spaces
  • Sustainability of building materials, due to potential for environmental and health damages. Resource-efficient construction & maintenance (energy, water, waste)
  • Labour standards: the construction sector is a big employer of low-skilled labour and it needs to implement controls to guarantee minimum labour standards
  • Quality of living: real estate planners need to focus on the quality of living for the residents. Architectural concepts related to housing for the elderly / disabled etc.
  • Building flexibility in case requirements change in the future
  • Good connection to public transport infrastructure.

Data sources

The vast majority of our ESG analysis is proprietary analysis. We do use a range of providers to supplement this proprietary work, including MSCI, ISS as well as various ESG networks like ICGN, ACGA, alongside sell-side brokers and independent research input. All external data provided assists with our overall research process but in no way replaces or precludes the need for proprietary ESG and stewardship research. Our process is founded on the robustness and soundness of our own research prior to reliance on the data of third parties. For ethical screening, we use MSCI data. We also initiate, sponsor and participate in academic work and discussion to identify and investigate early opportunities, themes and trends.

We also utilise a company’s disclosures, external experts, non-governmental organisations, government publications and discussions. We also have access to the proprietary Sustainability Matrix®, developed and maintained by our parent company, Bank J. Safra Sarasin. It uses the quantitative and qualitative information available from multiple different sources, considering over 160 different questions. The matrix aggregates sustainability data from MSCI ESG, GMI, RepRisk and VigeoEiris. It is maintained by the Bank J Safra Sarasin sustainability team of 12 dedicated analysts, assessing and analysing the data that goes in and out of the matrix.

Resources, Affiliations & Corporate Strategies:

Internal Resources

No. All of our analysts and portfolio managers consider ESG factors when discussing stock ideas and building an investment case. Thus, we consider the entire team an ESG resource.

The stewardship specialists are directly responsible for engagement efforts, and work with the analysts to help them develop their ESG analysis and ratings for stocks.

Whilst the analysts own their ratings, this must be approved by the stewardship team to ensure joint accountability. It is important to note that our stewardship specialists are part of the global equity team, and are involved in team discussions and decisions.

We utilise our own framework and ratings systems to represent our proprietary ESG analysis. This analysis is bottom-up and driven by extensive primary research carried out by our analysts, supplemented with ESG data from MSCI, ISS and other sources.

Affiliations and Memberships

Sarasin & Partners has been an independent signatory of the United Nations Principles of Responsible Investing (UNPRI) since January 2012. In addition to the UNPRI, we are signatories to the UK Stewardship Code. We were accepted as a signatory of the Code first in September 2021, and subsequently confirmed as such in two subsequent years, 2022 and 2023, following a detailed annual stewardship report submitted to the Financial Reporting Council (FRC).

Memberships / initiatives are often the forum in which we work to improve ESG standards and taxonomy. We also carry out numerous engagement initiatives alongside some of these organisations, such as Climate Action 100+ for engagements on climate issues. We have provided a sample list directly below.

ENVIRONMENTAL

  • Net Zero Asset Managers Initiative (founding signatory)
  • Institutional Investors Group on Climate Change (IIGCC, part of GIC)
  • Task Force for Climate-related Financial Reporting
  • CDP (formerly Climate Disclosure Project)
  • Climate Action 100+
  • Ellen MacArthur Foundation Plastics Initiative
  • Plastic Solutions Investor Alliance (PSIA)

SOCIAL

  • 30% Group Investor Initiative
  • Workforce Disclosure Initiative (WDI)
  • Interfaith Center on Corporate Responsibility (ICCR)

GOVERNANCE

  • International Corporate Governance Network (ICGN) (Sarasin & Partners won the Investment Disclosure Aware for managers with <$60bn AUM, November 2021
  • Asian Corporate Governance Association (AGCA)
  • Council of Institutional Investors (CII)
  • Australian Council of Superannuation Investors (ACSI)
  • Corporate Reporting and Auditing Group, convened by the Investment Association
  • Investor Advisory Group of the Financial Reporting Council (FRC)
  • We also support The Local Authority Pension Fund Forum (LAPFF).

Many of these commitments provide us with a network of peers and supporters for key ESG related issues. It is important for us to remain engaged with group advocacy work, collaborative endeavours, such as engagements, but also to keep aware of best practice. Often, we find these networks to be useful sources of data and information either on a broad ESG related issue or on company specific metrics that may not be found in other sources. This information can be helpful to keep our investment process, which incorporates ESG analysis, focused on relevant issues and outcomes. 

While most our company engagements are pursued on our own, we will collaborate with other investors where we are seeking to escalate, often because of resistance from the board or executives. Often having a larger shareholding united on a matter of concern can be more impactful. Whenever we explore collaboration, we ensure the steps we take are consistent with local laws and regulations. In certain cases, these collaborations link into broader initiatives that we support, such as ICCR Covid-19 engagement; the Ellen MacArthur global commitment on recycling; or Climate Action 100+.

Dialshifter

This fund is helping to ‘shift the dial from brown to green’ by…

…through our belief that the most crucial way in which we as a firm can have an impact on sustainability is through our stewardship work with investee companies. Responsible investment has the power to deliver enduring value to clients in a way that benefits society. Equally, wealth creation at society’s expense is likely to be ephemeral.

Our approach has three tenets:

  • A robust, thematic, global investment process focused on long-term value drivers
  • Active engagement with companies and considered voting to drive positive change
  • Policy outreach where we believe we can play a positive role in shaping markets and regulation

SDR Labelling:

Not eligible to use label

Disclaimer

Important Information

This information is intended for professional investors only. Not for onward distribution.

Please note:  Fund/Portfolio Size, SRI Assets & AUM figures:  Source: Sarasin & Partners. The AUM data provided is for indicative purposes only and should not be relied upon as a definitive measure of the firm's assets under management. Refer to our latest financial statements for official figures.

This information has been issued by Sarasin & Partners LLP of Juxon House, 100 St Paul’s Churchyard, London, EC4M 8BU, a limited liability partnership registered in England and Wales with registered number OC329859, and which is authorised and regulated by the Financial Conduct Authority with firm reference number 475111.

This material has been prepared for marketing and information purposes only and is not a solicitation, or an offer to buy or sell any security. The information on which the material is based has been obtained in good faith, from sources that we believe to be reliable, but we have not independently verified such information and we make no representation or warranty, express or implied, as to its accuracy. All expressions of opinion are subject to change without notice.

This information should not be relied on for accounting, legal or tax advice, or investment recommendations. Reliance should not be placed on the views and information in this material when taking individual investment and/or strategic decisions.

The value of investments and any income derived from them can fall as well as rise and investors may not get back the amount originally invested. If investing in foreign currencies, the return in the investor’s reference currency may increase or decrease as a result of currency fluctuations. Past performance is not a reliable indicator of future results and may not be repeated. Forecasts are not a reliable indicator of future performance.

There is no minimum investment period, though we would recommend that you view your investment as a medium to long term one (i.e. 5 to 10 years).

Investments in the transferable securities of smaller companies may be less liquid than the securities of larger companies as a result of inadequate trading volume or restrictions on trading. Transferable securities in smaller companies may possess greater potential for capital appreciation, but also involve risks such as limited product lines, markets, financial or managerial resources, and trading in such securities may be subject to more abrupt price movements than trading in the securities of larger companies.

This Fund predominantly invests in one particular type of asset or industry, such as the digital sector, property or the agricultural sector. This focus may result in higher risk when comparing to a fund that has spread or diversified its investments more broadly.

Risks associated with investing in Real Estate Investment Trusts (REITs) include, but are not limited to, the following: declines in the value of real estate, risks related to general and local economic conditions, overbidding and increased competition, increases in property taxes and operating expenses, changes in zoning laws, casualty or condemnation losses, variations in rental income, changes in neighbourhood values, the appeal of properties to tenants, and increases in interest rates. In addition, REITs may be affected by changes in the value of the underlying property owned by the trusts or may be affected by the quality of credit extended. REITs are dependent upon management skills, may not be diversified and are subject to the risks of financing projects. The ability to trade REITs in the secondary market can be more limited than other stocks.

The Fund may invest in derivatives for efficient portfolio management purposes. This means Derivatives can only be used to manage the Fund more efficiently in an attempt to reduce the overall risk of its investments, reduce the costs of investing or generate additional capital or income, although this may not be achieved and may create losses greater than the cost of the derivative.

Neither Sarasin & Partners LLP nor any other member of the J. Safra Sarasin Holding Ltd group accepts any liability or responsibility whatsoever for any consequential loss of any kind arising out of the use of this information. The use of this information should not be regarded as a substitute for the exercise by the recipient of their own judgement. Sarasin & Partners LLP and/or any person connected with it may act upon or make use of the material referred to herein and/or any of the information upon which it is based, prior to publication of this information.

Where the data in this material comes partially from third-party sources the accuracy, completeness or correctness of the information contained in this publication is not guaranteed, and third-party data is provided without any warranties of any kind. Sarasin & Partners LLP shall have no liability in connection with third-party data.

© 2025 Sarasin & Partners LLP – all rights reserved. This information can only be distributed or reproduced with permission from Sarasin & Partners LLP. Please contact marketing@sarasin.co.uk.

Fund Name SRI Style SDR Labelling Product Region Asset Type Launch Date Last Amended

Sarasin IE Thematic Global Real Estate Equity

Sustainable Style Not eligible to use label OEIC Global Property 06/12/2004 Jul 2025

Objectives

The Fund seeks to provide long-term growth though investment in the shares of global real estate companies and global real estate investment trusts, which have an above average ESG profile when compared to other issuers in the global real estate sector.

 

Fund Size: £32.63m

(as at: 30/04/2025)

Total Screened Themed SRI Assets: £1116.90m

(as at: 30/04/2025)

Total Assets Under Management: £17192.00m

(as at: 31/03/2025)

ISIN: IE00B7ZZ1K52, IE00B8G43R93, IE00BMFX1W61

Contact Us: Christopher.cade@sarasin.co.uk

Sustainable, Responsible &/or ESG Overview

The Fund provides global exposure to prime real estate through predominantly investing in Real Estate Investment Trusts (REITs) and other listed property companies around the world. It's a compelling option for the 'concerned' investor, as it sets a higher threshold on environmental, social and governance issues when making investment decisions.

We believe property securities that meet our ESG threshold are attractive investment vehicles for investors wishing to gain exposure to this asset class:

  • They provide cost and tax-efficient access to high-quality commercial real estate while offering liquidity.
  • They are often the only way to obtain exposure to properties in some of the best locations around the world (other than buying physical assets).

Companies that take seriously their responsibilities to their customers, staff, local communities, the environment, and their shareholders will, we believe, tend on average to outperform operationally those that do not over the long term.

Primary fund last amended: Jul 2025

Information received directly from Fund Manager

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Nature & Biodiversity
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Ethical Values Led Exclusions
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Tobacco and related product manufacturers excluded

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Tobacco and related products - avoid where revenue > 5%

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Human Rights
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Meeting Peoples' Basic Needs
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Banking & Financials
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Exclude all or most insurance companies

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Governance & Management
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Encourage TCFD alignment for banks & insurance companies

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Fund Governance
ESG integration strategy

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ESG factors included in Assessment of Value (AoV) report

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Impact Methodologies
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How The Fund Works
Positive selection bias

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Do not use stock / securities lending

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Unscreened Assets & Cash
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Intended Clients & Product Options
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Available via an ISA (OEIC only)

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Bespoke SRI / ESG portfolios available (DFMs)

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Fund Management Company Information

About The Business
Boutique / specialist fund management company

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Responsible ownership / stewardship policy or strategy (AFM company wide)

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ESG / SRI engagement (AFM company wide)

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Responsible ownership policy for non SRI funds (AFM company wide)

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Integrates ESG factors into all / most (AFM) fund research

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In-house diversity improvement programme (AFM company wide)

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Diversity, equality & inclusion engagement policy (AFM company wide)

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Collaborations & Affiliations
PRI signatory

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Fund EcoMarket partner

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Investment Association (IA) member

Fund management entity is a member of the Investment Association https://www.theia.org/

Resources
In-house responsible ownership / voting expertise

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Employ specialist ESG / SRI / sustainability researchers

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Use specialist ESG / SRI / sustainability research companies

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ESG specialists on all investment desks (AFM company wide)

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Accreditations
PRI A+ rated (AFM company wide)

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UK Stewardship Code signatory (AFM company wide)

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Engagement Approach
Regularly lead collaborative ESG initiatives (AFM company wide)

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Encourage responsible corporate taxation (AFM company wide)

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Engaging on climate change issues

Fund manager has stewardship /responsible ownership strategy that is focused on addressing climate change with investee assets.

Engaging to reduce plastics pollution / waste

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Engaging to encourage responsible mining practices

Asset manager has a stewardship / responsible ownership policy that means they are working to encourage more responsible mining practices - where environmental and social issues are properly dealt with by the companies they invest in.

Engaging on biodiversity / nature issues

The asset manager has a responsible ownership / stewardship strategy that focuses on biodiversity and nature issues relating to the assets they invest the aim of which will be to reduce harm and or deliver improvement. Strategies vary. https://tnfd.global

Engaging to encourage a Just Transition

Asset manager has a responsible ownership / stewardship strategy which means they are working to encourage the shift to more sustainable business practices in ways that respect and are sensitive to social issues and the impact change has on people effected by the changes that are taking place. https://www.transitionpathwayinitiative.org/ https://transitiontaskforce.net/

Engaging on human rights issues

Asset manager has responsible ownership / stewardship strategy in place which aims to address human rights issues in investee companies (and potentially their suppliers) with the aim of raising standards

Engaging on labour / employment issues

Asset manager has responsible ownership / stewardship strategy in place that aims to improve labour standards for the benefit of employees in investee companies (and potentially their suppliers)

Engaging on diversity, equality and / or inclusion issues

Asset management company has a stewardship strategy in place which involves working to raise diversity, equality and inclusion standards across investee assets

Engaging to stop modern slavery

working with the assets they hold to help stamp out modern slavery - where direct or indirect company employees are exploited for business benefits.

Engaging on governance issues

Fund managers have stewardship strategies in place that focus on improving governance standards across investee assets

Engaging on responsible supply chain issues

Has a stewardship / responsible ownership strategy that encourages responsible supply chain - ie the managers will discuss environmental, social and governance issues with investee companies with the aim of raising standards

Engaging on the responsible use of AI

Working to address sustainability, ESG and related concerns around artificial intelligence.

Stewardship escalation policy

Escalation policies describe how a manager will proceed if stewardship / engagement activity is not successful in the short term.

Company Wide Exclusions
Controversial weapons avoidance policy (AFM company wide)

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Tobacco avoidance policy (AFM company wide)

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Fossil fuel exclusion policy (AFM company wide)

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Do not invest in companies with fossil fuel reserves

Asset management company excludes companies with fossil fuel reserves across all assets/funds

Climate & Net Zero Transition
Net Zero commitment (AFM company wide)

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Voting policy includes net zero targets (AFM company wide)

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Net Zero - have set a Net Zero target date (AFM company wide)

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Encourage carbon / greenhouse gas reduction (AFM company wide)

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Working towards a ‘Net Zero’ commitment (AFM company wide)

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Transparency
Publish responsible ownership / stewardship report (AFM company wide)

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Full SRI / responsible ownership policy information on company website

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Just Transition policy on website (AFM company wide)

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Publish full voting record (AFM company wide)

Fund management companies that publish a full record of how they vote their shares at AGMs (annual general meetings) and EGMs (extraordinary general meetings). Voting strategies have an important role to play encouraging higher environmental, social and governance standards.

Sustainability transition plan publicly available (AFM company wide)

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Net Zero transition plan publicly available (AFM company wide)

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Dialshifter statement

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Sustainable, Responsible &/or ESG Policy:

The Fund seeks to achieve long-term growth though investment in the shares of global real estate companies and the global real estate investment trust markets with an overlay of sustainable criteria. Sustainable research is undertaken on all real estate equities. This leads to many companies being excluded from the investible universe.

The main criteria for the assessment of sustainability are the risks and opportunities linked with an investment. For example, this may relate to social issues, products and production methods on one hand and the opportunities arising out of environmentally friendly and/or socially favourable products and technologies on the other hand.

The application of exclusion criteria and the best-of-class approach help avoid certain activities and industries with an unfavourable return/risk-profile. The best-in-class-approach helps us to identify companies which are not only lower risk but also better prepared/placed for a future (more sustainable) industry.

Process:

The sustainability analyst is responsible for interpreting information on the basis of a comprehensive list of criteria. The results are converted into scores and entered into a proprietary database (Sustainable Value Builder). It is then assessed using a numerical scoring system. The analyst conducts a plausibility check and refines it where required. Finally, there is a peer review. The scoring is then put into the Sarasin Sustainability Matrix®. The SRI criteria include the following:

  • Energy-efficiency (e.g. policy & goals, energy consumption/m2)
  • Responsible land use, in the face of increasing urbanisation and lack of urban green spaces
  • Sustainability of building materials, due to potential for environmental and health damages. Resource-efficient construction & maintenance (energy, water, waste)
  • Labour standards: the construction sector is a big employer of low-skilled labour and it needs to implement controls to guarantee minimum labour standards
  • Quality of living: real estate planners need to focus on the quality of living for the residents. Architectural concepts related to housing for the elderly / disabled etc.
  • Building flexibility in case requirements change in the future
  • Good connection to public transport infrastructure.

Data sources

The vast majority of our ESG analysis is proprietary analysis. We do use a range of providers to supplement this proprietary work, including MSCI, ISS as well as various ESG networks like ICGN, ACGA, alongside sell-side brokers and independent research input. All external data provided assists with our overall research process but in no way replaces or precludes the need for proprietary ESG and stewardship research. Our process is founded on the robustness and soundness of our own research prior to reliance on the data of third parties. For ethical screening, we use MSCI data. We also initiate, sponsor and participate in academic work and discussion to identify and investigate early opportunities, themes and trends.

We also utilise a company’s disclosures, external experts, non-governmental organisations, government publications and discussions. We also have access to the proprietary Sustainability Matrix®, developed and maintained by our parent company, Bank J. Safra Sarasin. It uses the quantitative and qualitative information available from multiple different sources, considering over 160 different questions. The matrix aggregates sustainability data from MSCI ESG, GMI, RepRisk and VigeoEiris. It is maintained by the Bank J Safra Sarasin sustainability team of 12 dedicated analysts, assessing and analysing the data that goes in and out of the matrix.

Resources, Affiliations & Corporate Strategies:

Internal Resources

No. All of our analysts and portfolio managers consider ESG factors when discussing stock ideas and building an investment case. Thus, we consider the entire team an ESG resource.

The stewardship specialists are directly responsible for engagement efforts, and work with the analysts to help them develop their ESG analysis and ratings for stocks.

Whilst the analysts own their ratings, this must be approved by the stewardship team to ensure joint accountability. It is important to note that our stewardship specialists are part of the global equity team, and are involved in team discussions and decisions.

We utilise our own framework and ratings systems to represent our proprietary ESG analysis. This analysis is bottom-up and driven by extensive primary research carried out by our analysts, supplemented with ESG data from MSCI, ISS and other sources.

Affiliations and Memberships

Sarasin & Partners has been an independent signatory of the United Nations Principles of Responsible Investing (UNPRI) since January 2012. In addition to the UNPRI, we are signatories to the UK Stewardship Code. We were accepted as a signatory of the Code first in September 2021, and subsequently confirmed as such in two subsequent years, 2022 and 2023, following a detailed annual stewardship report submitted to the Financial Reporting Council (FRC).

Memberships / initiatives are often the forum in which we work to improve ESG standards and taxonomy. We also carry out numerous engagement initiatives alongside some of these organisations, such as Climate Action 100+ for engagements on climate issues. We have provided a sample list directly below.

ENVIRONMENTAL

  • Net Zero Asset Managers Initiative (founding signatory)
  • Institutional Investors Group on Climate Change (IIGCC, part of GIC)
  • Task Force for Climate-related Financial Reporting
  • CDP (formerly Climate Disclosure Project)
  • Climate Action 100+
  • Ellen MacArthur Foundation Plastics Initiative
  • Plastic Solutions Investor Alliance (PSIA)

SOCIAL

  • 30% Group Investor Initiative
  • Workforce Disclosure Initiative (WDI)
  • Interfaith Center on Corporate Responsibility (ICCR)

GOVERNANCE

  • International Corporate Governance Network (ICGN) (Sarasin & Partners won the Investment Disclosure Aware for managers with <$60bn AUM, November 2021
  • Asian Corporate Governance Association (AGCA)
  • Council of Institutional Investors (CII)
  • Australian Council of Superannuation Investors (ACSI)
  • Corporate Reporting and Auditing Group, convened by the Investment Association
  • Investor Advisory Group of the Financial Reporting Council (FRC)
  • We also support The Local Authority Pension Fund Forum (LAPFF).

Many of these commitments provide us with a network of peers and supporters for key ESG related issues. It is important for us to remain engaged with group advocacy work, collaborative endeavours, such as engagements, but also to keep aware of best practice. Often, we find these networks to be useful sources of data and information either on a broad ESG related issue or on company specific metrics that may not be found in other sources. This information can be helpful to keep our investment process, which incorporates ESG analysis, focused on relevant issues and outcomes. 

While most our company engagements are pursued on our own, we will collaborate with other investors where we are seeking to escalate, often because of resistance from the board or executives. Often having a larger shareholding united on a matter of concern can be more impactful. Whenever we explore collaboration, we ensure the steps we take are consistent with local laws and regulations. In certain cases, these collaborations link into broader initiatives that we support, such as ICCR Covid-19 engagement; the Ellen MacArthur global commitment on recycling; or Climate Action 100+.

Dialshifter (Fund)

This fund is helping to ‘shift the dial from brown to green’ by…

…through our belief that the most crucial way in which we as a firm can have an impact on sustainability is through our stewardship work with investee companies. Responsible investment has the power to deliver enduring value to clients in a way that benefits society. Equally, wealth creation at society’s expense is likely to be ephemeral.

Our approach has three tenets:

  • A robust, thematic, global investment process focused on long-term value drivers
  • Active engagement with companies and considered voting to drive positive change
  • Policy outreach where we believe we can play a positive role in shaping markets and regulation

SDR Labelling:

Not eligible to use label

Disclaimer

Important Information

This information is intended for professional investors only. Not for onward distribution.

Please note:  Fund/Portfolio Size, SRI Assets & AUM figures:  Source: Sarasin & Partners. The AUM data provided is for indicative purposes only and should not be relied upon as a definitive measure of the firm's assets under management. Refer to our latest financial statements for official figures.

This information has been issued by Sarasin & Partners LLP of Juxon House, 100 St Paul’s Churchyard, London, EC4M 8BU, a limited liability partnership registered in England and Wales with registered number OC329859, and which is authorised and regulated by the Financial Conduct Authority with firm reference number 475111.

This material has been prepared for marketing and information purposes only and is not a solicitation, or an offer to buy or sell any security. The information on which the material is based has been obtained in good faith, from sources that we believe to be reliable, but we have not independently verified such information and we make no representation or warranty, express or implied, as to its accuracy. All expressions of opinion are subject to change without notice.

This information should not be relied on for accounting, legal or tax advice, or investment recommendations. Reliance should not be placed on the views and information in this material when taking individual investment and/or strategic decisions.

The value of investments and any income derived from them can fall as well as rise and investors may not get back the amount originally invested. If investing in foreign currencies, the return in the investor’s reference currency may increase or decrease as a result of currency fluctuations. Past performance is not a reliable indicator of future results and may not be repeated. Forecasts are not a reliable indicator of future performance.

There is no minimum investment period, though we would recommend that you view your investment as a medium to long term one (i.e. 5 to 10 years).

Investments in the transferable securities of smaller companies may be less liquid than the securities of larger companies as a result of inadequate trading volume or restrictions on trading. Transferable securities in smaller companies may possess greater potential for capital appreciation, but also involve risks such as limited product lines, markets, financial or managerial resources, and trading in such securities may be subject to more abrupt price movements than trading in the securities of larger companies.

This Fund predominantly invests in one particular type of asset or industry, such as the digital sector, property or the agricultural sector. This focus may result in higher risk when comparing to a fund that has spread or diversified its investments more broadly.

Risks associated with investing in Real Estate Investment Trusts (REITs) include, but are not limited to, the following: declines in the value of real estate, risks related to general and local economic conditions, overbidding and increased competition, increases in property taxes and operating expenses, changes in zoning laws, casualty or condemnation losses, variations in rental income, changes in neighbourhood values, the appeal of properties to tenants, and increases in interest rates. In addition, REITs may be affected by changes in the value of the underlying property owned by the trusts or may be affected by the quality of credit extended. REITs are dependent upon management skills, may not be diversified and are subject to the risks of financing projects. The ability to trade REITs in the secondary market can be more limited than other stocks.

The Fund may invest in derivatives for efficient portfolio management purposes. This means Derivatives can only be used to manage the Fund more efficiently in an attempt to reduce the overall risk of its investments, reduce the costs of investing or generate additional capital or income, although this may not be achieved and may create losses greater than the cost of the derivative.

Neither Sarasin & Partners LLP nor any other member of the J. Safra Sarasin Holding Ltd group accepts any liability or responsibility whatsoever for any consequential loss of any kind arising out of the use of this information. The use of this information should not be regarded as a substitute for the exercise by the recipient of their own judgement. Sarasin & Partners LLP and/or any person connected with it may act upon or make use of the material referred to herein and/or any of the information upon which it is based, prior to publication of this information.

Where the data in this material comes partially from third-party sources the accuracy, completeness or correctness of the information contained in this publication is not guaranteed, and third-party data is provided without any warranties of any kind. Sarasin & Partners LLP shall have no liability in connection with third-party data.

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