Funds Group: Fisher Investments
Management Company: Fisher Asset Management, LLC
Funds Affected: Fisher IIG ESG Fixed Inc for Retirement Plans, Fisher IIG ESG Stock Fund for Retirement Plans
Principal Sustainable Investment Management Strategy: ESG integration, negative screening (exclusions)
Summary:
The adviser considers ESG factors throughout the investment and portfolio construction process ESG factors are among the many drivers considered by the adviser when developing country, sector and thematic preferences. Governmental influence on public companies, environmental regulation, social policy, market reforms impacting private property, labor, and human rights are among the ESG factors considered when determining country and sector/industry allocations and shaping an initial prospect list of portfolio positions. The Adviser performs fundamental research on prospective investments to identify securities with strategic attributes consistent with the firm’s top-down views and with competitive advantages relative to their defined peer group. The fundamental research process involves reviewing and evaluating a range of ESG factors prior to purchasing a security, seeking to identify securities benefiting from ESG trends and avoid those with underappreciated risks. These factors include, but are not limited to, shareholder concentration, corporate stewardship, environmental opportunities and liabilities, and human or labor rights controversies.
Also, the fund seeks to narrow the security selection universe by applying comprehensive and robust ESG screens without compromising the adviser’s broader market outlook and themes. The adviser utilizes external third party ESG research and data which may include human environmental, and labor rights and controversy data. The adviser uses this information to create business involvement screens to exclude companies with ties to categories such as, but not limited to, cluster munitions or landmines, or those that derive any revenue from nuclear or bio-chemical weapons. Additionally, the adviser screens companies with significant revenue (generally 5% or greater, though the adviser may determine in its discretion what it believes is significant depending upon the factor and the company) from adult entertainment, alcohol, weapons or firearms, gambling, genetic engineering and tobacco.
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