Fund Complex: Spouting Rock/Unified Series Trust
Management Company: Spouting Rock Asset Management LLC
Funds Affected: Spouting Rock Small Cap Growth Fund*
Sustainable Investing Strategy: ESG Integration, Negative Screening (exclusions)
Summary:
The adviser considers environmental, social and governance (“ESG”) issues in its investment and portfolio construction process. The adviser seeks to invest in companies with positive performance across ESG aspects. The factors the adviser may consider include environmental impacts (responsibility), societal standards (rights and relations), and corporate governance (transparency and accountability), among others, as evidence of meeting sustainable ESG goals. The adviser may also look to external sources to evaluate the ESG performance of a company. For example, the adviser may consider the holdings in the MSCI USA Small Cap ESG Leaders Index, or other ESG indices or ratings, to gauge how a company has been evaluated by third parties. The adviser makes value judgments and may not have full or sufficient data to fully evaluate ESG policies, practices or outcomes, and holdings may have poor performance in some ESG areas. The adviser seeks to avoid investing in companies that generate a significant portion of their revenues from: alcohol, tobacco, weapons, pornography, gambling, coal and coal fired utilities, as well as corrections facilities.
*Fund announced that it will be closing effective March 20, 2019.
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