Climate Change High Yield Credit

Motivi per investire

Benefici per il pianeta

Il duplice obiettivo della strategia è quello di ottenere una solida performance finanziaria e un impatto ambientale positivo grazie alla decarbonizzazione.

Approccio flessibile e ad alta convinzione

Ricerchiamo società con fondamentali solidi, investendo in un'ampia gamma di aree geografiche, tipi di strumenti e curve di credito.

Misurazione del cambiamento climatico

Il nostro quadro proprietario di punteggio indica il progresso di una società verso la transizione a basse emissioni di carbonio.

Promozione dell'impatto climatico

L'engagement incoraggia le società a perseguire gli impegni di decarbonizzazione con potenziale di impatto positivo e significativo.

Esperienza di investimento

I principali membri del team di investimento lavorano insieme dal 2004 per offrire interessanti rendimenti sul credito ad alto rendimento.

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Overview

Miriamo a generare una sovraperformance e un impatto positivo attraverso investimenti ad alta convinzione in società con fondamentali solidi e con un potenziale di transizione verso un mondo a basse emissioni di carbonio.

Fraser Lundie, CFA

Head of Fixed Income - Public Markets

Perché scegliere Climate Change High Yield Credit?

Opportunità interessanti nell'high yield

Benefici per il pianeta

Exclusions

The strategy aims to outperform the global high-yield market through high-conviction investment in companies with strong fundamentals that also demonstrate the potential to decarbonise and transition to low-carbon world.

Cerchiamo società che si impegnino e abbiano la capacità di esercitare un impatto positivo sul pianeta. Gli investitori possono acquisire esposizione al mercato high yield e sostenere la transizione verso un’economia a basse emissioni di carbonio.

We have a series of exclusions that help the Strategy achieve its sustainable objectives. For more information please see the relevant offering documents.

Come investiamo

High-conviction process

We overlay our dynamic investment process with a proprietary process that determines the climate change credentials of companies for portfolio construction and position-sizing purposes. Our high-conviction and flexible approach targets companies with strong fundamentals to generate returns across geographies, instrument types and credit curves. Through our disciplined, bottom-up research, we aim to identify issuers with attractive investment profiles that are contributing to the decarbonisation of the wider economy.

Climate change measurement

To determine a company’s progress towards decarbonisation and the materiality of its impact, we begin by analysing an aggregate of historical climate change data and scores. We then supplement the forward-looking perspectives of our credit analysts and engagers, including engagement insights. This enables us to really assess each company’s climate-related risks and its progress towards decarbonisation and potential impact. Designed by the Sustainable Fixed Income team, our bespoke framework – the Climate Change Impact (CCI) Score – conveys a company’s willingness to decarbonise, the potential to reduce its carbon footprint and the materiality of that decarbonisation path. These scores are key to issuer selection and sizing within the strategy.

Active engagement to bring about change

We engage with companies to bring about a positive impact that supports the transition to a low-carbon future. Our dedicated engagers in the Fixed Income team, supported by EOS at Federated Hermes, a leading global stewardship team, seek positive action on climate change. We will not hold a company’s credit where engagement on climate change transition has failed.

Filosofia di investimento

I nostri due obiettivi sono di garantire:

Una solida performance finanziaria
Un impatto climatico positivo grazie alla decarbonizzazione

Riteniamo che questi obiettivi siano interconnessi e sinergici.

Processo di investimento

Taking a global universe and turning it into a high conviction portfolio

Screening

Company and security selection

Climate Change High Yield Credit-investment process-infographic

We begin with positive and negative screens. The negative screen excludes fossil fuels, tobacco, controversial weapons and companies in contravention of the principles of the UN Global Compact, as well as companies with a Climate Change Impact (CCI) score of 5. CCI scores measure a company’s decarbonisation in terms of progress and impact (the latter referring to the contribution the company makes to decarbonising the economy through its operations and products).

The positive screen selects innovators; companies with science-based targets; genuine transition stories encouraged by engagement and green bonds.

We assess the company fundamentals, scoring their operating, financial and ESG strengths based on analyst and engagement insight. Concurrently, our Sustainable Fixed Income team analyses the materiality of the company’s climate change agenda and assigns our CCI score.

Once we have established the company’s fundamentals and climate change agenda, we will identify which instrument within the capital structure it is best for us to use. Our analysts will produce a score for value.

Team

5998, 6082

Product information

For the latest performance and vital information – including prices, factsheets, key facts, identifiers and ratings

Ampia gamma di soluzioni

Stewardship di EOS

Climate Change
High Yield Credit

Miriamo ad un impatto climatico positivo e a generare una sovraperformance nel lungo termine.

Motivi per investire