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SDG Engagement High Yield Credit: H1 2021 report

Our focus on higher-quality credit in markets with strong engagement potential meant we didn’t benefit from the outsized rally in Covid-ravaged sectors in H1 2021, but the strategy continues to outperform its benchmark since inception

Past performance is not a reliable indicator of future performance.

We have been delighted both with our financial results and with the substantive, high-touch engagement outcomes of our inaugural engagement year.

The success and impact of the strategy has been bolstered by the greater intensity and breadth of our engagement activity in the first six months of 2021. At mid-year we had already engaged 105 of the 126 issuers held in our portfolio on a myriad of sustainable development goals (SDGs) and environmental, social and governance (ESG) topics.

As well as reviewing our investment and engagement activity over the first half of 2021 – including  the SDGs we have engaged on most intensively – this report delves into impact in the energy sector and the role of insurers in the fight against climate change.

More Insights

Inflation and supply chain disruption: Impact on corporate sectors
Inflation and supply chain disruptions, along with the moderating pace of the post-pandemic earnings recovery, have made us more cautious on corporate fundamentals as we enter Q3 reporting season
Japanese employment: engaging for greater equality – an update
A year has passed since we published a note exploring the long-standing issues around the under-representation of women within the Japanese labour force.
SDG Engagement High Yield Credit commentary: Intesa Sanpaolo
As Italy’s leading financial institution, the Intesa San Paolo Group (Intesa San Paolo) serves 13.5 million Italian customers through its 4,300 branches.
Lessons from the EU: Development of the UK’s green taxonomy
The UK is in a strong position to leverage the significant effort that has gone into creating the EU Taxonomy, whilst adapting the framework to suit the UK market where necessary
Global Equity ESG Fund: H1 Report, 2021
We continue to focus on the transition to a more sustainable economy, which we view as an exceptional market opportunity as awareness grows of sustainability issues and opportunities.
Direct lending: how senior is your debt?
Private credit is broadly described as non-bank lending where the debt is not issued or traded on public markets.