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At AlbaCore, we focus on the long-term. As one of Europe’s leading alternative credit specialists, we invest in private capital solutions, opportunistic and dislocated credit and structured products. 

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Specialist in Asia Pacific, Japan, China, India and South East Asia and Global Emerging Market equities.

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Our philosophy is very simple. We are constantly searching for high quality businesses and when we acquire them, we will work relentlessly with them to create long-term sustainable value through innovation, ESG-led and proactive asset management.

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Leader in active quantitative equities across Australian equities, global equities, emerging markets and global small companies.

Backed by a unique blend of research, portfolio construction and risk management, focused on uncovering original insights and translating them into investment strategies that are active and systematic, aiming to generate alpha.

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Specialists in equity portfolios in Asia Pacific, emerging markets, global and sustainable investment strategies

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Australain Equities Growth Responsible investment

Approach to responsible investment

Stewardship and ESG integration

ESG issues are fundamental to infrastructure companies, given they have significant service obligations and moral accountability to the communities in which they operate. We therefore believe it is important that ESG issues are fully integrated into the investment process.

We do not screen companies on ESG criteria, but seek to understand the risks and capture them in our proprietary quality ranking.

Integration 

ESG analysis is integrated into our investment process through our quality assessment and ranking model. This model consists of 25 criteria that influence stock returns in general and infrastructure securities in particular. A score is assigned to each criterion; a lower quality score makes it harder for a stock to be included within the overall portfolio. ESG criteria account for 24% of the overall quality score. 

Incorporating ESG considerations into the investment process in this way helps to inform our decisions of whether or not to hold shares in a specific company at any given point. 

Assessment and monitoring 

Infrastructure companies are assessed on a broad range of ESG-related factors and are relevant for every company we look at. Some notable examples include:

  • Environmental issues are key drivers for electric utilities, energy infrastructure (oil & gas pipelines & storage) and railways.
  • Social issues are particularly important to utility companies, as they have obligations to the communities where they provide essential services.
  • Governance issues are important performance drivers for all infrastructure stocks. Board composition and alignment of interests are considered to be particularly important, so they are rated separately in our ESG scoring process.

Engagement 

We look to positively influence companies towards ESG best-practice. Through company engagement, we seek to highlight areas for potential improvement, encourage disclosure on ESG issues, and commend companies that are making progress in this area. We typically engage companies on material issues to achieve specific outcomes, namely to ensure good ESG practices to help protect investor interests. 

Case studies

We believe that a strong commitment to stewardship is an essential component of a strong approach to responsible investment, and that embedding responsible investment into the core of our investment activities is in the best long-term interests of our clients. For more than a decade we have systematically and progressively improved our practices and processes across our investment capabilities globally.

Climate change

The section below provides addition, team specific, information on climate change. Further information on our approach to climate change can be found in our climate change statement.

Team Climate Change Statement

Key climate-related risks in our team’s portfolio

How we identify these risks

How we address these risks

The targets and objectives we have set

Carbon footprint

For more information, see our Carbon Footprint explainer


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Proxy voting

Proxy voting history by type of resolution

The table below contains the proxy voting history for the team by issue type. The chart provides the same information for FY2022.

Voting Independence 

The chart below shows the number of times the team has voted against management recommendations, proxy advisors' recommendations, or against both. The purpose of this table is to show the independent judgement which is applied by the team when making voting decisions.

Proxy voting by region

The chart below shows the number of times the team has voted in each region and the percentage of votes against management and our proxy advisors' recommendations, or against both. The purpose of this table is to show the regional difference in voting patterns and governance concerns. 

Proxy voting information is as at 31/12/2022
Source: First Sentier Investors / CGI Glass Lewis