Sustainable
Our Expertise
fundamental equity
Regional
- World
SUSTAINABLE APPROACH
Norms-based: compliance with the UN Global Compact.
Controversies & exclusions:
- exclusion of gambling, armament, pornography & tobacco.
- exclusion of the most controversial companies.
Quantitative: exclusion of the 25% companies with the lowest ESG profile in their sector.
Qualitative: ESG criteria integrated into fundamental analysis.
INVESTMENT STRATEGY
- High-conviction, active portfolio-management approach.
- Investing worldwide in high-quality companies with proven business track record and sound business model.
- Potential investments should show positive earnings and dividends for at least 5 years.
- Top-down analysis of promising long-term market trends,taking into consideration all players in the value chain.
- Bottom-up, fundamental selection process supported by a team of 11 equity analysts.
- Final portfolio: 50 well-diversified stocks, optimally positioned to benefit from leading sustainable themes and stronger growth in emerging markets.
- Europe
SUSTAINABLE APPROACH
Norms-based: compliance with the UN Global Compact.
Controversies & exclusions:
- exclusion of gambling, armament, pornography & tobacco.
- exclusion of the most controversial companies.
Quantitative: exclusion of the 25% companies with the lowest ESG profile in their sector.
Qualitative: ESG criteria integrated into fundamental analysis.
INVESTMENT STRATEGY
- High-conviction, active portfolio-management approach.
- Investing in European high-quality companies with proven business track record and sound business model.
- Potential investments should show positive earnings and dividends for at least 5 years.
- Top-down analysis of promising long-term market trends, taking into consideration all players in the value chain.
- Bottom-up, fundamental selection process supported by a team of 11 equity analysts.
- Final portfolio: 50 well-diversified stocks, optimally positioned to benefit from leading sustainable themes.
Thematic
- Multi-Thematic
SUSTAINABLE APPROACH
Norms-based: compliance with the UN Global Compact.
Controversies & exclusions:
- exclusion of gambling, armament, pornography & tobacco.
- exclusion of the most controversial companies.
Qualitative: ESG criteria are integrated in the proprietary scorecard that is used to conclude the fundamental research process. The analysis includes DPAM’s internally-defined set of key sustainability indicators and engagement topics that are relevant to the different investment themes.
INVESTMENT STRATEGY
- High-conviction, active portfolio-management approach.
- Investing worldwide in highly-innovative and fast-growing companies, well-positioned to benefit from trends of the future. US and mid-cap bias.
- Potential investment should have a sound business model and sufficient liquidity and cash generation levels.
- Top-down analysis of investment themes of the futureconsiders all players in the value chain. Themes are part of the NEWGEMS acronym: Nanotechnology, Ecology, Wellbeing, Generation Z, E-society, Manufacturing 4.0 and Security.
- Bottom-up fundamental selection process ends with 70-80 well-diversified stocks.
- Agri-food
SUSTAINABLE APPROACH
Norms-based: compliance with the UN Global Compact.
Controversies & exclusions:
- exclusion of gambling, armament, pornography & tobacco.
- exclusion of the most controversial companies.
Qualitative: ESG criteria are integrated in the proprietary scorecard that is used to conclude the fundamental research process. The analysis includes DPAM’s internally-defined set of key sustainability indicators and engagement topics that are adapted to the different agri-foodstuff subthemes.
INVESTMENT STRATEGY
- High-conviction, active portfolio-management approach – Investing worldwide without benchmarking constraints in companies that are involved in the production-distribution chain of agri-foodstuffs and other related sectors.
- Top-down selection of subthemes and positions in the value chain is based on in-house fundamental research.
- Bottom-up stock picking seeks pure agri-food exposure and targets: +/- 35 well-diversified and attractively valued high-quality companies, well positioned in terms of financial expectations, growth potential and competitiveness.
Fixed income
Government
- Emerging countries
SUSTAINABLE APPROACH
Proprietary, quantitative sustainability-model for government bonds.
The model ranks emerging countries according to several comparable criteria from reliable sources. It includes progress made over time and considers criteria in five areas: i.e. transparency & democratic values, economics, environment, education & innovation and population health & wealth distribution.
Normative screening: compliance with the UN Global Compact.
Best-in-class approach: Investing min. 40% of AuM in the top quartile and max. 10% in the bottom quartile. Countries classified as “not free” and “authoritarian” are excluded from the fund.
INVESTMENT STRATEGY
- High-conviction, active portfolio-management approach without benchmarking constraints.
- Investing worldwide in government and supranational bonds from emerging countries, with a focus on local currencies (max. 30% hard currency) and without following minimum rating requirements (max. 30% non-rated).
- In-house fundamental analysis of market liquidity, relative valuation as well as economic, political, interest-rate and financial-health outlook. The fund will invest in a well-diversified, set of 25-30 countries (+/- 70 bonds) backed by strong risk management.
Sustainability country ranking report
- Developed countries
SUSTAINABLE APPROACH
Proprietary quantitative and dynamic-sustainability model for government bonds.
The model ranks OECD member states according to a list of sustainability criteria from reliable sources. It includes progress made over time and considers criteria in five areas: i.e. transparency & democratic values, economics, environment, education & innovation and population health & wealth distribution.
Normative screening: compliance with the UN Global Compact.
Best-in-class approach: Countries in the bottom half of the ranking are excluded from the universe. This results in a unique selection of countries with a sustainable positioning and a high-quality bias (on average AA-rated).
INVESTMENT STRATEGY
- High–conviction, active portfolio-management approach without benchmarking constraints.
- Investing globally in developed EUR-hedged government bonds from OECD countries with an attractive valuation and outlook.
- In-house fundamental analysis of the economic, political, interest rate and financial health outlook.
- Distinctive view in terms of duration, yield curve positioning and country and sector allocation.
- Final portfolio: a well-diversified, set of sustainable government bonds backed by strong risk management.
Sustainability country ranking report
Credit
- Investment Grade
SUSTAINABLE APPROACH
Norms-based: compliance with the UN Global Compact.
Controversies & exclusions:
- exclusion of gambling, armament, pornography & tobacco.
- exclusion of the most controversial companies.
Quantitative: exclusion of the 10% companies with the lowest ESG scores in their sector.
Qualitative: ESG criteria integrated into fundamental analysis.
INVESTMENT STRATEGY
- High-conviction, active portfolio-management approach.
- Investing globally in qualitative investment-grade EUR-denominated corporate bonds with an attractive valuation and outlook.
- In-house fundamental analysis of economic, political, interest rate and financial health outlook.
- Distinctive view in terms of duration, yield-curve positioning and country/sector allocation.
- Final portfolio: a well-diversified, set of approximately 300 securities, backed by strong risk management and well positioned to benefit from evolutions in the market.
Thematic
- Climate
SUSTAINABLE APPROACH
Norms-based: compliance with the UN Global Compact.
Controversies & exclusions:
- exclusion of gambling, armament, pornography & tobacco.
- exclusion of the most controversial companies.
Quantitative: exclusion of the 10% companies with the lowest ESG scores in their sector.
Qualitative: ESG criteria integrated into fundamental analysis/ Active voting policy engagement.
INVESTMENT STRATEGY
- Flexible, actively-managed, multi-sector bond portfolio with strong focus on risk diversification.
- General ESG screening and climate assessment. The universe includes Green bonds, ‘Climate enablers‘ and ‘Climate challengers’.
- In-house sustainability analysis, as well as fundamental bottom-up and macro-driven top-down analysis.
- Dynamic risk approach.
- Final portfolio: a well-diversified, set of approximately 70 securities, backed by strong risk management and well positioned to benefit from evolutions in the market.
Multi-Assets
Balanced
- Global Balanced Conservative
SUSTAINABLE APPROACH
Norms-based: compliance with the UN Global Compact.
Controversies & exclusions:
- exclusion of gambling, armament, pornography & tobacco.
- exclusion of the most controversial companies.
Quantitative: exclusion of the 25% companies with the lowest ESG scores in their sector and country. Best-in-class screening for countries.
Qualitative: ESG criteria integrated into fundamental analysis.
INVESTMENT STRATEGY
- High–conviction, active portfolio-management approach.
- Investing worldwide in equity, government bonds and IG corporate bonds with an attractive outlook and valuation.
- Distinctive top-down asset allocation across asset classes, countries, sectors and market drivers.
- Bottom-up individual stock picking axed on a buy-and-hold philosophy, supported by fundamental research of 18 expert analysts.
- Well-diversified, one-stop and all-weather investment solution for long-term value creation.
