Man Group Commits To Responsible Investing, Encourages Hedge Funds To Do The Same |
Date: Tuesday, January 31, 2012
Author: Alex Akesson, HedgeCo.Net
New York (HedgeCo.net) – Hedge fund gian Man Group plc announced today that it has signed the United Nations-backed Principles for Responsible Investment (PRI).
“This step is a signal of Man’s continued commitment to responsible investing.” Peter Clarke, Chief Executive of Man, said. As a leading alternative asset manager, we hope that by signing up to the UN PRI we will encourage others in the hedge fund industry to follow our lead.”
The PRI is a framework designed to encourage sustainable investing by incorporating environmental, social and governance issues into investment decision-making and ownership practices. Globally, there are 988 signatories, with 126 of these in the UK. Man is the largest UK-based manager of alternative assets to become a signatory.
“Investing sustainably enhances long-term value and reduces risk which is clearly good for all concerned: investment managers, their clients, society and the environment.” Pierre Lagrange, Executive Committee member of Man and Senior Managing Director of GLG, said. “GLG’s efforts predate today’s formal partnership with UN PRI: addressing the UN General Assembly in 2008 on sustainable investing, implementing technology to enable portfolio managers to make more informed investment decisions using ESG and launching a specific Global Sustainability Equity Fund, aimed at reconciling sustainability and economic returns. We are pleased to be able to commit to widening these efforts by signing up to the PRI.”
Some PRI objective that Man has taken on:
• Investing in technology and training to enable investment managers to take ESG
factors into account and encourage listed companies to improve on ESG criteria
• Running the GLG Global Sustainability Equity Fund and managing a climate
change strategy on behalf of Virgin Money Unit Trust Managers, both UCITS
long-only strategies
• Running an effective Corporate Responsibility programme, as judged by
inclusion in the Dow Jones Sustainability Index
• By being a signatory to the Carbon Disclosure Project and a member of the
FTSE4Good
• By support for independent academic teaching and research at the Oxford Man
Institute 2
• By supporting charities and local communities through the Man Charitable
Trust, as well as sponsorship of the Man Booker literary prizes
Principles for Responsible Investment
1. We will incorporate ESG issues into investment analysis and decision-making
processes.
2. We will be active owners and incorporate ESG issues into our ownership
policies and practices.
3. We will seek appropriate disclosure on ESG issues by the entities in which we
invest.
4. We will promote acceptance and implementation of the Principles within the
investment industry.
5. We will work together to enhance our effectiveness in implementing the
Principles.
6. We will each report on our activities and progress towards implementing the
Principles.
“Man’s support recognises our commitment to help advance the UN PRI agenda, and attests to the positive effects that normative, international frameworks like the PRI bring to the investment community.” Jason Mitchell, Portfolio Manager, GLG Global Sustainability Equity Fund said. “It also marks the next step in a process that began with our legacy in environmental funds, expanded into broader global sustainability themes and is driving our current work developing the application of sustainability across alternative strategies.”
Editing by Alex Akesson
For HedgeCo.net
alex@hedgeco.net
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