Erste AM-Rating for Responsible-Fonds
Average ESG-Rating and Exclusion Rate
The Average ESG Rating of the Fund refers to all securities actually held by the fund, whereas the the Average ESG Rating of the Fund Universe denotes the average of all securities that are rated for the fund, based on the stringent sustainability criteria of Erste Asset Management.
The Exclusion Rate indicates how many securities from the respective fund universe are rate “not investable” for the respective fund. For example, a 60% exclusion ratio means that only 40% of all potential securities are investable for the fund.
Erste AM-specific ESG Rating
The Erste AM-specific ESG Rating ranges from A+ to E. It scrutinises exclusively those companies that have already been rated by the three rating agencies cooperating with Erste Asset Management. In evaluating ESG criteria, Erste AM takes a very stringent approach. Thus, only 46 % of the approx. 3,850 companies currently rated (i.e. the Erste AM Total Universe) are investable (with a rating from A+ to C). At the moment, the average rating of the Erste AM Total Universe is C. The investable universe is further restricted by exclusion criteria. Eleven companies achieve our current top rating of B+.
The Erste AM Emerging Markets ESG Rating
The rating of ERSTE RESPONSIBLE BOND EMERGING CORPORATE hinges on the analysis of the management of the respective issuer via ESG risk factors on the basis of a model adapted for emerging markets. In the process, the companies are compared on a scale of AAA to C. Companies with environmental benefits are accounted for on the basis of criteria of exclusion.
All Data (Average ESG-Rating for Funds, the Funds Universe and the Exclusion Rate) per 31.08.2017