Erste Asset Management

Responsible investment universe

Responsible investment universe
Responsible investment universe
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The definition of the investment universe is the most important step in the construction of a fund.

AdmittedMarch – May 2018

NIBC Bank N.V. (sector: Banks), EAM ESG rating 05/2018 of B-, is a Dutch bank that focuses on advisory, individually structured financing, and equity solutions. The client base is largely made up by SMEs, financial institutions, and institutional investors in Northern and Western Europe.

  • 😊 Signatory of Equator Principles (since 2010), a voluntary book of rules for banks to comply with environmental and social standards in the field of project finance
  • 😊 Strict and comprehensive environmental and social guidelines for credit checks and/or investment banking activities among business clients and public corporations
  • 😊Comprehensive sector-specific environmental and social credit guidelines
  • 😊Broad regime of work/life balance optimisation for employees

Sunrun Inc. (sector: Electrical Components & Equipment), EAM ESG rating 05/2018 of C+, is among the leading providers and installers of photovoltaic roof covering and storage systems in the USA.

  • 😊 100% of sales generated by the development and installation of solar panels for private end customers (more than 189,000 customers)
  • 😊 Energy costs for customers lower than those provided by traditional utilities
  • 😊 Anti-corruption guideline applies to all employees
  • 😢 No information on the existence of an environmental management system, if any

Excluded

Fiat Chrysler Automobiles N.V. (sector: Automobile Manufacturers), EAM ESG rating 05/2018 of C, is a company created by the merger of Fiat S.p.A. and Chrysler Group LLC headquartered in the Netherlands. The subsidiaries, Magneti Marelli, Teksid, and Comau, provide solutions for the automobile industry in the areas of components, robotics, and automation. The best-known brands of the group are Alfa Romeo, Chrysler, Fiat, Jeep, Lancia, and Maserati.

  • 😢 Exclusion due to illegal payments and considerations made to a former union member of United Automobile Workers in the USA in the years 2011 to 2015
  • 😢 Investigations underway by several authorities due to allegedly manipulated diesel exhaust values
  • 😢 Relatively low R&D expenditure in electric and hybrid engines in comparison with competitors
  • 😊 Above-average safety results in crash tests and material input (systematic integration of lightweight design)

 

Sources:

Fiat Chrysler Automobiles N.V.
Website, United States Department of Justice, MSCI ESG, oekom Research AG, Medienbericht

NBIC Bank N.V.
Website, Equator Principles, MSCI ESG, oekom Research AG

Sunrun Inc.
Website, MSCI ESG, oekom Research AG, Finanznachrichten

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Senior Research Analyst, Erste Asset Management

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This document is an advertisement. Unless indicated otherwise, source: Erste Asset Management GmbH. Our languages of communication are German and English.

The prospectus for UCITS (including any amendments) is published in accordance with the provisions of the InvFG 2011 in the currently amended version. Information for Investors pursuant to § 21 AIFMG is prepared for the alternative investment funds (AIF) administered by Erste Asset Management GmbH pursuant to the provisions of the AIFMG in connection with the InvFG 2011. The fund prospectus, Information for Investors pursuant to § 21 AIFMG, and the Key Information Document can be viewed in their latest versions at the web site www.erste-am.com within the section mandatory publications or obtained in their latest versions free of charge from the domicile of the management company and the domicile of the custodian bank. The exact date of the most recent publication of the fund prospectus, the languages in which the Key Information Document is available, and any additional locations where the documents can be obtained can be viewed on the web site www.erste-am.com. A summary of investor rights is available in German and English on the website www.erste-am.com/investor-rights as well as at the domicile of the management company.

The management company can decide to revoke the arrangements it has made for the distribution of unit certificates abroad, taking into account the regulatory requirements.

Detailed information on the risks potentially associated with the investment can be found in the fund prospectus or Information for investors pursuant to § 21 AIFMG of the respective fund. If the fund currency is a currency other than the investor's home currency, changes in the corresponding exchange rate may have a positive or negative impact on the value of his investment and the amount of the costs incurred in the fund - converted into his home currency.

Our analyses and conclusions are general in nature and do not take into account the individual needs of our investors in terms of earnings, taxation, and risk appetite. Past performance is not a reliable indicator of the future performance of a fund.

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