GLG RI European Equity Leaders
RI Leaders incorporates key environmental, social and governance (‘ESG’) themes within an active, concentrated portfolio of high conviction European stocks. The strategy is an evolution of the existing GLG European Equity strategy, meaning the team are able to incorporate ESG factors and analysis into an already proven and successful research and investment process.
- Long-only equity strategy investing in innovative companies that are leading the way with ESG behaviours and policies
- Fundamentals-driven investment process blended with top-down ESG themes
- Aims for persistently high active share in a focused portfolio of 30-60 positions
- Invests in sustainably high or improving free cash flow generators
- Proactive engagement with companies over the long term
- Quarterly reporting to measure the strategy’s impact against key ESG metrics
Approach
Recognising the importance of a comprehensive thematic framework as well as single stock selection in building an effective RI equity portfolio, the team blends fundamental research and judicious stock selection with nine top down investment themes:
- Sector ESG Leaders
- Health and Welfare
- Smarter Industry and Innovation
- Better Quality of Life
- Solution Providers
- Cleaner Energy
- Clean Water
- Circular Economy
- Education
Central to the investment process is a focus on free cash flow analysis. The strategy will rarely be underweight free cash flow yield, judged by the team to be the single best factor for stock selection through market cycles.
By being style agnostic and avoiding distinctions such as value and growth, and the pressures these styles can suffer through market rotations, the team is able to potentially capitalise on opportunities that the market provides rather than manage in accordance with a style that is out of favour.
Man GLG’s diverse hedge fund pedigree and deep pool of equity sector specialists, coupled with a dedicated responsible investment committee, allows the team to draw on disciplines across macro, fixed income and equities, as well as specialist ESG expertise for idea generation. The team also leverages Man’s influence and firm-wide stewardship capabilities to collaboratively engage with corporate management teams on relevant ESG issues.
| Approach | Long-only |
| Asset Class | Equity |
| Geographic Focus | Europe |
| Benchmark | MSCI Europe Net Total Return Index EUR1 |
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