Stewardship

A concentrated global equity fund investing in companies that we believe display exemplary stewardship with sustained track records of strong financial performance.

Our definition of stewardship

And why it matters

We define stewardship as how companies balance the interests of all stakeholders in the pursuit of long-term growth, as well as how they incorporate material environmental, social, and corporate governance (ESG) risks and opportunities in their corporate strategy, although it does not necessarily mean that the core business of the company is ESG related.

We believe all stewards must possess the following characteristics:

  • Strong management team
  • Durable governance structure
  • Thoughtful allocation of capital and resources
  • Long-term orientation
  • Consideration of all stakeholders

Investors should consider the risks that may impact their capital. The value of your investment may become more or less than the amount you initially invested.

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The stewardship flywheel

In the team’s view, good corporate stewardship signals a company's potential to outperform peers over time. Integrating potential ESG-related financial risks into strategic planning can help a company become more competitive and further improve stewardship. Over time, this cycle may lead to better resiliency and adaptability, encourage innovation, extend market leadership, and enhance financial returns. We call this self-reinforcing dynamic the stewardship flywheel, referring to the rotational force of a smaller wheel to accelerate a larger wheel.

Sample engagement questions

How do you assess your exposure to risks like labor strikes, data-security breaches, or product recalls?

Which climate-related risks are you susceptible to and what processes are in place to mitigate those risks?

What are the key criteria used to compensate the executive team and how did you choose them? How are you holding executives accountable?

The sample questions listed are presented for illustrative purposes only. These questions are not indicative of all questions that may be asked during a typical engagement.

Investing at the intersection of financial strength and ESG leadership

A growing number of companies recognise that good environmental, social, and corporate governance (ESG) practices are good for business. Portfolio managers Mark Mandel and Yolanda Courtines aim to identify traditional market-leading companies that also demonstrate positive stewardship and ESG leadership.

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