We believe ESG investors are best served by an investment process that considers both top-down and bottom-up factors. Integrating ESG analysis at the country, sector and stock levels consistent with clients’ investment goals and ESG policies maximizes the likelihood of achieving desired performance and improving environmental and social conditions worldwide.
Fisher Investments considers environmental, social and governance issues in the investment and portfolio construction process. Further, we regularly screen and tailor our investment approach for accounts depending on any particular social and environmental guideline mandated by the client.
As part of the investment process, we evaluate the risk ESG issues may present to stock performance. ESG issues are examined on a case-by-case basis, and are willing to consider the potential impact of all types of ESG concerns. Further, our ongoing analysis of global political drivers can influence security selection tied to potential political or regulatory risks companies face surrounding ESG issues.
How we discharge our responsibilities under the UK Stewardship Code of the Financial Planning Council.
Our engagement policy in accordance with Shareholder Rights Directive II.
In accordance with our shareholder engagement policy, please review the proxy voting reports provided on this page for the annual disclosure on how such policy have been implemented for the previous year.
Fisher Investments (“FI”) generally evaluates and integrates Sustainability Risks and environmental, social and governance (“ESG”) factors at multiple stages throughout the investment process. “Sustainability Risk” is defined as an environmental, social or governance event or condition that, if it occurs, could cause a negative material impact on the value of the investment.
Sustainability Risks and ESG factors are among the many drivers considered by FI’s Capital Markets Analysts and FI’s IPC when developing country, sector and thematic preferences. Environmental regulation, social policy, economic and market reforms, labor, and human rights are among ESG factors assessed when determining country and sector/industry allocations and shaping an initial prospect list of portfolio positions.
FI’s IPC, with the assistance of FI’s Securities and Capital Markets Analysts, determines the materiality of the ESG considerations based on the exposure among publically-traded companies in these categories. Higher materiality could imply larger ESG-related risks or opportunities, and may influence sector and country weight preferences as well as individual stock selection. The investment strategy and positioning reflects FI’s outlook over a 12-18 month horizon.
FI’s Securities Analysts perform fundamental research on prospective investments to identify securities with strategic attributes consistent with the firm’s top-down views and competitive advantages relative to their defined peer group. The fundamental research process involves reviewing and evaluating a comprehensive set of qualitative and quantitative data, including ESG factors, prior to purchasing a security. Factors considered in all portfolios include, but are not limited to: shareholder concentration, corporate stewardship, environmental opportunities & liabilities, and human or labor rights controversies. FI would choose not to invest in companies when, in its opinion, security level issues: (i) violate a client mandated ESG policy or (ii) present an inordinate risk to a company’s operational or financial performance or (iii) appear to present undue headline risk to share price performance.
Fisher Investments (“FI”) considers many indicators when assessing adverse sustainability impacts within the investment decision-making process. FI’s Investment Policy Committee (IPC), with the assistance of FI’s Securities and Capital Markets Analysts, determines the materiality of adverse sustainability impacts when developing country, sector and security preferences. FI’s investment strategy and positioning reflects FI’s outlook over the next 12-18 months. Determinations on the materiality of environmental, social and governance (ESG) factors by FI’s IPC are generally assessed over this same timeframe.
Further, this fundamental research process involves reviewing and evaluating qualitative and quantitative sustainability-impact data prior to purchasing a security. Factors considered in all portfolios include, but are not limited to: shareholder concentration, corporate stewardship, environmental opportunities & liabilities, and human or labor rights controversies. FI would choose not to invest in companies when, in its opinion, security level ESG issues: (i) present an inordinate risk to a company’s operational or financial performance or (ii) appear to present undue headline risk to share price performance.
As of 03/31/2021 we had over $20 billion USD in our ESG/SRI asset under management.
Founded in 1979, Fisher Investments is an independent, fee-only investment adviser with $169 billion under management.* Fisher Investments maintains four principal business units, Fisher Investments Institutional Group, Fisher Investments Private Client Group, Fisher Investments 401(k) Solutions Group and Fisher Investments International Group, which serve a global client base of diverse investors. The clients of Fisher Investments and its affiliates include over 85,000 clients. Founder and Executive Chairman Ken Fisher’s “Portfolio Strategy” column for Forbes ran from 1984 through 2016, making him the longest continually running columnist in the magazine’s 90+ year history. He has also authored several New York Times bestsellers on finance and investing. (*As of 03/31/21)