Since inception, responsible investment has been an integral part of our culture and a guiding principle. Our long history of engagement on Environmental, Social, and Governance (“ESG”) principles reflects our core belief that such matters are fundamental in achieving long term success and ultimate value creation for our investors.
- to ensure that due diligence, investment decisions and monitoring for each investment includes consideration of environmental, social (including health and safety, employees, human rights, consumer and community issues) and governance issues as well as the consideration of any ESG event or condition that, if it occurs, could cause an actual or a potential material negative impact on the value of an investment (“sustainability risks”) ;
- to encourage our portfolio investments to consider ESG criteria and sustainability risks in their activities.
Our aim is to stay at the forefront of the fund-of-funds industry by actively participating in the global push towards adoption of higher ESG standards.
We endeavor to continue building on our ESG commitment. However, adopting a responsible approach shall not negatively impact on the Fund’s market strategy and investment objectives and the Management Company is required to act in the best interests of all Investors in the Fund and Investors in the parallel funds and in accordance with the Fund’s purpose and investment policies.
After careful review of the requirements set out in the EU Sustainable Finance Disclosure Regulation (“SFDR”) and draft Regulatory Technical Standards, we have concluded that our secondary investment strategy is not currently adapted to the consideration of principal adverse impacts of investment decisions on sustainability factors (the “PAI regime”) and the technical reporting requirements of such specific regime. We have therefore decided not to adopt the PAI regime for our current funds. We are however supportive of the policy aims of the PAI regime to improve transparency on how market participants integrate consideration of the adverse impacts of their investment decisions on sustainability factors. We will continue to engage with our partners on these matters and keep this decision under regular review.